Experience With E-Business Case Study Examples

Published: 2021-06-22 00:37:57
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Category: Business, Experience, Internet, Bible, Banking

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Experience with e-business
What is e-business? According to Grefen (2010), it denotes a specific kind of activity or activities carried out by a business with the use of information technology (p. 21). The activities must be core to the business, i.e. related to the reason for the company’s existence for example online banking for a bank. The activity must be IT enabled as opposed to IT enhanced which means it is essential and does not merely improve the activity. Lastly, the information technology must be integrated in both the processing and communication of the information.
E-business took the world by storm by providing superior all round service delivery. It has been the most significant change in the business world since the industrial revolution more than two hundred years ago (Smith, 2001 p.2). With tools such as email, online banking facilities, online trading facilities, social media and the web-based customer care relationships, online business has reduced running costs, increased the scope of market beyond geographical and physical presence and has increased sales revenue through virtual business. In my opinion, this future of business as we know it hangs on this balance.
As opposed to the old economy where information flow was physical, ours is a digital flow in what is termed the age of networked intelligence. The new possibilities created therein are very significant and have revolutionised business interactions as they were known in the old age (Tapscott, 1997 p.6).With the advent of online marketing and trading, a lot of smart companies moved with the wave and have reaped from it. They have not only focused on the importance of the transactions but also the importance of commitment and service delivery to maintain relationships with their clientele.
I had an experience when I booked my flight and accommodation for holiday. Conventionally, I would have to call or go physically and book both the flight ticket and the hotel accommodation. However, I only needed to log in to the respective websites and book online from the comfort of my home. I also wired them the money through my online banking account and in less than ten minutes, I had accomplished what two long three long queues and twenty four hours would have; the flight booking, the hotel booking and the bank withdrawal.
From my own experience and those of my friends, I have come to realise that those companies that exhibit a good relationship with their customers enjoy loyalty, with my friend being committed to one bank since he opened an account with them. The importance of such relationships is emphasized by relationship management software and customer service through social networking. Consumers tend to be attached to firms that treat them like they are important (Barnes, 2000 p.3).
The world is fast changing with times with everything being made convenient at the click of a button. With only a few people who appreciate the walk to the store to buy their favourite book, most of us have gone to Amazon. While some of us enjoy the long queue to the teller, most of us have moved to banks with online facilities. In this new age, concepts, ideas and images are more valuable than the trade itself. Markets are steadily being phased out for networks and access is gaining more popularity than ownership (Rifkin, 2001 p.4). This has in essence created time for other more productive activities. There is no stopping the convenience wave; it will only get better with time.
References
Barnes, J. G. (2000). Secrets of Customer Relationship Management: It's All About How You
Make Them Feel. New York: McGraw Hill.
Grefen, P. (2010). Mastering E-business. New York: Routledge, Taylor & Francis Group.
Rifkin, J. (2001). The Age of Access: The New Culture of Hypercapitalism, Where all of Life
is a Paid-For Experience. Washington: Penguin Putnam Inc.
Smith, D. M. (2001). The E-Business Book: A Step-by-Step Guide to E-Commerce and
Beyond. New Jersey: Bloomberg press.
Tapscott, D. (1997). The Digital Economy: Promise and Peril In The Age of Networked
Intelligence. New York: Mc Graw Hill.

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