1) What I have gained in my learning issues? I’ve gained much more knowledge than I have in lecture while doingthis problem based issue.
It makes me understand the more intact of setting upan ecommerce website and the important things for an ecommerce website. Beforetouching on this problem based issues, I’ve gain a slight knowledge throughe-business lecture, however with all this issue I’m able to go in depth to theresearch. Before this problem issued to us, I never know how an ecommercewebsite is being set up. The back-end user must do so much then just merely settingup the website. We have to come up with the business model to know how itoperate and manage, as well as knowing the components to it.
However, this moduleallowed me to know the issues of ecommerce. With the different aspect offactors that built up a ecommerce website, it makes me understand more of theproduct and consumer. The personal benefits that I have gained is that it improvesmy communication skills in class and being able to analyse the problem given tome with the help of lecturer’s guidance and to keep up with our research everyweek to know where we are at, and any difficulties that we are facing. Not onlythat, lecturer also help us by giving tips on researching on issues on how tounderstand them more.
Based on the 3-learning issue I learnt, first issues were to findout what are the different e-business model market. Well with 3 types ofbusiness model, B2C, B2B, AND C2B. B2B are usually the one that focus onselling product directly to consumer. It’s similar to website like Taobao,where consumer buy things online and then order was processed and shipped. Notonly consumer can do that, business organisation can go through the orderprocessing through the website. They can track their item process to know wherethe item is. While, for this kind of businesses, obviously we would be usinge-payment which is the ‘no-card-present’ payment.
E.g. E-Payment. This is wherecustomer key in their card details in the system, and it will automaticallydeduct from their card. This kind of e-payment helps business cashflow toimprove significantly. But with this kind of payment, consumer have to takehigher risk as they might have hackers around to hack the system. Therefore,all this requires us to operate on a well-defined set of rules.
Secondly, forB2B, i learnt that it is often between a manufacturer and a wholesaler.Example, the manufacturer can sell the product to the consumer directly as aplatform. As for the wholesaler, they can sell the product in quantities to a’middle person’ and sell it to another consumer. Which means the middle personis considered a supplier. Often, B2B is like a trade online. Where buyers canbid against each other on online. Therefore, for bidding its split into twoparts. One type is the one where lots of goods are sold to the highest bidderand another type is supplies compete on price and for the lowest price theywill get to win the bid.
Which is the online auction. Not only that, for largequantities of product, its usually offered discount for consumer, where theycalled it a e-marketplaces. All this helps to encourage the businessonline and position the trade guides. Lastly for C2B, it that business canextract value from consumer. Example, it’s like a market research and feedbackfrom consumer. Where business can earn profit from consumer, where they canname their own or they can contribute the data in the company.
But forconsumer, their profit is earned based on flexibility and direct payment. Second learning issues was what is ecommerce infrastructure. Anecommerce infrastructure is functions consisting of hardware and software.
Which correspond to the level requirement. Other than the hardware andsoftware, it also describes the management and operation of the system. For theoperation management, where they call it the retail services framework. Whereit incorporates the best practices of an retail service. This kind offramework, help to lower the barrier of entry and encourage large adoption ofretail services by retailers.
It comes with 4 services and 2 interfaces.Different types of services help to fulfil different needs of retailers. Thistechnology capabilities of service provide retailer with effective e-commercepresence which can be used to complement their existing stores, and tostrengthen their business strategies to manage the future challenges fromonline store.
While interfaces are between the retailer and ecommerce serviceprovider and also the logistic service provider. This system will automaticallypopulate the relevant data among the retailer, ecommerce and logistics to aimthe increasing of workflow to be efficient and accurately. Hardware andsoftware components are important in order to create a good and reliablewebsite for consumer to shop. It helps consumer to make it feel trustworthy toour system.
E.g., web hosting is usually a developer that pay a hosting companyto provide a secure web server. Not only that, successful ecommerce companiesdefinitely have a recognise domain name. So that no one are able to steal yourbusiness models. While database system is used to store information of theproduct/services such is image description and pricing.
Not only that, customeris able to store their details in the database such as their payment andshipping details. For this, it is necessary for website to be connectedsecurely so that database orders would be processed correctly, and this willensure that business will be able to run smoothly. lastly, for my learning issues I learnt that customer feedback isimportant. Because to keep a valuable consumer, we have to keep up with ourproduct. Not only that, we are able to know whether consumer is satisfied withour products or services. These opinions are usually a resource for us to improveon our customer experience as well as to know their needs. It can help usdetermine our product whether it surpass the customer expectations. It offersamazing experience to keep our customer coming back also referring theirfriends to us.
