Risk Assessment of Electronic Business - Essay Example

Nowadays, the growth of e-business has given a chance for consumers to shop in an easy and time-saving way. It has becoming a trend in our local society to act as the seller or a buyer in this e-business. As to start an e-business, we only need to make an initial low-cost investment In a website. The sellers will probably focus more on the marketing and advertising part with least worrying on Install Investment part.

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However, several Interruptions had brought bad Impacts to our business this time. During our selling of girls clothing on the blob, we had face some unpredictable interruptions which includes major and minor interruptions. Basically, this is our very first time doing business online through a blob. So, each of us still have to use equally more time and knowledge to figure out how to make this business successful so that we can compete with the competitors who are more experienced. Other than that, we are given limited time to do promoting and advertising.

This is kind of challenge for us as countless time of meeting need to be held to speak out everyone’s opinion and to distribute work. For us, the most interrupting problem is the competitors we need to compete with. A lot of competitors were doing the same field of online business with us. Therefore, there Is variety of choices for online shopper to make comparison. A lot of promotion technique that use by other competitors had made their products looks more attractive. We had to plan for a more innovative and creative way to attract the attention by the buyers.

Moreover, the excessive information on the internet had made the online buyers more informative comparing to those non-online buyers. Consumers can get latest and wider information In Just a click so they able to compare prices and advantages easily. Online-shopping allows them to have longer time to make decision. In a conclusion, we need to be more creative, Innovative and have the ability to create attractive sales to win consumers heart. While for the impact of interruptions, excess expenses is definitely included especially transportation fees.

As this is our first experience on e-business, there are a lot of wrong path we had taken. We used to order large amount of sales product from the supplier. Due to this situation, we need to always go and back from the supplier’s office. Excess time and transportation fees will be wasted once we had fewer orders at one time. From all of the interruptions that occurs which stated above, we are even less confidence on the customers’ satisfaction. Customers will tend to search for a new and better online shop if our services do not reach their level of satisfactions.

Customers nowadays will have more dissatisfaction on the service provided as numerous choices are given In the Internet. In this sector (girls fashion clothing), there are a lot of competitors that compete in e- business and non-internet environment. Every marketer tries their very best in adjusting their pricing on the sales product to attract attention and promote sales to the customers. The extreme attendant new technology features has increased interactivity in consumer information processing and decision-making processes.

Hence, it would be threaten to earn targeted profit and also to achieve our mission of income stabilization. Moreover, customers’ loyalty will be likely to be affected by others attracting and fresh advertisement. As too many sellers started to sell products online, we are unable to predict how attracting our competitors’ promoting techniques would be. And it became uneasy to maintain the quantities of sales products that order by customers. Lesser customers will buy higher quantities at one time as choices are all around.