fivwords

The managerial issues are as follows:   1) It is the Business Issues that Count: To succeed, a business must understand how to meet the needs of their online customers.  2) In-House or Outsource : Mainly depends on the company size. While many large scale enterprise are capable of running their own publicly accessible websites for marketing purposes, websites for online selling involve complex integration, security and performance issues. For those companies venturing into web-based selling, a key issue is whether the site should be build in- house, thus providing more direct control, or outsourced to a more experienced provider. Outsourcing services, which allow companies to start small and evolve to full-featured functions, are available through many ISPS. telecommunication companies, Internet malls and software vendors who offer merchant server and e-commerce applications. 3) Analysing the Data: One advantage of online marketing and selling is that an automatic record is ...

Adware:   It is any software application in which advertising banners are displayed while the program is running.  Auction:  An auction is a market mechanism by which sellers place offers and buyers make sequential bids.  Balanced Scorecard:  It is a management tool that assesses organisational progress toward strategic goals by measuring performance in a number of different areas.  Bandwidth:   Bandwidth of a communication channel refers to the data- handling capacity of an Internet connection. Bots: Bots (short for robots) are a type of malicious code that can be covertly installed on computer when attached to the internet.  Browser Parasite:  It is a program that changes some settings in browser.  Business Strategy:   A business strategy is a set of plans for achieving superior long-term returns on the capital invested in a business firm.   Business-to-Business (B2B):  It e-commerce holds electronic transactions am...

Introduction The e-commerce infrastructure is defined here as the supporting capabilities for online trading between multiple companies which include hardware, software, networks, online payment technologies, security and encryption technologies, online trading business models, legal and regulatory framework, and managerial and organisation capabilities.  Infrastructure is the shared human, informational , and technical resources on which the work system relies in order to operate, even though these resources exist and are managed outside of the work system.  To evaluate the interdisciplinary aspects of construction e-commerce infrastructure, one proposes using a four pillar approach. Figure 5.1 illustrates the skeleton for the proposed integrated construction e-commerce infrastructure. The proposed integrated e-business infrastructure can be broken down into the following four groups of components:  1) Technological Infrastructure : Technology infrastructure is a work...

When buyer and seller cannot see each other, chances are high that dishonest people will commit all types of fraud and other crimes over the internet. During the first few years of electronic commerce, one witnessed many of these, ranging from the creation of a virtual bank that disappeared together with the investor's deposits to manipulating stocks on the Internet. Fraud on the Internet  Internet fraud and its sophistication have grown as much as and even faster than the Internet itself. Some of them are as below:  1) Online Auction Fraud : The majority of complaints registered at the National consumers League deals with auctions. Money is collected but goods are not satisfactory, or even not delivered.  2) Internet Stock Fraud : The Securities and Exchange Commission (SEC) bought charges against 44 companies and individuals who illegally promoted stocks on computer bulletin boards, online newsletters and investment websites. In Most cases, stock motors falsely spread p...

The other legal issues are as below: Electronic Contracts  A legally binding contract requires a few basic elements - offer, acceptance, and consideration. However, these requirements are difficult to establish when the contracts are to be entered into electronically. Provisions have therefore been made in the cyberlaw carrying definitions to electronic records, digital signatures and other electronic communications.  The Information Technology Act provides the means to effectuate transactions accomplished through an electronic medium. The legal components, which enable a contract to come into existence, comprise four contractual components. These contractual components are:  1) Consideration : The concept of consideration means that each party should derive something beneficial from the transaction; when the parties are in negotiations.  2) Intention to Create Legal Relations : the second element namely the intention to create legal relations can be conceded - This ...

Many legal issues are related to e-commerce. When buyers and sellers do not know each other and cannot even see each other (they may even be in different countries), there is a chance of fraud and other crimes over the internet. During the first few years of EC, the public witnessed many of these, ranging from the creation of a virtual bank that disappeared along with the investors' deposits, to manipulation of stock prices on the Internet. Unfortunately, fraud on the Internet is increasing. Some of the major legal issues included in ecommerce include:  1) E-filings in court,  2) Evidence,  3) Jurisdiction,  4) Liability,  5) Defamation,  6) Identity fraud,  7) Computer crime,  8) Digital signature,  9) Regulation of consumer databases,  10) Encryption policies,  11) Time and place,  12) Location of files and data,  13) Electronic contracts,  14) E-communications privacy,  15) IPOS online,  16) Antitrust,...

