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Electronic business: a business model can make the difference

By Jonathan D. Owens

Abstract

Electronic commerce has such well documented advantages that if a business does not engage in doing so, one must question the wisdom of management. Abstract \ud \ud The major growth in this transition will be from established 'bricks and mortar' businesses, where 'going online' appears relatively simple and easy to do. Designing a website to sell and buy online is easy and certainly offers advantages over traditional business practices.\ud \ud However, the real potential for successful e-business is in the choice of a correct business model. That design selection is critical to assuring that the major components of e-business are appropriately included, and that they all relate to assuring customer satisfaction.\ud \ud This article describes the path to business model conceptual selection and unique design for 'bricks and mortar' businesses to assure success in e-business. The critical components; supply chain management, cost reduction, relationship marketing and adding value, all relate to trading information for inventory and assets. The formula for doing this, a careful integration of these factors, serves to satisfy customers -the key to e-business.\ud Conducting business electronically, electronic commerce has such well-documented advantages that if a business does not engage in doing so one must question the wisdom of management. The major growth in this transition will be from established ‘bricks and mortar’ businesses, where ‘going on-line' appears relatively simple and easy to do. Designing a web to sell and buy on-line is easy and certainly offers advantages over traditional business practices.\ud \ud However, the real potential for successful e-business is in the choice of correct business model. That design selection is critical to assuring that the major components of e-business are appropriately included, and that they all relate to assuring customer satisfaction.\ud \ud This article describes the path to business model conceptual selection and unique design for ‘bricks and mortar’ businesses to assure success in e-business. The critical components; supply chain management, cost reduction, relationship marketing and adding value, all relate to trading information for inventory and assets. The formula for doing this, a careful integration of these factors, serves to satisfy customers – the key to e-business

Topics: N100 Business studies
Publisher: Institute of Management Services
Year: 2006
OAI identifier: oai:eprints.lincoln.ac.uk:859
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