E Commerce Is The Most Happening Aspect †Myassignmenthelp.Com

Question: Discuss About The E Commerce Is The Most Happening Aspect? Answer: Introducation E-commerce is the most happening aspect of businesses in the present world. With the advent of internet as well as the connectivity options through different web interfaces, everyday lives of people have undoubtedly become simpler. Though the concept of e-commerce was introduced around forty years ago, the use and benefits from this business plan are huge. The concept of e-commerce basically focuses on buying and selling of products online. Several advantages make the online businesses work as well as lead to their success. E-commerce is famous because the facilities of buying, choosing for a variety of options as well as selling of products online is available all round the clock. Previously the business was almost non-existent but slowly it has developed as a threat to the traditional shopping and trading industry. Apart from the concept of choosing, buying and selling online, the availability of people all round the clock help them to share their views about the industry as well as give their feedback about the shopping experience (Sekaran Bougie, 2016). E-commerce is not always positive in its impact. The negative aspects of e-commerce comprise several fears. These include the anxiety over theft of identity as well as fraud of credit card. Problem also arises from the inability to see or feel the product physically. Online purchases which involve high costs of shipping may incur losses due to this reason (Blank, 2012). Though the companies allow the free shipment facilities for those customers which exceed a certain limit of purchase, still some losses are bound to be incurred by the company. Keeping the background of the economy in mind I feel that the best start up business for India, which I wish to start, is in the food and consumption industry. The demand of several sorts of food items in India is always at the forefront. People of India are considered to be big foodies. Though e-commerce supergiants in the food industry have already established their foothold, it is necessary that variations be brought about in the existing market. It is also to be borne in mind that the food industry however densely occupied it mind be by new companies or individual owners, will hardly ever be saturated. The first and most significant step of opening a start-up is doing the necessary market research. In order to understand the frauds and the problems that can be faced by a new start up in the market it is important to understand the nature of the existing companies in the respective markets.. Also it needs to be understood that for a new company establishment of a strong foothold in the existing market is not easy. So the possibility of it failing cannot be ignored (Cortimiglia, Ghezzi Frank, 2016). For a successful foundation of an e-commerce business, it is essential to understand the economic aspects of a firm in terms of the financial or economic market. It is also essential to understand that the saving of funds for future use is extremely important. Since the business considered is related to the food industry the accumulation of funds is essential for the start-up (Mller Thoring, 2012). I want to form a company which focuses not only on the delivery off different food items but also gives a platform to home-makers for their innovative homemade food items to be sold. The innovation in this start-up is the scope for the homemakers mainly women to earn as well as indulge in their passions. This innovation is bound to create interest among the homemakers. The organisational structure should be hierarchical. Helmed by a manager, it should comprise of managers for different segments, namely food, products, delivery, orders acceptance, queries, selling of home-cooked products and so on. Finally it can be said that, the managers should be selected after the company grows to a certain size (Kim Wagman, 2014). Professionals should also be hired to consider the top leadership roles of the company. Even if the owner of a company oversees all the operations and does not appoint any operations manager at the beginning the company can reach great heights (Jones et al., 2013). The PESTLE Analysis of the company should be done and the factors that can affect a food company start-ups foothold are discussed (Brooks, Heffner Henderson, 2014). The analysis consists of understanding the political, economic, social, technological, environmental as well as legal factors. It is summarised n a tabular form as follows: Political The start-up needs to follow the government regulations The start-up should not face any problems as it is out of political intervention Social Online buying patterns of food in India are high High demand for products and services as well as being socially active will prove a plus Economic Ease of planning and doing business in India paves the way for the economic advancement(Hosseinzadeh et al., 2016) The success of the company will also contribute to overall e economic growth Environmental The Indian environment is suitable for food manufacture Labourers and workers will also be easily available Technological Advancement of internet and the companys online presence will be a huge positive aspect Outsourcing decisions as well as rate of technological change are also kept in mind Legal The company abides by all laws namely the consumer law, health and safety law as well as employment law The potential of the start-up company can suffer due to the recession as the online orders from the company websites are bound to reduce due to the recession rates. The external factors are difficult to be controlled but the internal structure of the company should be controlled. At first, people with knowledge of all, or more or less all sectors of the economy or e-commerce industry should be hired so that the funding is saved for other important features of the company. The hierarchical organisational structure should be implemented in the start-up but after the company has reached a certain height. A separate menu should be created which comprises of the separate segments. One segment should show the items prepared by a specially selected team of cooks, other segments should include the home cooked items sold at the portal. A good we designer should be hired or a person with good web designing skills should be appointed to create a portal with all the necessary fields. I feel that after the company expands, several techniques of business enhancement as well as the betterment of organisational structure should be implemented. Several surveys should be conducted about employee motivation and their results analysed and implemented to keep the employees happy and motivated throughout. The managers of the different segments should be properly taught to manage the smooth operations of the company (Cassar, 2014). Food and food-related industry is bound to face immense competition in India specifically. So for my company to operate successfully it is necessary that the services are good, the marketing operations are successfully conducted in terms of online advertisements, mention in social platforms, possible creation of the companys own application informing the users of all the services as mentioned in the portal (Galbraith, 2014). The mention of the company in the newspaper advertisements is also feasible. Importance also needs to be given to the quality of the food items delivered. Specially, in case of the new and innovative segment, it is necessary that some testers are appointed to check the taste as well as the quality of the food items which are sold by the homemakers or other individuals (Hosseinzadeh et al., 2016). The SWOT Analysis of a company that is a start-up involves discussing about the strengths, weaknesses, opportunities as well as threats. The analysis can thus be given in a tabular form as follows: Strengths Ideal for the area of service that is India Popular and effective for people who do not have time to cook at home Innovative concepts incorporated contribute to the demand Weaknesses No strong backup Too much of knowledge unavailable for the successful business operations No pre-established name in the business Opportunities Scope for broader horizons Employment and career opportunities for many(Andr Cavalcante, 2013) Chance to become successful entrepreneurs Threats Competition from established and already successful food giants Chances of not being accepted by the people Probability of shutting down Initially the food industry does not direct impact the environment. It should just be ensured that the food items provided to the customers are good quality and leave no scope for complaint. The sales functions meaning the advertisement should be taken care of (Eisenmann, Ries Dillard, 2012). Possible partnerships should be considered after the expansion of the company. The company should innovate well and this should lead to the enlargement as well as branching of the company. New avenues keeping up with the changing times should also be implemented in the company profile (Jones Penaluna, 2013). Thus it can be concluded that setting up of a company is a complex process and no specific factor can be identified as a formula for success. References: Andr Cavalcante, S. (2013). Understanding the impact of technology on firms business models.European Journal of Innovation Management,16(3), 285-300. Blank, S. (2012).The startup owner's manual: The step-by-step guide for building a great company. BookBaby. Brooks, G., Heffner, A., Henderson, D. (2014). A SWOT analysis of competitive knowledge from social media for a small start-up business.The Review of Business Information Systems (Online),18(1), 23. Cassar, G. (2014). 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