How does e-Business over the Internet differ from
traditional Business?
E-Business is
changing the relationship between merchant and customer, whether it be business
to business or business to consumer Business, or the government isomers of
these.
Relationship building is paramount.
Savvy Internet users know that if they cannot get good service, which also means
an easily navigable web site, they can move on -- and quickly. The Internet is
providing customers with growing power and purchasing control. Shopping agents
will find the lowest price; scams or poor service will quickly be identified and
passed on.
In addition there is still a strong
ethic of 'free stuff' on the web. Consumers in particular are looking for free
information and services. Providing these aspects is a crucial part of
relationship building which will form the basis of electronic Business into the
future.
With the potential speed and
efficiency of electronic communications and transactions, the nature of
inventory is changing. A virtual shop on the web may carry no stock at all,
relying on suppliers to fulfill orders; a small, on-site inventory can be
replenished with just-in-time manufacturing
Tip: Do not build an e-Business site
without adequate backup for responding to email inquiries -- and it better be
fast -- say within 24 hours at the outside, and preferably with an auto-response
if it is to take longer
