E-commerce In The Modern World: Advantages, Legal Issues, And Future Trends
What is e-commerce and how has it revolutionized online financial transactions?
1. What object (people, places or things) does it suggest you need to study?
2. What kind of study does the question suggest (empirical–e.g., ethnography, case study, descriptive study, experimental; historical–oral or archival or both; theoretical; discourse or textual analysis, etc.)?
3. What data do you need to collect? (artifacts, texts, people doing something, interviews, etc.)
4. How will you analyse the data? (qualitative? quantitative? hermeneutics? discourse analysis? historical? etc.)
5. Be very specific in both the data you will examine and the ways in which you will analyse it.
Online financial transaction is considered to be one of the most basic and comfortable source to purchase product from online seller (Gouge, 2003). Online trade helps the individual to save times and energy as well. The online financial transaction technology is utilises on different organization and the application consist of e-commerce, order processing and the net banking.
The business done on the internet is defined as e-commerce. The buying and selling of goods and services through the internet with the help of an interface is termed as e-commerce.
The product features and the product are essentially displayed through a catalogue on the internet. Internet connected computers, mobile phones or tablets can be used to view the catalogue (Hedley & Aplin, 2008). The customer places an order on the internet itself after the customer decides to buy the product which is done after decides to buy the product. Payment modes can be of two types-over the internet or cash on delivery of the product or service. E-commerce uses various secured applications called payment gateways for the purpose of online payments. E-commerce is the name given to this electronic process of buying and selling of products or services
For business purposes, e-commerce can be the part of a larger business format of direct selling or retail selling or it can be a single business in itself. This form of business uses technology of the internet and allows an organisation or an individual to conduct business over an electronic network, essentially the internet. All the four major market segments- business to business (B2B), business to consumer (B2C), consumer to consumer (C2C) and consumer to business (C2B), can use e-commerce to sell goods or services. Many consider e-commerce to the modern version of mail-order purchasing through a catalogue. E-commerce can be used to market and sell almost all types of product or services ranging from books, music, financial services to air tickets (Laudon & Traver, 2002). The fundamental aspect for e-commerce is the platform upon which the e-commerce website is built. The website platform or application could turn out to be the solution for rapidly evolving multichannel retail business apart from being the basis of online business or e-commerce and has the potential to hurtle a traditional business format into the future.
In simple terms e-commerce can be defined as software that enables use of the internet to accomplish a business transaction. With passage of time, such platforms have become complex and are now providing every type of solution for online retail trade.
What are the types of e-commerce and how do they contribute to global trade?
The purpose of the study is to understand the way e-commerce is conducted in the real world. The advantages that the new form of business brings to the small trader as well as the giant corporate would be discussed in this paper. The purpose of the study is to view the way the business is conducted in the modern world and to obtain an indication of the future trends of e-commerce. Another aspect of the study would be to see the impact this form of business has had on the consumers. Also the study would deal with the usefulness of e-commerce in the four business formats of B2B, B2C, C2C and C2B. The study would also deal with the issues of insecurity in financial transaction in e-commerce and over the internet and their possible solutions (ZappalaÌ€ & Gray, 2006). The aspect of national and international trade laws and regulations and internet legalities associated with e-commerce would be discussed. The method of study would be limited to the use of secondary sources and qualitative data collection form published literature and research papers available in the public domain on the issue. Extensive data would be created to understand the dynamics of the present day e-commerce system, its application and its impact on global business.
The research would be done according to the following steps. The research would begin with a background study of the issues (‘Schwerpunktausgabe „E-Commerce/M-Commerce/T-Commerce“’, 2003). It would be followed by the research aims and objectives and the research hypothesis and research questions. A literature review on the subject would be done. Date would be collected from secondary sources from the published work and research work on this subject that is available in the public domain. The methodology of the research work would be clearly defined. Analysis of the data collected would be presented and a conclusion about the research work would be done for the purpose.
In order to determine and analyze the underline impact of e-commerce on global business the study would seek answers to the following questions.
What are the general impacts of internet on international business and entrepreneurship?
What are the benefits of E-commerce in international business?
What are the problems and legal issues of international E-commerce?
What are the managerial implications for international online marketers on business strategies?
What are the future trends of e-commerce?
