The purpose of this assignment is to identify strategies and objectives for elec
ID: 375110 • Letter: T
Question
The purpose of this assignment is to identify strategies and objectives for electronic commerce initiatives, discuss types of implementation costs and Web hosting service features, and describe the process of managing electronic commerce implementations.
Respond to the following by writing at least one paragraph for each item and support your response.
1) Identify four objectives that the company needs to target with this implementation and indicate how each will help the company’s growth. Also decide on how you will rank the list in order of importance and explain why you selected this order.
2) Although the company has not discussed a budget amount, the Chief Financial Officer (“CFO”) has asked you for a “ball park” figure for the initial costs and ongoing annual costs. You may assume that this will be a large online business and you may use the dollar amounts provided in the text in the figure entitled “Estimated Costs For Business Web Sites” or search for this information online. In the event that the CFO does not want to spend the money, describe how you will counter this by explaining the concept of “opportunity cost” and give two examples that should be considered.
3) Based on the requirements involved, the company has decided to outsource the Web hosting function. In preparation for the decision, prepare a summary of Web hosting service features that need to be considered.
4) Since this type of initiative has never been undertaken by this company, describe the process of managing the electronic commerce implementation. Make sure to address the concept of project management and name and describe at least four new positions that would need to be created and the duties that each person would perform.
Explanation / Answer
Strategies and Objectives for electronic commerce initiatives
Electronic commerce has become a best choice in the today's world to market a product through online media. E-commerce has provided a large platform to reach to the choice of customers and allow them to choose from the variety of products available in the e-commerce site.
Item No. 1:
Following could be the foremost important four objectives that the company needs to target with this implementation
a) To getting into new market
b) Developing New Vendors
c) Identifying or targeting new group of customers
d) Introducing new products in the portfolio
Each above objective will help in company's growth as a contributory factor for developing business in the developing market and also in the home market. This will also help in the development of new vendors who will support to grow the business by providing required raw or finished good in timely manner and therefore company has to develop and create a list of approved vendors who can meet the company's requirement. The target customers shall be developed based on the product portfolio designed for the particular group of customers and specifically market those product using social media to market the products online. Once the product sales of company's product have started in the e-commerce platform then it will be easy to develop new products and to add them in the existing list of available products in the company's product portfolio. Each one of the objective has been selected in the order to achieve each objective in one by one manner so that it can fulfill company's requirement.
Item 2:
Since the company has not discussed a budget amount then we have to go for all estimated amount which shall be required to start the business and keep running on the e-commerce platform. The main cost which shall be required to go live for e-commerce is the web hosting. Web hosting can be outsourced and as per current market web hosting can be developed though an external source at a approximate cost of $10-$100 depending upon the requirement of our items which we want to get developed in the marketing site.
In the event that the CFO does not want to spend the money then we have to advertise contents of some other products of a third party already in the electronic commerce so that customers who will visit on our site shall also see these advertisement and by this we can earn opportunity cost to help run our own business.
Item 3:
In case company has decided to outsource the Web hosting function then following Web hosting service features need to be considered to fulfill the requirement of company:
Firstly company employee need to share the required information about company's product with the team developing the web hosting as a outsource company. Once all the information shared then web hosting service shall provide a initial model of the web site in that case we have to see if any modification required in the same or not. Step by step the final web site contents shall be finalized which can be allowed to go live on company's e-commerce web site. Since we are marketing our products using e-commerce then we have to consider following Web hosting service features
a) Appropriate shopping carts
b) Pricing information of products
c) Contact information
d) User statistics
Item 4:
Since this is the first time company is using e-commerce platform to market the product then company has to check that each listed objective is achieved in the phased manner so that this initiative can be make successful using the e-commerce platform.
As a project management processing first and foremost important thing is planning and control of activities which are undertaken in the project. Secondly we have to go for Project management software also which can help us to monitor the development of project ongoing stages and better control on them. We also have to manage the involved cost in the project and also the completion time.
Following four new positions also need to be created
a) Project manager : Who will look after the management of the whole project in timely manner and report to CEO.
b) Account manager: Who will take care of all expenditures occurred are recorded for audit purpose and tracking of other expenditures required in the running of the project.
c) customer Service Representatives: To help the customers if they phase and problem during purchase of a product also guide the customers in purchasing and describing product.
d) IT system admin: Since the e-commerce is totally based on information technology so it is required to have a eligible IT admin in place to trouble shoot any IT problem during running of web site.
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