SWOT Analysis on E-Business:
The SWOT analysis helps developing a strategy and tactics to help a business grow and succeed by identifying critical factors affecting the organization. It helps the organization build on Strengths to reduce Weaknesses and to exploit Opportunities and avoid potential Threats.
1. Strengths of E-Business: The global Internet usage has nearly tripled between 2006 and 2010. making e-business a more significant factor in the global economy. As e-business improves, organizations will experience benefits and challenges alike. This made e-businesses highly accessible. e-Businesses can operate 24 hours a day, 7 days a week, 365 days a year. They increased customer loyalty by having additional channels to contact, respond …show more content…
These include a merchant account that offers Internet credit card processing ability, an online product catalogue, a virtual shopping cart and a bulk email program. Once these are established, the benefits of e-Commerce can start to pay off for both merchants and their customers. For example, the upfront costs for establishing a virtual business are less than for a brick-and-mortar operation, and the process can generally be accomplished more quickly. Other benefits of e-Commerce are:
• An online presence makes your business more accessible to potential customers, business associates and product manufacturers, which in turn creates new relationship opportunities.
• Customers have 24/7 buying access via the Internet, but you don’t have the associated costs of a round-the-clock operation. In a sense, e-business allows you to put your business on auto pilot during non-business hours and still reap the rewards.
• Promoting your brand gets easier when millions of potential customers worldwide can visit your website, peruse your inventory and make a purchase. That kind of traffic just isn’t available in a storefront …show more content…
Databases allow you to store information about orders, needed both for you and for customers. For instance, customers can track their orders by requesting information from the database, which will automatically reply whether the order has been shipped. You can use customer information to fill in forms for returning customers with their recorded information. You can store statistics about customers (how many times they have visited the web sites, which pages, what did they buy, and so on). Customer's feedback about products can be organized and displayed later when someone else is interested in the same product. It's hard to imagine an interesting web site that does not have a database behind
The SWOT analysis helps developing a strategy and tactics to help a business grow and succeed by identifying critical factors affecting the organization. It helps the organization build on Strengths to reduce Weaknesses and to exploit Opportunities and avoid potential Threats.
1. Strengths of E-Business: The global Internet usage has nearly tripled between 2006 and 2010. making e-business a more significant factor in the global economy. As e-business improves, organizations will experience benefits and challenges alike. This made e-businesses highly accessible. e-Businesses can operate 24 hours a day, 7 days a week, 365 days a year. They increased customer loyalty by having additional channels to contact, respond …show more content…
These include a merchant account that offers Internet credit card processing ability, an online product catalogue, a virtual shopping cart and a bulk email program. Once these are established, the benefits of e-Commerce can start to pay off for both merchants and their customers. For example, the upfront costs for establishing a virtual business are less than for a brick-and-mortar operation, and the process can generally be accomplished more quickly. Other benefits of e-Commerce are:
• An online presence makes your business more accessible to potential customers, business associates and product manufacturers, which in turn creates new relationship opportunities.
• Customers have 24/7 buying access via the Internet, but you don’t have the associated costs of a round-the-clock operation. In a sense, e-business allows you to put your business on auto pilot during non-business hours and still reap the rewards.
• Promoting your brand gets easier when millions of potential customers worldwide can visit your website, peruse your inventory and make a purchase. That kind of traffic just isn’t available in a storefront …show more content…
Databases allow you to store information about orders, needed both for you and for customers. For instance, customers can track their orders by requesting information from the database, which will automatically reply whether the order has been shipped. You can use customer information to fill in forms for returning customers with their recorded information. You can store statistics about customers (how many times they have visited the web sites, which pages, what did they buy, and so on). Customer's feedback about products can be organized and displayed later when someone else is interested in the same product. It's hard to imagine an interesting web site that does not have a database behind