BUS107: Fundamentals of e
ASSN 1:Starting a business online part 1
By Minh Thai
Professor: William Simonpietri
Business as of today has become more competitive and more sophisticated than ever before. Owning a small clothing line has it’s complications but taking it to an e-commerce level is a total new logic. Before going to any new business venture, an evaluation must be done correctly in a professional manner. I think it’s best to have a SWOT analysis planned out prior to starting out.
A SWOT analysis helps analyze the 4 compartments for either a business venture or project. The 4 compartments are Strengths, Weaknesses, Opportunities, and ...view middle of the document...
S. The weaknesses I would have to say is one, if the clothing store is known for their warm welcome and providing great customer services then yes it would be more difficult to show that richness of person to person interactions. Secondly to find out and keep on track how much inventory is needed and how the sales fluctuates of either having too much in stock on certain items or too much of a shortage. As for opportunities, there are several factors for using e-commerce, first is you will be able to create more networks and connections, secondly you might have people that might want to get into different business ventures with you whether it’s from a small scale to large scale whether it’s through manufacturing through distribution to wholesaling perhaps. The final compartment I would have to say about threats are unlimited and unforeseeable. Internal problems may occur for example hiring the right people to help you manage your e-commerce site in a professional manner. Another issue would be the e-commerce is out there and it’s open to lots of hacking and scam in example like just recently Target stores and corporate was recently hacked through their banking system, which was breached and was charging large sums of amounts that weren’t valid towards customers, this however has made the company look bad publicly. The breach however effected 77 million people which was a huge catastrophe. One of the last issues under threats is other competitors that may have lower pricings and different marketing tactics or perhaps have been in the e-commerce much longer that they may know the ins and outs for their businesses to better thrive.
The only way to overcome some cultural issues in international commerce is by doing different tactics and be more understanding. For example if a business is done in a muslim dominated country, I would change some of the styles that would conform to their religion and culture to show them signs of respect and courtesy. In addition I, personally would hire some native workers and translators that are familiar with the language, customs, religion and type of governments to overcome these types of issues. Honestly, it would be very difficult to understand other international e-commerce, henceforth it's best to hire an expert native as I've stated earlier. To gain trust and be accustomed to the culture, language, government and infrastructure is to sometimes go to that particular country and be more open of their views and form a comfort level, because to me business is not only about buying or selling great products, it’s about people that are buying you as to what they see what and who you represent. In a way, if I had the proper funds, I would also form a charity which will help fund the countries to help better a social, economic and fundamental ways of life for them as a...