Outline
This paper provides an overview of eCommerce in terms of solutions, security, payment challenges, implementation, marketing, and legal/technical concerns. It is evident that this sort of business is increasing popularity and acceptance among businesses and consumers. If the aforementioned parameters are considered, it is possible for a small or medium-sized business like Thai Lay Fashion to successfully operate an eCommerce portal or platform.
Introduction
Thai Lay Fashion Co Ltd is a well-known Hong Kong-based textile exporter. The company was started in 1991. It exports primarily to European markets. Its production headquarters are located in China. This organization has close to 250 employees. The procedures below are suggested for developing ecommerce solutions.
Definition
E-commerce refers to the buying and selling of products over the Internet, particularly the World Wide Web. (E-commerce 2009).
E-Commerce solutions
The book titled "Business to business electronic commerce" describes a variety of approaches and strategies through which small enterprises, such as Thai Lay, might utilize ecommerce for growth. The first step is to adhere to the 80/20 Le Pareto principle, which states that 20% of consumers generate 80% of a company's revenue. The principle applies to every aspect of human endeavor. "According to the 80/20 Rule, in any situation, only 20 percent of the factors are significant, while 80 percent are unimportant." (Reh 2009).
According to the writers of the preceding book, this rule also applies to ecommerce. According to EDIMAN users, they are eager to connect with the 20% of their trading partners who account for 80% of their transaction value or volume. (Warkentin 2009, p. 111). In the majority of ecommerce activities, the purchasing and selling process occurs quickly, although payment can be delayed in business-to-business transactions. Any organization can realize "immediate savings" as a result. In e-commerce, security is of the utmost importance, and clients should be provided with a transaction platform devoid of security concerns. Regarding security, any ecommerce website must consider the following elements. They are privacy, integrity, authentication (both buyer and seller's genuine identities), and non-repudiation. The final factor necessitates "proof that the message was in fact received." (E-commerce security concerns: customer security fundamentals in 2009) An ecommerce platform should be versatile enough to accommodate the various types of clients who can conduct transactions on the site. It should be cost-effective to conduct ecommerce transactions. In other words, traditional transaction costs should be higher than ecommerce transaction costs. Some types of company transactions are more suited to ecommerce than others. Since Thai Lay Fashion is a consumer product, e-commerce is acceptable. However, the organization will be more effective if it transitions from wholesale to retail.
Development of E-Commerce Application Systems
It is primarily related with the incorporation of software designed to aid in business management and web page administration. End-to-end e-commerce application development consists only of business tactics designed to increase business. This is the reason why the need for e-commerce application development has surged among B2B professionals. There are already a variety of internet options that enable people to expand their businesses in the simplest and most cost-effective method possible, with the least amount of investment. Some investors believe that the profitability of e-commerce is directly proportional to the quality of the shopping facility. A businessperson's success is directly proportional to how frequently and effectively website visitors utilize the shopping cart. Building E-Commerce applications for websites may need tens of thousands of hours and requires patience and perseverance on the part of the company. The outcome of such a project will be advantageous for the firm, but in some instances, the newly constructed site cannot provide ideal performance. (Boggs 2008).
Methods for creating an effective e-commerce website
This step's primary objective is to establish the intention and type of sites that the company's clients require. The site's objective may be B2C e-commerce, an online auction, B2B e-commerce, or something else. Before embarking on a new project, the company should answer questions such as: who is the target audience, what do you want the target audience to do, who is the competition, etc.
Finding a look: This process involves determining the aesthetic attractiveness of the website design. The designer begins by creating a mock-up template for the customer, depending on his or her initial comprehension of the e-commerce website. From the original template, the designer determines the site's visual direction, and alterations are made based on client feedback.
Insert content: This phase entails determining the graphic aspects of the e-commerce website. We now add the site's content after the designer has assembled the site using high-quality, quickly-loading visuals. Typically, the client provides the content, and the designer then incorporates the shopping cart system.
