Thursday, September 26, 2019

Emerging Technologies that address interoperability issues in an Essay

Emerging Technologies that address interoperability issues in an e-business environment - Essay Example New technologies have been introduced through e-commerce to give a wider exposure and innovate new ways of conducting businesses, which has introduced a new dimension in technology known as E-business. E-business’s presence is important for expansion in business, dissemination of information and access to physically inaccessible markets. In today’s dynamic world, companies spent heavily on their IT departments for the technical support to smoothly run their e-commerce activities. Companies even develop strategies through e-business to reduce cost of the business, expand sales and increase customer services and satisfaction in the long run. E-business is widely used for many business purposes like product research, order entry; customer’s related matters like support, services, communication, inquiry, invoicing etc., outbound and inbound logistics. E-commerce has revolutionized not only businesses but every aspect of life; the world is now a click away. (Ray, 3) C hallenge from the Competitor in E-Business Environment including Supply Chain Due to increased e-business services and advancement in IT related matters, competition has geared up in every sector tremendously. Nowadays, competition has intensified due to e-business activity like business to business (B2B) or business to consumer (B2C) transactions or transactions that incur after sale. These facilities and easiness to conduct business has caused cost efficiency which has attracted more competition in every sector. Increased Competition Due to Low Entry Barriers Due to tremendous benefits offered by the e-business, the competition has increased, which has affected business in many ways. The e-business has lowered market entry barriers and it is now comparatively very easy to enter business than it was previously. Initially, large investments and established contacts were needed to start up a business which is now replaced by easy entry in to the markets which is now a click away. Thi s has made competition severe and is a threat to many established business. The internet as a medium to exchange information has made customers close to the businesses which has brought great challenges to the existing businesses. Now there is a continuous threat to every business that another business established in no time can take away its customers. Thirdly, globalization has added to the increasing competition. Internet allows the customers to exchange information anywhere in the world, which has made the businesses of the world compete with each other. (United Nations, 142) Continuous Cost Reduction Due to e-business, the markets now seem to be more of a perfect market where there are many competitors striving to gain their positions. In such a market, cost leaders prevail. Due to closed links of customers and suppliers in the supply chain, cost reduction is an achievable task in today’s business and many business strategies are based on this. In this cost reduction rac e, every business has to continuously work on its cost reduction strategies in order to compete effectively. Secondly, the transaction costs are reduced for the customers due to extensive information available over the internet. This also puts up a pressure on the businesses to increase their presence over the internet. (United Nations,

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