E-Commerce and the Monitoring Process
- Preliminary Features
- The human toll
- Political risk
- The real economy: Economics and Debt
- Economic Policy
- The external accounts and debt
In recent years, the developments in Information Technology and Communication (NTIC) has had a huge impact on the operations in businesses. This has also heightened competition.
The Internet has changed the way that companies look at information. From now, competitive firms will be those who will be able to anticipate market trends and identify the best potential needs of the market. This will then allow them to adapt to make better their offers and to satisfy the increasing demand of the customers.
Electronic commerce is a highly competitive environment, in which firms must develop different strategies to remain competitive, and benefit from the boom of online shopping. One strategy could be the possible establishment of a monitoring unit within the company. The objective of this unit must be to collect as much information as possible, for strategic and reactive purposes, in order to be ahead of the competition.
A monitor will be the one who will anticipate the future behavior of stakeholders. He should also monitor the business environment to know the competitors, customers and suppliers. He must also enable the company to guard against risks and potential threats that may affect its competitiveness.
The monitor will appear as a kind of insurance for the company. If the issue of prevention is well integrated, it will enable him to seize opportunities for the development of the company, and acquire new customers. This document, will look at: Why is a monitor necessary? What should the monitor watch out for? What are the obstacles and limitations to this practice in the business?
Intelligence is an essential tool for companies wishing to compete in the highly competitive environment that is electronic commerce.
It, in fact, allows companies to have all the knowledge needed prior to the implementation of its strategy, whether global or competitive. The company must conduct a research for information on the changing environment in which it operates. With the knowledge and information gathered the company will conduct a competitive strategy that will enable it to position itself against its competitors.
Historically, e-commerce or electronic commerce has emerged as the Internet has opened up to businesses. Initially the idea was to use the Internet to share free information. But the opening of the network and the low cost of entry turned the tide, and even if the principle of free information is still present, Internet is now used primarily for commercial purposes.
The use of electronic media to conduct business transactions is called e-Commerce . e-Commerce is a facet of e-business. The latter is the integration into a company, ICT-based tools to improve their functioning in order to create value for itself and its customers or partners. The products are not just for consumers, business to consumer, but also the companies themselves and business to business.
Online shoppers are called "cyber-consumers' and sellers are called ?e-retailers'. E-commerce is not limited to the simple transaction, but it is inclusive of a range of services , for example advising users, the provision of an electronic catalog, after sales service or a secure online payment.
Tags: e-Commerce, concept and meaning of the term; monitoring process of e-commerce