There are many ethical issues relative to e-commerce like: Channel Conflict  Channel conflict refers to any situation in which the online marketing channel upsets the traditional channels due to real or perceived damage from competition.  When any two members of a channel or two different channels fail to reach an agreement regarding selling practice and cach feels that the other prevents it to reach its goal, channel conflict arises. Channel conflict is mainly of three types:  1) Vertical Channel Conflict: Here conflict exists between two members of different levels of a same distribution channel.  2) Horizontal Channel Conflict: Here conflict exists between two members of the same channel level.  3) Multi-Channel Conflict: Here conflict exists between members of two different channels.  Channel conflict may also occur among various segments of corporate departments, such as the sales channel. For example, the direct contact component of the sales departme...

Overview   Undertaking e-commerce transactions with partners or procuring goods or services using e-commerce entails considering legal and ethical obligations (though these may be complicated by jurisdiction issues). In theory, trading using e-commerce should be conducted under the same rules and regulations as with paper-based, word-of-mouth or telephonic systems. The main complication that e-commerce presents is centred on copyright, ownership of data/information and matters of censorship.  Ethics is about understanding right and wrong. The increased reliance by business on computers in recent years means that there are a number of contentious and evolving issues relating to ethics in cyberspace. Decision-making in business tends to focus on profit-maximisation, but it is increasingly being recognised that sustainable profit over the long-term may best be achieved by taking careful consideration of the consequences that decisions may have for trust between stakeholders such ...

The main Legal Incidents are: 1) Contractual Issues in EC : An example is as below:  i) ProCD sold a database program called SelectPhone containing information from 3,000 telephone directories.  ii) Company sold the same program to both commercial users and individual retail consumers with a discount offered to the consumers.  iii) The discount was based, in part, on an agreement, or license, that restricted the use of the program to non-commercial purposes. iv) Mr. Zeidenberg bought a retail version of the program and re-sold it over the internet, a violation of the agreement.  v) When sued by ProCD. Zeidenberg argued that the contract was not enforceable since he was unable to examine it until after he had purchased and opened the package.  vi) The court responded by explaining that Zeidenberg bound himself to the terms by using the program when he had the opportunity to return it. The Supreme Court held that "Shrink-wrap licenses are enforceable unless their ...

Some managerial issues related to electronic payments are as follows.  1) What B2C payment methods should we use : Companies that only accept credit cards rule out a number of potential segments of buyers. Teenagers, non - U.S. customers and customers who do not want to use credit cards online are examples of market segments that are unable or unwilling to use credit cards to make online purchases.   E-checks, virtual credit cards, stored-value cards, and PayPal are some possible alternatives to credit cards. Also, when the purchase price is less than $10, credit cards are not a viable solution. In this case various e- micropayment systems can be used. Online merchants and other sellers need to be aware of the volatility and true costs of many of these alternatives. Because many of the various alternatives do not yet enjoy widespread use, it is always possible that they will not exist tomorrow. 2) What B2B Payment Methods Should We Use : Keep an open mind about online alternat...

As the volume of Electronic Commerce becomes larger, the role of secure and economical online payments on the Internet will, accordingly, become more important. At the moment, the credit card payment for B2C trades with SSL protocol is the most widely adopted. However, SET protocol tailored to credit card payment may become one of the next generation standards. For micro payment, smart-card-based e-cash will become popular and will be recharged through the Internet from the cyber-banks, which will revitalize the benefit of cyber-banks.  As B2B occupies the major portion of Electronic Commerce, more economical payment methods like Internet-based funds transfer equipped with the benefit of check systems will become the major medium for large-amount payments. The credit card fee seems too high to transfer large amounts among credible corporations. This prospective trend should envision opportunities to payment businesses and corporate finance managers. An ideal e-payment system should...

Electronic cheques (E-Checks) are another form of credit payment that lets customers use digital online cheques to pay Web merchants directly. Here customers must register themselves with a third party account server. The merchant is now like the receiver of the paper cheque and need not be an account holder with third party account server. The third party now regulates the flow of funds between its clients.  In all respects, the electronic cheque (E-Checks) has the same features as a paper cheque. Like the paper cheque, the message is first given to the receiver who, in turn endorses the cheque and presents it to bank to obtain funds. The “NetCheque" is an example of electronic cheque. It was developed by the Information Science Institute and contains all the software for issuance of the Cheque, identification of signature and depositing into the account. Many organizations are using "NetCheque" for internal applications.  Working of E-Cheques  For transactions through ...