E-business which means the same as the electronic business is the process of conducting business through the use of the internet. The processes that are involved in electronic business involve the buying and selling of services, supplies, and products. This explains the provision of services to the customers, payment processing, having collaborations with business partners, managing and controlling the production of goods and services, information sharing, providing employment services and running employment services that are automated(Nof,2015). It involves a number of services and functions which start from the intranet developments and extranets all the way to electronic services, services provision and the tasks which are performed over the internet by applications that provide services.
Business organizations are currently thinking about their businesses over and over again in terms of internet characteristics, the availability of the network, how wide it can be reached and the possibility of changes result. They are making use of this process to purchase goods and services from several companies, do research together and do sales promotion collaboration. It has contributed to the development of proper security tools and protocols which include certificates that are digital and encryption which is being used to protect data against unauthorized access and hackers, theft, and fraud. Privacy of data and security remain the major business concerns for individuals running the businesses and big companies. The security which is built in browsers accompanied by digital certificates which are currently available for individuals and business companies such as Verisign, which works in issuing certificates and some of the business transaction security has weakened while on the other hand electronic business is increasingly bringing successful.
The factors that generally face most of the businesses in our environment include the laws and regulations, the economic climate and the availability of workers. Laws and regulation which are new may bring effects on the electronic business which is not expected mostly on the areas that are private, patents and other property which is intellectual. The leaders running these electronic businesses should have good regulations understanding and local taxes rational which includes the procedure of how tax revenues are spent. Tax breaks that are unfair should not be highly expected by any electronic business and they should also not have expectations of competing with the other businesses in a way that is unfair to them. Financial strategies that are sound will contribute a lot in the maintaining of cash flow and solution to the problem of a downturn.
Most of the businesses that are small may experience a problem of running out of money in the period whereby the products have not yet generated revenues. This problem can be solved by using conservative accounting practices which are mostly preferred by the investors. When qualified employees are available in electronic business, a problem of a growing business is solved and there is a success in the goal of growing a startup into an enterprise that is small or medium sized (Smith, 2018). Although after the downturn of the Dot-Com economic crash there was the availability of technical workers, the number of foreign workers significantly decreased after the terrorist attack which occurred on September 11, 2001. The strategies for local workers include the following: getting and keeping employees who are qualified with programs like child care, training, and services of the employees. In order for the employees to develop new technology skills, some training is also needed.
When technical knowledge that is deep is used together with entrepreneurial skills, it can result in the production of ideas that are innovative in the global electronic business environment which is so competitive. MSc in electronic and Digital marketing is a postgraduate course that is new and majors at providing of well-designed training which is well balanced in Information Technology principles (Telecommunications and software) used in marketing practices and electronic business(Paul,2018). The knowledge about essential managerial and skills needed to finance a starting business and run it well to provide profits is also taught. The syllabus gives practical skills which aim at e-Commerce or e-Business applications and the following technologies: Communication skills that are important, management of time and planning, marketing and management, management of a project, team working and leadership.
The methods that are used in learning and teaching should assist in skills development by not only encouraging abstract reasoning capacity, but also the student's learning self-motivation and independent capacity, skills for solving problems and the knowledge which is mostly used in the common employment fields. This program is mainly designed for the University graduates that take Informatics or computer science, electrical engineering and Telecommunications. The course can also be available through distance learning and the methods that are involved in this include the following: Learning based on the class or face-to-face whereby the students should be in the classroom at the starting of each semester or during the weekends. Synchronous learning where the students are supposed to attend the classes remotely which is held regularly in each semester like weekday afternoons. A summative assessment is whereby a student needs to show up at the university in order to do the final examination at the end of each semester.
In Asynchronous learning, students get knowledge through the online resources which can be evaluated through a number of diagnostic tools and assessment techniques that are formative. The purpose of an executive summary of a business plan is to do a summary of the reader's main points in a document that saves (Freeman, 2015) time for and prepares the upcoming content for them. An executive summary can clearly be defined as the reader's early organizer and that's why most of the time, it is referred to as the most important part of the business plan. The information which is needed in an executive summary depends on whether the business is a startup or an already grown business. The main goal of a business that is starting is to convince banks or venture capitalists in order to invest in the business by lending them capitalists in the form of debt.
The executive summary of a startup company involves the business model, the target market, the opportunity of a business, the competition, marketing, and sales strategy and financial analysis. The executive summary for a business that is already established includes company information, business highlights, future plans, and financial summary. The tips that are involved in the writing of an executive summary of a business plan include keeping your language positive and strong, putting yourself in your reader's place, focus on providing a summary, polish your executive summary, keeping it very short, and tailoring it to the audience. Keep in mind that the readers will first read the executive summary and if it was written poorly they will put it aside before coming back to read it and that will be the last thing that they read.
Businesses that are small and growing are usually aware of the problems that are experienced by a company that is operating. They start by employees' management in order to keep the finance track for them to get to the root of the business weaknesses and strengths. The company then assesses the decisions an organization makes in terms of strategies and processes constantly. These business assessment strategies are important in the balancing of the long-term company strategy with its operational goals that are pressing. The businesses that are successful understand very well that people are the most valuable resource to an organization. Having a motivated and talented employees keeps a business successfully active but an assessment should commence on the very first day before the workforce begin an organization's work. The company considers an employee's education, background, mental agility, and references before hiring them to work for their company (Noe, 2017). The assessment then goes to the evaluation of work ethic, Integrity, and performance.
When there is open communication between the managers and employees, information that is valuable about an organization's strengths and weaknesses is seen. A performance assessment is an important business strategy that clearly finds out if a business is meeting all the goals and standards that are set. Having a check up on the financial progress will give you a chance to make a decision that will bring positive effects to the business. A strategic direction assessment of a business is a bigger plan picture of where a company to go in the coming future. An organization's risk happens when the future stability is under a negative circumstance threat and assessment of these risks aids a business in tackling them in order to avoid losses.
Small companies always set a plan in order to grow their business and have an increase in profits and sales. Some of the strategies that a company should use in order to grow to include the following: acquisition, product expansion, market expansion, and penetration. In order to grow an e-business, these are the strategies that should be used. Social media strategy talks more about social media which is becoming the main e-business focus for the owners quickly (Felix, 2017). Creating a company blog or a twitter account will be a good example of promoting social media strategy. These blogs bring useful information about the company services and products to the readers who end up being the customers. New information is notified to the followers by twitter and social media is used as a source that is passive for sales generation.
In the E-Business Advertising Strategy, many ways that used to advertise are included. One of the advertising ways includes the use of pay-per-click. The company is supposed to come up with the keywords that are related to the business services and products, do testing on them and use the best ones in the campaigns of pay-per-click advertisement(Chaffey,2015).This is a good way through which a company reaches to its audience and make them know what they really offer. A business will not be able to grow if they running the risk of staying stagnant. For a business to grow, it needs to make use of the opportunities from new marketing in order to target a large number of customers for their product or creation of a marketing program that is an affiliate for its services and products.
Business organizations should be able to enter markets that are new. When a company has the ability to reach the audience globally, an electronic business should also include a new market exploring strategy. Companies are advised to make use of the internet as a way of reaching to its customers, finding new markets and at a discount, sell back stock. The Business Model Canvas is a global standard is used in companies of different sizes and by millions of people. One can make use of canvas in describing, designing, challenging and pivoting their business model. It works hand in hand with the value proposition Canvas, other strategic management, processes and tools used for execution.
An online business model is important for a startup online business which assists in creating a business that is sustainable and communicates within the company and with partners about its new features. Reviewing business models is also essential for the existing developed companies which aid in adding new services to what they are already offering which is made po...
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