Integration paper
The first week of this module has been extremely valuable for me since it has many practical applications in my professional life. This aspect will be discussed in my personal profile in the next section. The concept of electronic commerce is very relevant in today’s business world and most companies that operate nationally and internationally have their own e-commerce portals or at least a company website to provide basic information about the company. The topics covered this week include two specific areas of e-commerce. The first one was concerned with the technical and non-technical limitations of the concept. The second was the benefits with respect to reduction in cycle time, increasing employee empowerment and improving customer support. The main technical limitations are security issues, reliability of the system and lack of proper common protocols (standards) across countries. Other issues that result in limitations include bandwidth problems, rapid development and change of technology and software (and hardware) compatibility. (Benefits and limitations of E-commerce) The main non-technical limitations include high cost involved, security issues due to human error and interference, and resistance to technology. Other factors that contribute to the limitations include suspicion, lack of legal relevant statutes and issues and lack of number of customers due to low internet usage. Some users like to feel the product before they buy anything, which is not possible in the case of e-commerce shopping. “For example, chances of selling automobiles over the Internet will always be low, because people prefer to see, touch a car and drive it before they buy it, which cannot be done to the Internet”. (Developing a successful online retail strategy 2006). It appears to me that limitations (mentioned below) are more relevant for areas where infrastructure development is low. In an area like Hong Kong where technology is fairly well developed many of the limitations are not relevant. With regard to the benefits, e-commerce can help to reduce cycle time by speeding up the communication process among all the parties involved in a transaction. “At Lockheed Martin Missiles and Fire Control in Dallas, e-procurement is one tool purchaser uses to reduce costs and improve cycle time”. (Avery 2009). E-procurement can be said to be a part of the whole e-commerce cycle. Employees at Dell can now take decisions with regard to sale of systems which results in enhancing employee empowerment. Customer support is also increased due to features like FAQ, online query, detailed product information and online shopping (saves time). “With email, a web based browser and a solid database server; you can handle 5 times more users than the traditional customer support systems, dramatically improving your customer relationship management.” (Customer relationship management 2007).
Personal profile
I am the managing director of a well established garment export company based in Hong Kong. The garments are exported to European markets. The company named Thai Lay Fashion Company Ltd has been in this business for the last fifteen years. Professionally this whole course and this module in particular have been very useful to me. This is because I have simultaneous practical experience coupled with my studies, which is something not every student can have. I can identify personally with many of the topics, theories and models that I learn in class each week. Many of the situations that I see everyday can now be connected to the theory that I learn. It makes my learning process more interesting and even easy. Thai Lay Fashion does not yet have a full fledged e-commerce site even though the company maintains a website. Now I can seriously think of starting one with due regard to the costs involved. I will be able to present pictures, prices and other relevant details of all my products on the proposed site which will help in saving a lot of time for potential customers. I can provide accounts for customers where they can safely provide me with the designs and style they need for their products. This is now done by sending actual samples and then by email attachments. I can also provide a chat session with each customer when they log into their account on the company home page. I can then slowly introduce e-ordering and e-payment after implementing secure payment gateways like Verisign.
Personally I am a friendly person who is interested in meeting new people and making friends with them. I like to maintain good social relations with most people I meet. I also like to do social work and am engaged in a number of such activities in Hong Kong. Currently I am doing my MBA course as a part-time student while continuing as the managing director of my company.
As mentioned earlier this course has many practical applications in my professional life and I try to take maximum benefit from it. I have attended the classroom CUSTOMER TO INSERT NUMBER HERE times out of a total of six. I have also completed my assignments as per schedule. My tutor, as usual, has been very helpful in all aspects of my learning.
Bibliography
AVERY, Susan. (2009). E-procurement is one tool to reduce cost, cycle time. Web.
Benefits and limitations of e-commerce. Web.
Customer relationship management: Customer service tools. (2007). Network solutions. Web.
Developing a successful online retail strategy. (2006). Aylos interactive developing e-business.