ECommerce in Global Business Management

1
E-Commerce in Global Business Management

• Introduction
• Objectives
• What is E-Commerce
• E-Commerce Cycle
• Business Plan
• Strategies
• Project
• Summary

2
Objectives

• To develop a better understanding of the steps
  involved in
• Starting a new E-Commerce store OR
• Adding an E-Commerce solution to an existing
  business

3
What is E-Commerce

• Common Myth Starting an online store is easy.
• Definitions
• B2C vs. B2B
• New vs. Existing
• Options Buy, lease/rent.
• Growth, Trends
• Employment Opportunities

4
E-Commerce Cycle
5
Business Plan

• Mission
• Objectives
• Strategies
• Tactics
• Plan your work and work your plan

6
The Basics

• The 3 Cs Company, Competition and Customer
• The 4 Ps Product, Price, Place and Promotion

7
Strategies

• Create a product or service that everyone wants
• Create barriers to entry for your competition
• Create an excellent management team,
• Create adequate resources (funding) to advertise
  and market extensively,
• Provide Excellent Customer Service
• Make your growth sustainable.
• Exit Strategy Bail out plan !

8
Create a new Product or Service

• Register a domain name
• Identify target market,
• Determine the market size,
• Determine pricing,
• Evaluate competition,
• Market research (qualitative and quantitative
  evaluation),
• Create sustainable competitive advantages

9
Creating Barriers to Entry

• Pioneer a product
• Strong marketing campaign,
• Superior product, patent or copy- right
• Competitive pricing,
• Excellent Customer Service

10
The Management Team

• Senior Industry Experience
• Recognized by investors, employees, suppliers,
  media and/or customers,
• Aggressive line managers
• Highly skilled employees
• Performance based compensation plan

11
Marketing Advertising

• Remember more than 50 of cost of doing
  business could be Marketing Advertising
• Think how could you convert a browser into a
  customer !
• Create a strong budget - spend !
• Create a solid plan - execute !

12
Customer Service

• Customer Service-centric approach to Business
• Deliver what you promise
• Make your site customer-friendly
• Make your customers feel secure
• 24/7 Customer Service Center
• You will never get a second chance to make a
  first impression

13
Sustainable Growth

• Remember Growth has a down-side too
• Expandable capacity
• Consistent quality
• Continuous sales forecasting
• Capacity utilization studies
• Additional funding for account receivables

14
Exit Strategy

• Hope for the BEST but be prepared for the WORST
• Contingency planning
• Harvesting strategy
• Diversification
• Salvage value analysis

15
Project

• Select a Project Either starting a new
  business or adding E-Commerce to an existing one
• Using what we have learned, create an outline of
  a tactical plan to start the business.
• No specific format required
• Time One hour

16
Summary

• Recap what did we learn today?
• Questions
• Evaluations
• Thank you !!!!