This week we had our first lecture, beginning to expand our knowledge on exactly what e-business is and how it has effected the business world as we know it. Our learning objectives for the week were:
– Defining the meaning and scope of e-business and e-commerce and their different elements.
– Summarise the main reason for adoption of e-commerce and e-business and barriers that may restrict adoption.
– Use resources to define the extent of adoption of the internet as a communication medium for consumers and businesses.
– Outline the challenges of introducing e-business and e-commerce to an organisation.
Below are the questions and answers to topic 1.
1)Internet risks – give examples of four things that can go wrong with a transactional site?
As Michael Rappa once said “The Internet is the vast network of networks that ties together millions of computers in such a way as to allow us the unprecedented ability to interact with each other.” (Managing the Digital Enterprise – Introduction) The internet has endless functions and in this current day and age, is used for almost everything, including transactional sites in which people can pay their bills, manage finances and be involved in online shopping.
Whilst internet transactions seem like a fantastic idea, it can also pose many risks for its users who may be oblivious to them even occurring. Potential risks include:
– Security, including identity theft through stolen credit card details.
– Building new relationships.
– Internet downtime or black spots.
– Lack of transactions due to some clients or target audience not having internet access.
2) Write down a definition for each:
a) E-Commerce: E-commerce is defined as transactions that are conducted by transferring data electronically.(https://en.oxforddictionaries.com/definition/e-commerce)
b)E-Business: E-business is defined any business that is conducted through the use of electronic media. (http://www.dictionary.com/browse/e-business?s=t)
3) What is the difference between the buy side and the sell side in e-business?
The buy side of e-business is characterised by suppliers, including logistics and planning, whereas the sell side revolves around customers and purchasing of goods and/or services.
4) Describe the different types of e-business.
There are three different types of e-businness transactions. These are: Business (B), Consumers (C) and Government (G)
Transactions that can take place at each level include:
B to C
B to B
B to G
C to C
C to B
C to G
G to C
G to B
G to G
5) Which digital technology has the highest penetration rate?
Smart phones have the highest penetration rates.
6) List four drivers to adoption of sell side e-commerce by business
– Cost reductions.
– Customer service.
7) List four barriers to adoption to sell side e-commerce by business
– Internet access can be limited.
– Customers may lack computer skills.
– Outsourcing delivery.
– Trust of using online payment methods.
8) What are some examples of digital information?
Digital information is information which can be stored on devices that we can easily access, such as:
– Smart phones.
9) What is the semantic web? Are we there yet?
The Semantic Web is an extension of the World Wide Web (WWW) in which the semantics of information and services on the web is defined, making it possible for the web to understand and satisfy the requests of people and machines. (http://www.igi-global.com/dictionary/semantic-web/26373) This would mean that a computer would be able to recognise information on request and be able to process and deliver this information to the user.
Whilst there have been many inroads made on the semantic web, it has not yet been reached.