Electronic business: a business model can make the difference

Owens, Jonathan D. (2006) Electronic business: a business model can make the difference. Management services, 50 (1). pp. 24-28. ISSN 0307-6768

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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

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.

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.

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.
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.

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.

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.

Item Type:Article
Keywords:Electronic commerce, Business models, Success factors, Customer satisfaction, Web site design, Supply chain management, Cost control, E-business, E-commerce
Subjects:N Business and Administrative studies > N100 Business studies
Divisions:College of Social Science > Lincoln Business School
ID Code:859
Deposited By: Jill Partridge
Deposited On:15 Oct 2007
Last Modified:22 Aug 2013 23:08

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