The Benefits of E-Commerce to the Small Business Owner Essay

Executives used to imagine their companies as the center of a solar system orbited by suppliers and customers. The Internet is changing that dramatically. Now the customer is becoming the center of the entire business universe. E-commerce relates to that part of e-business that includes transactions that involve money. The larger concept of e-business, however, goes well beyond buying and selling items on the Internet. E-business is about using information, technology, and resources to conduct business online. The processes of marketing your goods and services to your members, e-tailing, can be compared to a store front where you display products and solicit business from others. Local, national, and international†¦show more content†¦revenue in 1998. A company may expect to receive more than 50 percent of all revenues via e-commerce in the next two to three years (Richter, 48). The core of e- commerce is between businesses, and this segment is thriving. Business-to-business e-commerce makes up the largest portion of Internet commerce, with sales totaling $8 billion in 1997, according to Forrester Research, a market-research firm in Cambridge, MA (McCollum, 34). Small business owners identified their websites as one of the most effective tools for generating interest in their small businesses (13%), better than direct mail, radio, television and telemarketing. Only word of mouth (25%) and newspapers (15%) were considered more effective (Providence Business News, 19B). One increasingly popular approach is to offer ?all-in-one? e-commerce packages, in which merchants pay a nominal monthly fee for software that enables them to build a site that is then hosted by a third party (website hosts) ? sparing the client the cost of Web servers and fast Internet connections. For $100 a month, digital entrepreneurs can post their store on Yahoo?s site and offer as many as 50 products for sale. The more products offered for sale, the higher Yahoo?s monthly fee. Yahoo offers a host of additional features. It aggregates orders and sends them via fax to the store owner for processing, encrypts credit card numbers duringShow MoreRelatedDestination Management Companies ( Dmc ) Essay1177 Words   |  5 Pagesprovides subject expert (SME) knowledge of multiple destinations efficiently. Destination Management Companies specialize in design and implement tours, activities, events, and transportation (Spasic et al., 2014). They create and organize programs for business and leisure clients. Destination Management Companies has advantages over many suppliers: (Spasic et al, 2014): †¢ One contact and payment for several services from different providers at the destination; †¢  ¬Knowledge, experience and on-goingRead MoreSkills, Logistical Infrastructure, And Production1107 Words   |  5 Pagesconduct electronic business. 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