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Hello, I am looking for someone to write an essay on EC can be used to create strategic advantage for a firm. It needs to be at least 2750 words.Download file "EC can be used to create strategic advan
Hello, I am looking for someone to write an essay on EC can be used to create strategic advantage for a firm. It needs to be at least 2750 words.Download file "EC can be used to create strategic advantage for a firm" to see previous pages...
Thus, it is important that an e-commerce strategic projection has to be incorporated in a company's strategic business plans. (King, et al, 2004)
For the purpose of this paper we shall examine the details of a specific Electronic Commerce tactic in this case the electronic data exchange and analyze the effects it has on three companies which are Amazon inc.
, MySpace Company and First American bank.
For firms, e-commerce implies using the web and the internet as a channel of distribution in marketing and selling of goods and also service to the firm's customers. This is a narrow definition, of e-commerce as it only describes internet commerce. E-commerce is much wider in what it entails. According to King, et al (2004) e-commerce is the exchange of information, services, goods and payments electronically and it involves formation and continuation of Web-based relationships. Thus, e-commerce encompasses the internet, extranets, intranets, electronic data exchange (EDE) and other electronic aspects. Examples of activities performed using e-commerce includes.
Internet has globalized this world and in the same e-commerce is global. Difference in cities or countries even does not affect e-commerce if you have any kind of crises you can log on from any where in the world and can solve your problem in a faction of a minute. Transaction is very fast and effective. many online business sites now offer sophisticated tools to help consumers manage all their assets more effectively and conveniently. (King, et al, 2004) A simple example of this can be taken from the simple accounting software e.g. in the banking sector. Some online banks provide to simplify record keeping. Another importance of e-commerce is that less paper work has to be done and once u have entered information, it doesn't need to be re-entered for similar consequent checks, and future payments can be programmed to occur automatically.
Importance of e-commerce on companies
E-commerce serves as a vital strategic tool for companies. When e-commerce is well used in companies it brings considerable opportunities to the company. The importance of e-commerce to companies can be classified in two main classes. the tangible advantages and the intangible advantages that are brought about by information technology. E-commerce is vital for many companies, today e-commerce has assisted many companies and organizations to revolutionize the manner in which they operate and manage their operations. Though, for a company to realize maximum benefits of e-commerce it must invest in the technology and manpower. (Chan, Lee, &. Dillon, 2001)
The tangible benefits of e-commerce touches on the monetary aspect of the company, it touches on the financial benefits that occur due to the company investing in e-commerce that can only be measured using tangible metrics. For example, cost saving, market share, productivity and profitability of the company. These benefits enables the company to make a lot of saving and the money goes along way in improving other aspect of the company.