Faculty: Translation English
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Ministry of Education of the Republic of Azerbaijan Baku Business University Faculty: Translation English Specialization: Translation Group: T22B Course: 1 Subject: Foreign language (English) Topic: Advantages of e-business Academic supervisor: Gulnar Huseinova Student: Aygun Ismayilova Plan
1) About e-business 2)Software that supports professional e-commerce 3) Advantages of e-business Result Literature Introduction Innovations in technology and communications have allowed businesses to operate globally like never before. In the past, communications could take days if not weeks; now all business transactions can take place in only minutes. E-business, also known as e-commerce, refers to conducting business via the internet. The advantages of such a business are numerous and growing every day. To open an e-business is to pursue a dream of balancing professional goals with personal freedoms at a pace you can live with. Innovations in technology and communications have allowed businesses to operate globally like never before. In the past, communications could take days if not weeks; now all business transactions can take place in only minutes. E-business, also known as e-commerce, refers to conducting business via the internet. The advantages of such a business are numerous and growing every day. To open an e-business is to pursue a dream of balancing professional goals with personal freedoms at a pace you can live with. Forgoing the traditional model of a brick-and-mortar location means small-business owners save a tremendous amount of money at startup. You save money when you don't have to pay for a storefront, utilities, building maintenance, and you also save time by not having to manage those things. If you sell products, they no longer have to go from manufacturer to warehouse to store to the customer’s cart, they can go from the manufacturer to the customer’s virtual cart, which saves on shipping costs and makes products cheaper overall. E-business allows for conversations to happen quickly. Faster decision-making saves time, and time is money in business. E-business allows people to communicate in several ways that facilitate understanding. If someone is not comfortable on the phone or through a video chat, there is always messaging and emailing. People who don't speak the same language can communicate through translation software programs. Any device that connects to the internet can be used as an invaluable e-business tool. Your tablet, phone and computer all make 21st-century work tasks available at the click of a few buttons. Social media, email and teleconferencing mean that anywhere can be an office as long as the internet is there. The software that supports e-commerce professional endeavors is vital in all of this and opens up others avenues for creating and sustaining various e-business products and services. As an e-business owner, you can work anywhere in the world. Without being tied down to a physical location, you can create a healthy work-life balance. E-business means you can be there for your family or go to school or pursue your passions while crafting a business that works for you. Traditionally, companies had to rely on advertising agencies to promote their brand and educate people about it. Now there are lots of ways to pour money back into your business. When you control how your product is represented, you control your company. E-business allows owners to embrace their power in ways they haven't been able to before. No longer do people have to wait for stores to open. They can shop whenever they want and arrange for delivery or pickup. If people want to start planning for an event, they don’t have to wait for venues and caterers to open, because they can go to the suppliers' websites. Information can be accessed at all hours and at everyone’s leisure, which makes for a more pleasant experience overall for both the e-business and the customer. Most products and services that were traditionally available can be managed and sold on the internet. The advantages of technology make them readily available. Selling goods or services, virtual retail stores, education, legal services, medical services – there is no end to businesses that can flourish in the modern e-commerce market. Existing businesses can expand into e-businesses, or entrepreneurs can start new e-businesses quickly and less expensively than in the past. There will always be a place in this world for traditional commerce – stores you can go into and buy things immediately or service shops where you can drop by and speak with an expert directly. The advantages of e-business doesn't take away from the in-person experience. Many small businesses thrive due to the options technology has granted. Opening an e-business means freedom – freedom of location, freedom to dictate the hours you work, and the freedom to push your company where you want it to go in ways that best suit your lifestyle, goals and needs. E-business stands for electronic business. Electronic business is also known as online business. Online business is a business where the transaction takes place online. Here, the buyer and the seller don’t meet personally. The term “e-business” was coined by IBM’s marketing and Internet team in 1996. E-business is a part of e-commerce. E-commerce means electronic commerce. There are actually innumerable advantages of e-Business, the most obvious one being the ease of doing business. Some of the major advantages of e-business are as follows : Easy to Set Up: It is easy to set up an electronic business. You can set up an online business even by sitting at home if you have the required software, a device, and the internet. Cheaper than Traditional Business: Electronic business is much cheaper than traditional business. The cost taken to set up an e-business is much higher than the cost required to set up a traditional business. Also, the transaction cost is effectively less. No Geographical Boundaries: There are no geographical boundaries for e-business. Anyone can order anything from anywhere at any time. This is one of the benefits of e-business. Government Subsidies: Online businesses get benefits from the government as the government is trying to promote digitalization. Flexible Business Hours: Since the internet is always available. E-business breaks down the time barriers that location-based businesses encounter. As long as someone has an Internet connection, you may be able to reach and sell your product or service to these visitors to your business website. But it isn’t all good news. E-business does have certain disadvantages when compared to the traditional way of doing business. Some of the limitations of e-business are as follows : Lack of Personal Touch: E-business lacks the personal touch. One cannot touch or feel the product. So it is difficult for the consumers to check the quality of a product. Also, the human touch is missing as well. In the traditional model, we have contact with the salesperson. This lends it a touch of humanity and credibility. It also builds trust with the customer. An e-Business model will always miss out on such attributes. Delivery Time: The delivery of the products takes time. In traditional business, you get the product as soon as you buy it. But that doesn’t happen in online business. This lag time often discourages customers. However, e-businesses are trying to resolve such issues by promising very limited delivery times. For example, Amazon now assures one-day delivery. This is an improvement but does not resolve the issue completely
Ebusiness has completely changed the way we buy. You’ve probably experienced some advantages of ebusiness as a consumer, but if you’re thinking about starting your own online business, you might be wondering what the benefits of ebusiness are. Below, we list five advantages of having an ebusiness. The internet reaches across the world and spans all time zones. That means that when businesses take their operations online, they have the same capabilities. With a physical store, customers are limited by how close the store is and its hours of operation. Ebusinesses, on the other hand, are accessible from any area with internet access and are open 24 hours a day. Additionally, with mcommerce on the rise, ebusiness has yet another advantage: being accessible to anyone with a mobile device. Customers are only limited by their mobile network coverage, which goes practically everywhere. With bills for rent, electricity, phones, and general office upkeep, expenses for physical locations can start to pile up. By taking your business online, you reduce or eliminate a lot of these overhead costs. Plus, things get a lot easier from a logistical standpoint, since one person can do the work of several people. Take mass communicating with customers, for example. Sending a bulk email to a list of customers is easier than sending out 100 direct mailings (paper, postage, staff, etc.). In addition to customer-facing processes, inside processes also become friendlier on the pocketbook when going online. For example, transaction costs are lessened, since there’s no need to hire a cashier when shopping cart software lets customers check out themselves. And if that’s not enough, ebusiness marketing is often more affordable too, as online advertising tends to cost less than traditional marketing channels. When customers contact you, they want answers fast. Thanks to email and live chat software, ebusinesses have no trouble fulfilling that need. Plus, these flexible forms of customer service can extend past a physical store’s hours of operation. Ebusinesses also offer the convenience of delivering products straight to a customer’s front door—no need to brave traffic.
