Week 1 Post

1) Internet risks – give examples of four things that can go wrong with a transactional site?

Credit Card Fraud

Phishing

Identity Theft

Personal information compromised


2) Write down a definition for each:

a) E-commerce:

E-commerce refers to the buying and selling of goods or products over electronic systems such as the Internet and other computer network.

b) E-business:

Electronic business is defined as the application of information and communication technologies in support of all the activities of business.

3) What is the difference between buy side and sell side e-Commerce?

Buy-side e-commerce refers to transactions to buy/procure resources needed by a business from its suppliers and the difference is that sell-side e-commerce is the transactions that are involved with selling products to a businesses customers

4) Describe the different types of e-Business

B2C: B2C stands for Business to Consumer as the name suggests, it is the model taking businesses and consumers interaction. Online business sells to individuals. The basic concept of this model is to sell the product online to the consumers.

B2B: B2B stands for Business to Business. It consists of largest form of Ecommerce. This model defines that Buyer and seller are two different entities. It is similar to manufacturer issuing goods to the retailer or wholesaler.

C2C: C2C stands for Consumer to Consumer. It helps the online dealing of goods or services among people.

B2C: B2B stands for Business to Consumer. It is the activity of businesses providing consumers with products or services. An example of Business to Customer transaction would be a person buying a product from a retailer.

C2B: C2B stands for Consumer to Business. It helps consumers or individuals offer products and services to companies and the companies pay them.

5) Which digital technology has the highest penetration rate? Explain and source your answer.

The digital technology, which has the highest penetration rate, is mobile phones.

A new study by ABI Research today confirms that mobile subscriptions worldwide passed the 5 billion mark. (MoBlog)

6) List:: Four drivers to adoption of sell-side e-commerce by business.

Drivers to the adoption of sell-side e-commerce:

Expansion of their market -

Businesses could become difficult to do business within specific geographic locations. It can be beneficial for businesses to utilize sell-side e-commerce to increase the amount of consumers they can target across a larger geographic area.

Decrease amount of inventory needed - This will benefit the business would be able to implement timely manner distribution system reducing the amount of inventory they would need to store.

Reduced Costs - Physical space is not required. This will reduce the cost by saving the rent and labor wages. Commercial tax imposed on the business can be limited.

Reduced risk of Cost - Trading can be done anytime and from anywhere. Whereas, Physical stores are closed after the trading hours, so business is not done before or after the trading hours.

7) Four barriers to adoption of sell-side e-commerce by business.

Start Up Costs - Cost involved in starting up a e-Commerce business will be the major barrier.

Time and Resources - As trading can be done anytime; the business should be supervised by all the time. This involves staffs, which involves cost. If the business expands a physical location is required which involves cost time and resource.

Lack of knowledge - Lack of knowledge provides a barrier because a person without basic knowledge of e-Business would lose the business and well as the investment.

Lack of Communication - Communication plays a vital role in e-business because without effectively communicating what their service or product is can lead to dissatisfaction and eventual decrease in business.

8) How might a restaurant in Sturt Street Ballarat benefit from an online presence?

Online presence for a restaurant in Sturt Street Ballarat will benefit the growth of restaurant in different ways. Internet users would be able to place online order. Costumers can check the trading hours of the restaurant. Costumers can reviews the restaurant. Even menu and prices can be searched.

9) What are some examples of Digital information?

- Internet

- Mobile Phones

- CD's

- DVD's

- Television

- Digital Camera's

- E-books

- Video Consoles

10) What is the semantic web? Are we there yet?

The Semantic Web is an evolving development of the World Wide Web in which the meaning of information and services on the web is defined, making it possible for the web to "understand" and satisfy the requests of people and machines to use the web content.

No we are not at the stage of semantic web yet.