In addition, there is greater demand by final consumers for fast order fulfillment and the ability to track an order as it is being processed and delivered. Although the dot-com collapse in 2000 led to unfortunate results and many of ecommerce companies disappeared, the “brick and mortar” retailers recognized the advantages of electronic commerce and began to add such capabilities to their web sites (e.g., after the online grocery store Webvan came to ruin, two supermarket chains, Albertsons and Safeway, began to use ecommerce to enable their customers to buy groceries online). But companies should recognize several other key challenges when eyeing international expansion opportunities. The buying and selling of products, framework. The Canadian e- Commerce site Wasabi even encourages buyers to submit any offers that they find through social and economic incentives. By the end of 2001, the largest form of ecommerce, Business-to- Business (B2B) model, had around $700 billion in transactions. Forums like YouTube and MySpace underscore how content created by consumers has become a viable and valuable part of the promotional and sales cycle for retailers. The site then provides a connection between the seller and buyer to complete the transaction. e-Commerce, Security, Threats and Vulnerabilities, SQL Injection, DDoS, SSL, Firewall, Session Hijack, Viruses. These sites are usually some form of an auction site. We will discuss here some of the popular protocols used over the internet to ensure secured online transactions. Though it took some time for this to be accepted by the end-users, today we are at a point where the majority of the people love to shop online. 5. According to statistics, the most popular categories of products sold in the World Wide Web are music, books, computers, office supplies and other consumer electronics. While some E-Tailers are frightened by the perceived loss of control over content being published, these new avenues of data acquisition greatly increase the richness and diversity of information available, ultimately helping the buyer make better decisions. Unauthorized access to sensitive information: Hackers can obtain intellectual property and alter it, destroy it, or steal it to sell to a competitor. e- Commerce environments consist of front-end web pages, back-end databases, web servers, and internal network infrastructure. Managing your own inventory will provide you with a high level of control, but you will tie up your cash in inventory, warehouse space, and your own fulfillment staff. 7. History of ecommerce is unthinkable without Amazon and E-bay which were among the first Internet companies to allow electronic transactions. Integration is nothing new, but what is new is how dynamically these integrations need to be initiated, modified, and used. The lack of ecommerce security knowledge against frauds contributed $2.9 billion in losses during 2014 alone and by 2018, the RSA estimated that ecommerce security breaches will double and fraud-related losses will reach up to $6.4 billion, which makes taking the necessary preventive measures an utmost priority in order to keep your business safe. On the administration side, you need a leadership team and provide direction to them. Here you interact with the seller (Amazon), exchange data in form of pictures, text, address for delivery etc. These are: Secrecy; Accuracy; Availability; Secrecy:-A secret system must not allow information to be disclosed to anyone who is not authorized to access it. Electronic commerce strategies are of primary value in markets where information is of significant added value to the products being brought, rather than in commodity markets. As such, e-business and e-commerce impact on many areas of business and disciplines of business management studies: Issues of online advertising, marketing strategies, consumer’s behavior and cultures. The consumer lists items for sale with a commercial auction site. E-COMMERCE AND CYBER CRIME: New Strategies for Managing the Risks of Exploitation “Now that most transactions and exchanges have become electronic, you really don’t need to be an expert to predict that this will become, or already is, a crime generator. Essay on the Key Elements Supporting E-Commerce: Here are seven important infrastructure decisions that ecommerce businesses face: Of all the infrastructure elements, marketing may be the most important. Another key decision is whether you will manage your own inventory or outsource those activities to a fulfillment house or through drop shipping arrangements with your suppliers. In 1995, Utah became the first jurisdiction in the world to enact an electronic signature law. Determine the scope of e-commerce crime and security challenges. Catalog retailing, which evolved over a century ago, grew rapidly in its early stages (similar to e-tailing), and it was assumed to become a very important part of the overall retailing environment and market. It should not be intercepted during the transmission. The original name of the company was Cadabra.com, but shortly after it become popular in the Internet Bezos decided to rename his business “Amazon” after the world’s most voluminous river. Product placement- E-tailers can change the product placement (user display) based on previous transactions, to increase the visibility of goods that the user is more likely to purchase based on their close relationship with previous purchases. The hypertext nature of the medium allows for more flexible forms of transactions—the growth of C2B and C2C highlights this point. Electronic commerce will cause changes in the mix of skills required, driving demand for information technology professionals. In many cases, you can host your business out of a home office and your basement or garage. By expanding the scope of two factor usage, we improve the security of e-commerce, without having to use a public key infrastructure. The various principles of e-commerce are as follows: 1. Describe how technology helps secure Internet communications channels, and protect networks, servers, and clients. 3. Therefore, different user behaviors and patterns (navigation schemes) need to be observed for each online store. Encryption − It is a very effective and practical way to safeguard the data being transmitted over the network. Lacey is founder and honorary member of the Jericho Forum, an organization pushing for innovation in e-commerce security. Issues of on-line recruiting, home working and ‘intra- pruners’ working on a project by project basis replacing permanent employees. The largest business-to-consumer e-commerce involves intangible product that can be delivered directly to the consumer’s computer cover the network is composed of five broad categories-entertainment, travel newspaper/magazines, financial services, and e-mail. This allows them to maintain a focus on growing their businesses, instead of paying an internal accountant or doing that work you as the business owner. Ecommerce web hosting is gaining swift popularity with every passing day as more and more people use the internet to shop and purchase things. Also, ensure the customer support is available 24/7 via live chat, email and phone to assist clients in solving issues. On another plane, developing countries are given increased access to the global marketplace, where they compete with and complement the more developed economies. There are pros and cons to any approach. It is the most commonly used protocol and is widely used across the industry. Outline the concerns as the company conducts business … Selling was conducted in typical well-insulated “channels.” Consumers were viewed to be trapped by geographical and social boundaries, unable to search widely for the alternatives with best price and quality. In 2000 a great number of business companies in the United States and Western Europe represented their services in the World Wide Web. Indeed, nearly 60% of global consumers spend more time on sites in their own language than they do in English—or boycott English-language websites altogether. Web based Enterprise Resource Planning systems (ERP) can also be used to forward orders directly to designers and/or production floor within seconds, thus cutting production cycle times by up to 50 per cent, especially when manufacturing plants, engineers and designers are located in different countries. Use of this feed is for personal non-commercial use only. In your role as a security professional in XYZ company, you have been asked to present a PowerPoint presentation to address cybersecurity challenges the company may face as it plans to expand into global sales. Many ecommerce companies use outside services for vendor payments, payroll, and other basic accounting activities. E-Commerce 2.0 is about collecting and managing data from all online channels to enable better business decisions. SSL security certificate; In order to overcome this e-commerce challenge, many sites opt for SSL security certificate to showcase their security. To succeed, your website must be found. It supports the process for merchant's certificate request. Understand the scope of e-commerce crime and security problems, the key dimensions of e-commerce security, and the tension between security and other values. Theoretically, Business to Business Electronic Commerce : Inter-organisational transactions, Electronic markets, Electronic data interchange (EDI), EDI: the nuts and bolts, EDI and … It has the following components −. Recruiting, setting up compensation, maintaining compliance and other HR activities are specialized and time consuming. In 2008 Amazon penetrated into the cinema and is currently sponsoring the film “The Stolen Child” with 20th Century Fox. The first use of electronic commerce is to provide product information through online electronic brochures and buying guides. The name of the game is strategic positioning, the ability of a company to determine emerging opportunities and utilize the necessary human capital skills to make the most of these opportunities through an e-business strategy that is simple, workable and practicable within the context of a global information milieu and new economic environment. 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