But with dissatisfied customer feedback, they will go to anothercompetitive store instead of ours. So, with such feedbacks, it ensures us tohave better experience. Tangible data helps us further real insight on how ourcustomer really feel about our product/services.
This is a guide to ourbusiness, as it contains large percentage of customer suggesting featuredproduct. So, with this feedback it also helps us to keep up with the latesttrend in the market. Well, businesses don’t wish consumer to be keeping up withthe old technologies where products don’t come in handy. With this customerfeedback, we can know the latest market trend, so these help to improve ourproduct and to keep up with the desired things from customer. With this populartrend, business can keep up with the market. Subsequently, customer wouldignore the tempting offers and remain royal to us. Above mentioned, I’m able toanswer the research being given.
From the three research that was issued to me, it helps to answermy question relatively well. Just that, during research I lack of some keypoints. So therefore, I went to do up a further research on it based on thesame learning issues. Well doing on this research learning, I shared with my membersabout my finding. We discussed the learning issues, and found out that itsquite similar. So, we communicated on the issues and come up with something differenton the research.
So, with my teammates comment and feedback, I try to producemore research on my learning issues, as my research is lesser than myteammates. Well,now that I’ve understand how to set up an ecommerce website, it helps me toknow more about consumer needs and wants. Consumer would be the priorities,that helps to build up the successful website together. We can enhance theecommerce website by having reasonable pricing for consumer and free shippingwill be included on launching. One point is that, we can know what consumers wants.And another point is to provide free shipping fees first, so when product isdelivered to consumer they would feel safe about it. Not only that, we can comeup with a mobile app. As now, it’s a technologies world where phones act as acomputer.
Mobile app user has significantly increase over the years due to technologieschanges. So, coming up with a mobile app would be a great help to our business.It will be convenience for consumer to shop online using app anywhere they want,and made payment through e-banking too. With this mobile app, they couldconnect with the social media. So, it is easier to come up with reviews of ourproduct and also social login can help with conversion funnel.
Not only that, sociallogin is easier for us to collect customer information. It’s important, becauseif we were to have discount it is easier to contact consumer about it. Additionalto that, we can build up our databases and to aid the future launches of ourecommerce website. Lastly, the most important thing is to have our ecommercewebsite to keep up with the latest.
As technology changes, we could do anupgrade on our website. Because consumers taste will keep changing. As consumertaste change, trend would follow the consumer taste. Therefore, it’s never easyto satisfy customer needs.
So, we need to keep up with the latest trend to beable to keep up with consumer needs. Withall these learning issue finding, I’m able to cross-reference with mye-business management lecture 1 and 2. As for lecture 1 and 2, it taught us thetypes of ecommerce models as well as the basic infrastructure that needs tobuild up for ecommerce website. Which is related to my learning issue 1 &2. The learning issues was enhanced bythe effectiveness of lecturer teaching style and as well as the materialsprovided in class. . Peer Evaluation Lastly,during peer teaching I’ve gained that working with teammates requires more thanjust discussing verbally. We need to act, example helping each other when there’sdoubt in research.
My teammates, help me to improve my communication skills significantly.Not only that, but also help me to boost up my self-confidence in groupdiscussion. Although, it’s normal to have some conflict in group discussion aseveryone have different views and opinion, but we manage to come up with a combinedsolution from everyone views and solved the conflict. Another lesson that I’vegained through peer teaching is that, we are to come as a team to solvedifferent difficulties as different people strength and weakness is different. Separatingour task as a group, help us to be more efficient and effective in our work andthis will help greatly in my future career.
So therefore, with my teammate I’msure they able to help me understand e-business management more. Not justthrough research, but the interpersonal skill achieves by them. So, to sum up,group discussion affects largely in your communication skills and confidencelevel. Which is equals to the interpersonal skills.
Inconclusion, this self-reflection helps to pulls my knowledge further as stated Inever come across creating an ecommerce website. With this, I’m able to know whoare the specific target and components to set up an online business. This help toincrease in the areas that I’m lacking in. It also been a great help to improvemy thinking abilities as well as developing my mindset in positive terms. Withthis e-business management, I’m able to communicate through differentcommunication channel, just like setting up an ecommerce website.