Testing, re-testing, and further testing: The designer will now launch the e-commerce website development project. The designer must ensure that all aspects of the website are functional and operating as intended.
Go live: This is the project's most exciting phase. This phase begins when the designer receives the client's final approval. At this point, the site is prepared for business. (Development of E-commerce in Delhi, India)
E-commerce is growing in importance, and many businesses are establishing their own portals in an effort to grab new global markets. Customers are not limited geographically by e-commerce. Only a facility for product delivery is required. However, many are hesitant to utilize this technology due to the issue of security when conducting business over the internet.
To achieve security, any organization must meet four criteria: confidentiality, integrity, authentication, and non-repudiation. (E-commerce security concerns: customer security fundamentals in 2009)
"A firewall is a security device placed between an organization's private network and the public internet that moderates and logs requests for internal and external network data access in accordance with the organization's custom security policy." (Firewalls).
Modern communication technologies and the requirement for precise payment systems for e-commerce have resulted in the evolution of e-payments. Specifically, payments initiated and completed electronically. (Electronic payments in Europe in 2002)
Implementation of E-Commerce: E-Commerce is crucial in today's competitive environment. By implementing E-Commerce, the business will get a competitive edge. Many businesses are using e-commerce platforms in order to increase their consumer base and brand loyalty. E-commerce enables a company to effectively exhibit its products and services and conduct commercial transactions 24 hours a day. It is also advantageous for a business to join online groups and marketplaces. It allows the company to connect with a huge number of clients who share a special interest. E-commerce solutions promote the cooperation between apps, servers, and networks. (E Commerce implementation 2009).
E-marketing is a component of e-business that is used by a number of large corporations to increase sales. Marketers constantly analyze the significance of e-marketing and integrate it as necessary into all marketing components, including strategy, customer behavior, marketing communications, and marketing mix. In contrast to the past, obtaining a high ranking on the leading search engine is now incredibly competitive, and submitting your website to a huge number of search engines will only result in your email address being added to a large number of spam lists. Also essential is ensuring that the company's website appears in Internet searches. It should be ensured that the website's name is registered with all internet search engines. The number of times a particular term is searched over a period of time is the "search volume." If the organization is able to determine which keyword is searched the most frequently, it will be able to attract qualified traffic to its websites by using those keywords.
The legal and ethical context of an E-commerce enterprise: There are numerous legal and ethical considerations to make when utilizing the Internet and engaging in e-commerce. According to Turban et al., the government introduces e-commerce rules, and because it is a new area, new laws and regulations are issued based on experience and as events occur. Problematically, what is ethical may not be classed as criminal, and what is immoral may not be deemed illegal. Therefore, only time and experience will bridge the gap.
Conclusion
The concept and use of ecommerce in business transactions are expanding daily. Increasing numbers of businesses are employing this manner of transaction in addition to traditional techniques. This paper has covered topics such as solutions, security challenges, payment issues, the installation of an eCommerce platform, the marketing of eCommerce, and legal and ethical implications of this sort of activity. With the proper precautions, technological support, and effort, any company, including Thai Lay, is capable of constructing and operating a customer-beneficial ecommerce platform.
Reference
Boggs, Chris. (2008). SEO during E-Commerce application development.
E-commerce: 2009 definition, SearchCIO.com, Internet.
E Commerce implementation 2009, Web, SEO, and Promotion.com.
E-commerce security issues: customer security fundamentals in 2009, ECD, and on the web.
Electronic transactions in Europe in 2002, European Central Bank website.
Computer Management and Marketing Associates (2009). Web. Firewalls.
Method for E-Commerce development in Delhi, India, Wwbdhoom (2009). Web.
2009, Reh, John F., Pareto's principle-the 80-20 rule: meaning, About.com: Web management.
Merrill Warkentin, "Business to business electronic commerce: conclusion," Idea Group Inc (IGI) Web site, 2001.
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