The internet is a big part of our lives, and isn’t leaving anytime soon. Opening an ebusiness keeps you in touch with what’s current: it levels the playing field and gives you the resources needed to compete in today’s increasingly digital marketplace. For example, having an online presence on social media is a big part of getting your name out there. To stay relevant, businesses need to consistently post content on these outlets that interest their consumers. What’s more relevant than the latest online sale or contest? When it comes to ebusiness, both the consumer and the business reap the benefits. Being online makes a business convenient, accessible, affordable, and better equipped to help its customers—and when businesses are focused on benefiting their customers, everyone wins.
For example - Rajesh is a customer who goes to a store to buy a washing machine. After searching, he realises that he cannot find the product he needs. He logs onto a popular ecommerce marketplace and finds the washing machine. What is even better is that there is a special offer price and it can be delivered to his home. This is where ecommerce comes to the rescue for many shoppers. They go online, search for an item, get a fast response and can buy it just as quickly. Advantages of e-business include helping one to choose from a wide range of products and get the order delivered too. Searching for an item, seeing the description, adding to cart – all steps happen in no time at all. In the end, the buyer is happy because he has the item and didn’t have to travel far. A product listing is what the customer sees when they search for an item. This is one advantage in ecommerce meant for the seller. This online business plus point is that you can personalise your product listing after creating them. The best part? Creating a listing takes very little time, all you require is your product name or codes like EAN, UPC, ISBN or ASIN. Sellers can add many images, a description, product category, price, shipping fee and delivery date. So, in just one step you can tell the customer many things about the item. Creating your listing shows the buyers what you have. Rules for product listing
How this is different from offline stores? – Offline retail merchants can provide only some details about the product. This can be a hassle as they have to keep repeating the same data to every customer!! On the other hand, an online marketplace gives you space to describe the product – just once and interested people will read it. One can include even more information like reviews, demo videos, offers ready and expected delivery timing. One of the biggest advantages of ecommerce to business that keep sellers interested in online selling is cost reduction. Many sellers have to pay lots to maintain their physical store. They may need to pay extra up front costs like rent, repairs, store design, inventory etc. In many cases, even after investing in services, stock, maintenance and workforce, sellers don’t receive desired profits and ROI. How this is different with online stores? - With an ecommerce store, a seller can reduce how much is spent in store upkeep. An ecommerce store is affordable and requires less investment when compared with a physical store. This is also a good opportunity for individual and small scale sellers who want to earn an income but don’t have the required start-up capital. Sellers don’t have to spend a lot of money to promote their items. The world of ecommerce has several affordable, quick ways to market online. Ecommerce marketplaces are visual channels – and sellers can really show off their product. For example, Amazon sellers can use Advertising tools to add videos, infographics, good quality resolution images. One can add life to plain, boring text using DIY features to create customised deals, coupons, A+ content and sponsored ads. Many ecommerce marketplaces offer customer insight tools that can be used to analyse customers. Usually, this is a page that shows all orders – pending, unshipped, sent, cancelled, returns. An important advantage of ecommerce to business is that sellers can provide flexibility to customers. One highlight is that the product and services are ready 24x7. The result is that seller can offer his item any place, any time. Customers are always present on an ecommerce marketplace - They are likely to return for repeat purchases online because of the conveniences they get. These conveniences include free shipping (usually on a minimum cart value), express order delivery, deals and discounts, subscription advantages. They also share reviews on the things they buy. Good reviews result in two extra benefits of ecommerce. One is that buyers gain trust in your store based on the number of positive reviews. The other is that it can help you identify your best-selling items. Result The growth of this e-business in recent decades has given rise to new business requirements encompassing the scope of recruitment of able employees. In companies, on the customer front, consumers expect the organisations to offer self-service options for conducting their personalised transactions for personalised experiences, they want speedy and secure interactions both in the course of purchasing the products and also while paying for the same. LITERATURE https://sell.amazon.in/seller-blog/advantages-of-ecommerce https://smallbusiness.chron.com/advantages-e-business-2252.html https://www.volusion.com/blog/e-business-advantages/ Yüklə 408,78 Kb. Dostları ilə paylaş:
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