Background of E-business
What are the advantages and disadvantages of e-business?
Advantages
E-business reaches a wider market, it’s not focusing only in a single location.
It is easier to form due to a lesser start-up and operational costs.
No need to buy a land, building facilities or lots of equipment in order to start.
The customers save time, money and effort because of e-business.
It can also be accessed anytime and anywhere.
There is an automatic processing of orders.
The seller and buyers can interact more and has more personalized messaging.
The delivery is fast and the customers don’t need to go outside.
The records of the transactions are easier to track for the needs of seller.
This can connect the world making it a more diverse society.
Disadvantages
The possibility of failure of the internet provided can delay the business transaction.
The probability that there may be scammers like bogus buyers and sellers is high.
Customers will not be able to look at the products personally, there is no way to check if those products are legit and working.
The delivery of the products can be delayed.
There is possibility that data and websites might malfunction and can affect the customers and sellers.
Which do you prefer, putting up a branch in different countries or engaging e-business internationally? Why?
Practically speaking I’d rather engage into international e-business than to put up branches in different countries. Mainly because of its ease of formation and the wider market it will reach. E-business doesn’t change the traditional international business, it’s just that people in the e-business uses the internet so buy and sell goods and services. If I engage into international e-business then it will not be a burden for me to look for places and build my own physical store that can only reach limited number of customers. Unlike in e-business even if I only have one place to work, I can still sell my products all around the world through the help of courier. Even if the person very far from the city as long as he/she has phone and internet it can reach me. Also, my time of selling is not limited because it is open anytime. Now that pandemic occurred and people are at their home, I realized that the formation of e-business is very helpful all over the world. And well, we are already in the computer era and that we need to enhance our way of leaving.
What would be the preparation before entering e-business?
The preparations before entering into e-business is first, acquire knowledge, do research on how things work in the e-business industry so that it will be easier to form and establish the planned business. Next is to ready the man power, knowledgeable people about computers or internet are needed for the smoother flow of business. It is also good to buy specific gadgets that are useful in the faster transactions in the e-business. Fourth is learn the competition in the e-market, there are lot of competitors in the platform. Another is studying the possible customers and make sure that products and services you are about to offer are into them. These are some of the preparations needed in e-business.
