MSc In Electronic Commerce (Business)

Your Ecommerce Business Is Dead Unless You Apply This Long Term Strategy

Technology is drastically changing the business world as e-commerce offers endless opportunities for entrepreneurs with quick, easy and inexpensive ways to create an online business. The application for the plan will determine its structure, but the following format will provide a solid base that can be easily built upon depending upon the circumstances. Popular faces like Tim Ferris introduced many people this relatively new term in 2015 and it looks like that is just adding fuel to the fire for 2016. However, other stakeholders are rapidly identifying the vast potential of a changing, data-driven, ecommerce market environment, and are keen to play a role in shaping its future and reaping its benefits. Amazon has since expanded its stake in rental ecommerce with Amazon Flex, which hires temporary drivers to deliver Amazon parcels in certain US cities. Its always smart to have the name registered in the event someone pays you under your business name and not your personal name etc.

E-commerce in US gained 14.6% growth in 2015 E-commerce B2C sales volume in 2016 (worldwide) touched 1922 Billion and is expected to touch 2356 Billion by 2018. A good way to test out your company name is to tell it to your friends and ask them if they remember the name in a week. Lifestyle and fashion have always been the biggest drivers of eCommerce industry. I would recommend reading Rework” by the folks at 37 Signals before thinking about writing a business plan.

Most merchant service providers offer this type of bank account, which acts as a holding location for the debit and credit card payments an e-commerce business collects. Involved in creating a detailed System Test Plans, Test Cases and Test Scripts for different modules in the Application according to the Business Requirement Documentation. Starting and running a small business almost inevitably means that money is going to be tight at some stage – often for a prolonged length of time – until the business can start generating a decent stream of revenue. Gathered requirements from the business and technical end to develop the mainframe and the web portal backend. If a business analyst sticks to the basic principles of business analysis and have learning attitude, these challenges can be overcome.

Analyzed the user requirements and created Use case and Activity diagrams and then compiled it into Business Requirements Document. Good product descriptions (see below), SEO and marketing are what will drive people to your ecommerce site. Experience in Business Process Re-engineering (BPR), to make current process more effective. We will read and respond to comments submitted after hours, on weekends, or on holidays as early as possible the next business day.

From the above examples it is very clear that the businesses that have adapted and embraced E Business and E Commerce have managed to be successful and ahead in the industry. Yet, they often fall short because the focus is typically on how technology will change the business – not how the enterprise will change to fully embrace the digital innovation’s potential. Here are some good ideas, trends and predictions to mind in order to make the most of 2016 for both your business and the people it serves. Or, look for feedback and advice from groups like the Small Business Network on LinkedIn. As this ecommerce is huge and some financial knowledge is required to understand share trading I am not touching this part. This again may be due to the diverse nature of the retail our research confirms that there is an association between the hyperlink counts of retail companies’ websites and its business performance, thereby answering our research objective.

A common mistake that many make is starting on the tactical plan before they have ironed out the strategic plan. Upon implementation, the Sr. eCommerce Business Analyst will be the designate the participants in the ongoing support and future enhancement development for the respective applications. If you are planning to do a lot of search campaigns or grow organically through SEO, you should further dismiss all product ideas that have high competition according to the Google Keyword Analysis Tool. One very simple way to go about this is to convert some of your better products into an Amazon FBA business on top of the ecommerce website. If we look at global ecommerce business indicators, Europe still just leads the global market in ecommerce.

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