The research would deal with the impact of e-commerce on global trade and business and the impact it has on customers. It would also deal with the security and legal aspects of e-commerce and. The research would try and fill the knowledge gap that the subject still has giving scope for future research (Rosenberg, 2004).
The research questions, the research hypothesis and the aims of the research would be clear and would be stated very clearly as below.
The research questions would be
How is e-commerce important to global trade?
What role e-commerce plays in the life of consumers and the advantages it gives them?
What are the security and legal concerns associated with e-commerce?
What are the advantages and benefits of e-commerce for consumers?
What are the future trends in global e-commerce?
The aim of the research is to understand the role of e-commerce in global trade and to identify the advantages and threats associated with it.
Hypothesis of the Research
H1- e-commerce has a big impact on global trade
H2- e-commerce is advantageous to consumers
H3-e-commerce is not 100 percent safe
The research would include data collected from various secondary sources that are current and would deal with the subject in the present context (Rajput, 2000). The literature that would be used for the study would be balanced and unbiased as far as possible and the selection of literature would be made on the strong basis of relevance and significant. The literature related to the subject of e-commerce would be as balanced as possible that presents both the sides of the coin-the advantages of e-commerce as well as its shortcomings.
The literature that would be used for this study would be from multidisciplinary sources and such review of literature would be done in an extensive manner providing as many sources of information as possible (Hedley & Aplin, 2008). The study would ensure that the literature that is used for the purpose serves the purpose accurately and is directly linked to the subject and the topic of the proposed research.
The methodology that would be used in this research would be clearly indentified and a clear cut research design would be created which would be justified and would serve the purpose of the research (Laudon & Traver, 2002). The research methodology would identify the strengths and weaknesses of the sources and the data collected and the methodology itself which would be clearly stated and acknowledged.
The research would follow the purpose of research with the intended population targeted and accurate sampling methods used. The selection criteria would be predefined and the data analysis tools and process would be used as is applicable for the research. The reasons for choosing the tools and the samples would be clearly defined and enumerated. The variables in data collection and the collection methods would be accounted for and adequately addressed. The threats to reliability and validity of data collection, sources and analysis would be would be identified and enumerated to arrive at an objective result (Gouge, 2003).
The study would attempt to fill the gap in knowledge about e-commerce and try and identify and bring out new knowledge about the subject. It would also provide some indications for forwarding the research on the same subject.
The research would be conducted after drawing out a clear time line and accurate planning. The research would use appropriate tools for any statistical data analysis if required and will follow the path of logical progression of ideas at the paragraph and whole paper levels. The research would have a brief conclusion of the findings and would also include the reasons for the importance of the research work (Gasson, 2003).
Tasks and time scale:
All ethical considerations would be followed and considered as is applicable to research work including recruitment of participants, privacy issues, benefit or harm to participants and the appropriate use of data (Agarwal, 2008). The OHS considerations and procedures would be addressed within the research project itself.
Agarwal, A. (2008). Impact of front-end usability guidelines on evaluations of E-commerce web pages. SaarbruÌˆcken, Germany: VDM, Verlag Dr. MuÌˆller.
Gasson, S. (2003). The impact of e-commerce technology on the air travel industry. Hershey, PA: Idea Group Pub.
Gouge, I. (2003). E-management. London: Springer.
Hedley, S., & Aplin, T. (2008). Blackstone’s statutes on IT and e-commerce. Oxford: Oxford University Press.
Laudon, K., & Traver, C. (2002). E-commerce. Boston: Addison Wesley.
Lee, I. Trends in e-business, e-services, and e-commerce.
Rajput, W. (2000). E-Commerce systems architecture and applications. Boston, Mass.: Artech House.
Rosenberg, R. (2004). The social impact of computers. Amsterdam: Elsevier Academic Press.
Schwerpunktausgabe „E-Commerce/M-Commerce/T-Commerce“. (2003). Der Markt, 42(2), 103-103. doi:10.1007/bf03032240
Schwerpunktausgabe „E-Commerce/M-Commerce/T-Commerce“. (2003). Der Markt, 42(1), 64-64. doi:10.1007/bf03032235
ZappalaÌ€, S., & Gray, C. (2006). Impact of e-commerce on consumers and small firms. Aldershot, England: Ashgate.