OPPORTUNITIES AND PROBLEMS OF SOCIAL ELECTRONIC COMMERCE
A huge margin of modern consumers has seen the need of bridging the gap between them and the manufacturer or producer. From the comfort of one’s phone one can easily make orders of the various products they want. Today, more business franchise such as shoppers stop, big bazaar or even Crossword have been able to come up with online marketing platforms aimed at adequately interacting with their respective consumers. This is essentials as it allows consumers to adequately make online purchases in due time. As a result of this technological advancement, more and more businesses have been able to effectively interact with their respective consumers hence allowing them to maximize their profits in due time. iii. To specifically identify the various opportunities and challenges of electronic commerce.
iv. To understand the role played by electronic commerce in enhancing consumer satisfaction. Project Scope Electronic commerce has in the recent years continued to gain tremendous growth. From the comfort of one’s phone one can easily make orders of the various products they want. Not only does this advance effectiveness of buying goods but also saves the time used by both parties (Syed, 2010). Efforts involved in advancement of technological tools have enabled different fields in the society to grow over time. This being the case, the introduction of modern technology has adequately led to enormous growth in the business world hence allowing the various stakeholders present to come up with ways of ensuring that both parties (buyer and seller) are able to meet their respective needs.
Because of the introduction of modern technology in the Australian service sector, locals have been able to efficiently benefit, business-wise, from e-commerce hence leading to the economic growth of the country. 7 billion by the end of 2018. One of the major factors that have been attributed to the enormous growth of the electronic commerce sector is the availability of advanced and easier methods of payment. Different businesses have been able to come up with better and more advanced methods of payment that are convenient to their consumers. For instance, some online businesses often allow their customers to use mobile banking services as a viable means of paying. As such, consumers may be able to pay for the various products they have purchased through the use of either debit or credit cards (Cruz-Cunha, 2016).
According to Lee (2016) the current online market size in Australia is projected to be about 7. This is slightly higher as compared to businesses that are currently operating under traditional commerce. Based on the latest data available, the annual economic growth rate in the country’s online retail market is estimated to be 6%. Owing to the stated statistics, major international business enterprises have gained significant interests towards practicing in the country. Some of the key players that have been able to do so include Alibaba and Amazon. In the recent past, the industry was able to introduce a modern system where passengers would be able to book their tickets through their respective online platforms. This being the case, more consumers have been able to adequately engage in the use of the internet to ensure that they are able to obtain their respective passes on time to avoid inconveniences of any kind.
This in return has led to the growth of electronic commerce in the country (Lubbe, 2016). The existence of faster and better internet connection has enabled e-commerce enables businesses to gain an extensive market reach. Initially, business owners’ retail stores only had the opportunity to present their services and products to a limited consumer base. Alternatively, electronic commerce has revolutionized this problem by allowing consumers to efficiently access the various products and services they might be in need of regardless of their physical location provided they have adequate internet access. This, in turn, enables customers to save on miscellaneous costs that could have otherwise been avoided (Syed, 2010). Research Questions Understanding the extent at which electronic commerce may be applied in the modern society may prove to be an extensive task.
As such, the research is often required to adequately come up with conclusive information regarding e topic before he/she is able to draw logical conclusions. To better understand about the topic this study attempted to answer the following questions. The criteria of issuing out the questionnaires was based on the dependability of the respondent was aware of the electronic commerce or not. Only those that were conversant with it were allowed to take part in the survey. Key-Informant Interviews The study was specifically targeted towards ensuring that the various stakeholders involved in the electronic commerce business would be able to share their insights regarding the topic. As such, the study was able to come up with interview schedules for employees working for major online businesses available in Australia.
The interviews were conducted with senior employees as well as the ones in the junior level of the various organization. Time Schedule The entire study was distributed within 11 weeks. The following are some of the activities that took place during the specified time period. WEEK ACTIVITIES Week 1 and 2 Problem identification Week 3 Proposal drafting Week 4 Proposal Writing Week 5 Proposal reading and polishing Week 6 Reviewing of the proposal Week 7 Practical data collection in the field Week 8 Data entry. Week 9 Data analysis. Week 10-11 Final research writing and proof reading Conclusion In the recent past, the electronic commerce industry was able to introduce a modern system where customers would be able to efficiently access some of the most basic services towards meeting their respective economic gains.
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