E-markets are places where willing sellers and buyers transact through electronic without meeting face to face or through agents. This market is used by many institutions in facilitating sell and purchase of goods, exchange of money, facilitating payments for any transactions relating to the market, and the flow of information.
We will write a custom Essay on How E-Markets Are Redefining Organization specifically for you
807 certified writers online
E-market has redefined business in many ways. With the introduction of the internet, intranet, and websites many business functions have been redefined. Companies can improve manufacturing processes. Through internet customer put an order of good or services he wants and the organization starts the process of producing or offering the service. This real-time demand-driven processing saves the organization the trouble of manufacturing some products which may in store for some time thus saving the issue of storage. The production of any product also begins at the time the customer pays. This has also helped the organization to reduce the balances of debtors.
The finance and accounts departments of companies with electronic superstores have been redefined. Most of their payments are made electronically requiring the department to use a special system to be able to trace the movement of transactions up to the time of payments. The organization has been forced to retrain the finance and accounts staff.
Human Resource has also been redefined through the way the Management and Training programs are run. E-markets have changed the recruitment is carried out and where the recruited is working from. The issues of performance appraisal, promotions, and demotion can be affected electronically. The availability of internet search engines, intranets, and extranets has changed training and development in the department. The training material is easily available thus reducing the cost of training. A company can hire some who is based in a broad to work without physical movement to the site where.
Most other business has opened superstores operated through their websites. This has enhanced businesses through internet marketing and electronic retailing. Electronic marketing and retailing have improved product selection and experience. Availability of internet services has increased strategic alliances with various agencies and operating foreign branches and controlling them from a central point.
Amazon publishing (www.amazon.com) and Apple incorporated (www.apple.com) are classic examples of companies using E-markets that have expanded operations. This has enabled them to expand from selling their product and services into other products for other companies allowing strategic positioning in the business world and increasing product selection. In browsing the website of these two companies, one finds it easy to search for an item and make an order. The product information is easily available and payment mode is provided.
Shopping at Amazon publishing will be an exciting experience because the company superstore has a shopping aid where repeat customers need not enter their shipping details. (www.Amazon.com).
Although e-market has redefined organization and how business is operated new problems have emerged. Therefore management should plan and implement an e-market at the right time. Some of the issues the management has to cope with include issues like profitability of the venture, cost associated with the implementation, and website risk management.
In a nutshell, the e-market has improved businesses and eliminated some of the costs. Intermediaries have been eliminated and new ones are emerging. Finance and accounts departments are changing by introducing new systems. Management of organizations has been decentralized as in the case of Nokia where one of the staff is based in the USA while the company headquarters are in Sweden. Unlike traditional trading, e-commerce has unique characteristics which include products of high brand recognition, items that are frequently purchased, and reliable vendors.
King, lee, Viehland, electronic commerce, 4th edition.
Kissinger, S. Borchardt; Information Technology For Integrated Health Systems, J. Wiley, 1996.
G. David Garson ; Information Technology and Computer Applications in Public Administration; Idea Group Inc, 1999.
Get your first paper with 15% OFF
Lubbe, J. Maria ; The Economic and Social Impacts of E-Commerce; Idea Group Inc.
Khosrowpour; Challenges of Information Technology Management in the 21st Century; Idea Group Inc 2000.
Tull; Web Designer’s Guide to Adobe photoshop; Word ware pub,2006.
Mariga, Managing E- Commerce and Mobile Computing; Idea group Inc, 2003.
Johnson; Web Bloopers; Morgan Kaufman; Springer, 2000.
Bauknecht, Tjoa; E- Commerce and Web Technologies, Springer 2002.
Dasgupta; Managing Internet and Intranet Technologies in Organisations; Idea Group; 2001.
Rosenfeld, Morville; Information Architecture For the World Wide Web; O’ Reilly, 2002.