Analysis of the Trend of Electronic Commerce

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Analysis of the Trend of Electronic Commerce

Outline

This paper is an integration of the entire weeks activities. The paper briefly analyses the activities done in the week. Two topics were discussed in the week, namely the future trends of e-commerce and how to make an online business successful. And also the paper explains how these discussions helped me in my personal as well as professional life.

Integration Paper

In this week two related topics on e-commerce have been discussed. The first topic was the future trends of e-commerce. What will be the market place of e-commerce in the next year, five years from now and ten years from now are discussed in the first topic which helped me to have a clear cut idea about the future of e-commerce. And also the expected changes in the e-commerce field as part of the development of the technology have been discussed in the week. By the discussion I understood that the there will be a drastic reduction in the cost and the time involved in the e-commerce transactions thereby revenue will be increased. In the foreseeable future e-commerce will further confirm itself a major tool of sale. Successful e-commerce will become a notion absolutely inseparable from the web, because e-shopping is becoming more and more popular and natural. (Future of E commerce 2004).

In future, e-commerce will be able to provide a better business facility than today. I think that there will be new inventions and innovations in the e-commerce in the coming years. Another thing that I believe is that the mobile internet banking will gain more popularity in future. Mobiles can also be used as an advertising tool as it is more user-friendly device. It is clear that the number of people, who are accessing internet through mobile phones, has increased. (Mobile internet marketing needs to be less annoying 2008).

From the analysis of different studies I realize that the people are more attracted to e-commerce and also the e-commerce sales are showing an increasing trend. This trend is expected to continue in future also. Another thing that I learned is that, one of the main reasons behind the increasing trend of e-commerce sales is the world has become faster. That means people are busier and they will not be having enough spare time for shopping in the traditional way. Therefore they will go for online shopping which saves time. (Future trends of E Commerce 2007).

From the discussion, I understood that only a few people have the opinion that there will be a fall in the usage of e-commerce. Majority, including me, believe that when years go there will be a tremendous change in the e-commerce system including more sophisticated and user-friendly interface system which facilitate the customers to customize the product specifications. This discussion helped me a lot in framing out an idea about the trend of e-commerce which I think will be useful in my personal as well as professional life.

The second topic of the week was making an online business successful. The weeks activities helped me to have a good idea of development and application of an e-commerce solution. This I think will help me in future professional life as well as personal life. Because I believe that, in future majority of the business will be conducted with the help and support of e-commerce. I realized that development of e-commerce is not an easy task and requires the efforts of number of technically well qualified people. Developing successful e-commerce systems requires combining a unique set of computer science and business development skills. (Carter 2009).

Instead of purchasing an e-commerce system it is better to make own system, by assembling the available tools, as it will be flexible enough to change as and when required. Several vendors offer tools that help you build a custom online store. Companies such as Microsoft and Macromedia offer e-commerce toolkits that provide the technology and the development tools for building an e-commerce site. (How to choose the right E Commerce system 2009).

The weeks lessons helped me to deeply understand the security issues that may arise in different stages of development, implementation and also while using the system. I have clearly understood that there is no compromise for the security issues. Because the survival and growth of the system depends largely on the security system adopted by the organization for protecting the e-commerce website. The hackers are always waiting for a chance to hack the e-commerce systems of different companies. All these information will be useful in my future life as I can take decision keeping in mind all these things. While developing an e-commerce system one thing that should be ensured is that, there is a proper mechanism to protect the system from viruses, spy ware, hackers, fraud&etc. (E Commerce security issues 2002).

Also the weeks discussions and activities helped me in understanding the payment issues and solutions and how to make the payment system more flexible, marketing related issues including the problems in marketing the e-commerce and solutions to overcome these problems. Finally I got good idea about the ethical and legal issues that may arise during the course of development and implementation of the system and how to deal with these issues effectively. I am sure that the weeks learning can contribute in my personal as well as professional life.

I was present in the class on all the six days of the week. The weeks class gave me a great experience and learning opportunity which I will be able to use more effectively in my professional as well as personal life. I have submitted all the assignments of the week on time.

References

Carter, Jim, A 2009, Developing E Commerce systems: from the back cover, Amazon.com,Web.

E Commerce security issues 2002, ECD, Web.

Future of E Commerce 2004, Commerce Land, Web.

Future trends of E Commerce 2007, E Commerce Blog, Web.

How to choose the right E Commerce system 2009, All Business: A D & B Company, Web.

Mobile internet marketing needs to be less annoying 2008, Business Feet, 2009. Web.

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