ICT in business

ICT in various business functions.

1) Accounting 2) Human resource 3) Production 4) Marketing and sales 5) Supply chain management 6) Business communication

Marketing & sales with IT

1) E- marketing 2) Social commerce 3) Data warehouse and mining

E-marketplace has two ends,what are they?

1) Front end 2) Back end

What are the types of business models?

1) Pure brick (brick & mortar) 2) Brick and click (click and mortar) 3) Pure brick

What are the new business methods in digital economy?

1) Reverse auctions 2) Group purchasing 3) E- marketplace

E- business

1) Shipping 2) Marketing 3) Global trading 4) Drop shipping

Accounting & IT

Accounting software packages to help produce statutory accounts and reports for bankers and management, as well as to help with the day to day controls and it's finances. Eg; Fresh books, quick books

Digital economy

An economy that is based on digital technologies, including digital communication networks, computers, software, and other related information technologies; also called the Internet economy, the new economy, or the Web economy. Eg; Ariba, hedgehog, sorcity, dubli.

Benefits and drawbacks of DE

Benefits 1) Reduces the cost of the products. 2) Saves time for both parties. 3) Sellers are required to disclose their prices to each other. 4) May have multiple rounds of bidding. Drawbacks 1) Lowest bid may not have the best product. 2) Goods may not be at the expected quality.

Brick and click (click and mortar)

Business model by which a company integrates both offline and online presences.

Pure brick (brick & mortar)

Business model by which a company runs the business only in offline mode.

Types of e-business transactions

Business to business (B2B) Business to consumer (B2C) Consumer to consumer (C2C) Consumer to business (C2B) Business to employee (B2E) Government to citizen (G2C)

E-commerce

Buying and selling using an electronica medium. 1) Accepting credit and payments over the net. 2) Banking transactions using the Internet. 3) Selling commodities or information using the World Wide Web.

Pure brick

Companies with a virtual presence or present on the internet only. Eg; Shopify, ebay, amazon

Human resource & IT

Focuses on recruitment, training, and creating a healthy environment for staff in order to archive organizational goals . Eg; Breezy

What are the needed features for front end and back end?

Front end 1) Sellers portal 2) E-catalog 3) Shopping cart 4) Search engine 5) Payment gateway Back end 1) Inventory management 2) Purchases from supplier 3) Payment processing 4) Packaging 5) Delivery

Business communication & IT

Gives companies the resources it needs to communicate quickly and effectively. Eg; Zoom, basecamp, jostle

Group purchasing

Multiple buyers combine their orders so that they constitute a large volume and therefore attract more seller attention. Eg; Groupon, drop

Business to business (B2B)

Purchases and sales between two companies is called B2B. Industry consortia products purchased for the use of the business makes the end user an industrial user. E-distributor E-procurement Exchanges

Reverse auction

Reverses the role of seller and buyer which means instead of buyers,sellers bid prices for items.

Supply chain management

The process of effectively managing the components of an extended value chain from suppliers, through manufacturing and distribution chain to the end consumer.

Production & IT

Uses machines and robots for manufacturing

E-marketplace

Where buyers and sellers meet virtually. Eg; Amazon, ebay, daraz, ali express