E-Commerce and E-Business

The internet and technological development have completely changed how individuals conduct business. Customers from all over the world can make online purchases of goods and services. E-businesses, however, differ from traditional trading in that they offer unique benefits and drawbacks.

Saving time and money, keeping track of how much you are about to spend in the shopping cart, and buying goods at a convenient time are some benefits of online shopping (Fernandez & Masson, 2014). However, there are drawbacks to internet purchasing, including the inability to physically inspect the merchandise, delivery delays, and higher shipping costs (Fernandez & Masson, 2014). The pros of traditional shopping include physically seeing the commodities, inspecting them and instant possession (Cunningham & Fröschl, 2013). The cons include wasting a lot of time, money and indecisiveness because of the wide range of variety to choose from.

The advantages of operating an online business include wide access to customers in different geographical locations, less expensive cost of establishment, and clients can purchase products and services at any time (Cunningham & Fröschl, 2013). However, its disadvantage is that fraudsters can easily target the business. The pros of traditional businesses are that customers trust the companies and they are free from fraudsters (Cavusgil, Knight, Riesenberger, Rose, & Rammal, 2014). The cons include fixed operating hours, expensive start-up capital, and easy target for shop-lifting.

Online businesses should reduce the load times for their websites by optimizing their pages so that clients are free to visit the sites without worrying about time and money. The companies should also frequently add new contents to their websites so that they are relevant to the current needs of customers.

The short term futures of e-commerce include better customer service, delivery times, and product selection by the companies which are using the technology. The long-term future improvements may include the development of delivery drones and pop-up shops that will enable clients to physically engage with the sellers and the products.

References

Cavusgil, S. T., Knight, G., Riesenberger, J. R., Rose, E. C., & Rammal, H. G. (2014).

International Business. Sydney: Pearson Australia.

Cunningham, P., & Fröschl, F. (2013). Electronic Business Revolution: Opportunities and

Challenges in the 21st Century. New York: Springer Science & Business Media.

Fernandez, A. J., & Masson, M. E. (2014). Online Mediations: Advantages and Pitfalls of New

and Evolving Technologies and Why We Should Embrace Them. Defense Counsel

Journal, 81 (4), 395.