An E-business plan and an E-commerce site
You are required to write an e-business plan for an e-commerce site and specify the necessary system requirements to develop it.
A business starts with a good idea that answers the needs of a certain e-market segment. Once you find a good idea, you need to develop your e-business a model. A business model is the method of doing business by which a company can sustain itself, that is, to generate revenue. Business models can take a number of different shapes. One of the simplest and most popular models is the virtual merchant model1 or e-tailer which is a retail merchant that operates solely over the web. A company buys a good and sells it to customers. If all goes well, the revenues from sales exceed the cost of operation and the company realizes a profit. You are not limited to the virtual merchant model.
To make sure that revenues from sales exceed the cost of operations, you are expected to thoroughly analyze your future business. Online research about your potential suppliers, buyers, competition, substitute to your product or service, and potential threat from new entries can help. You need to do a thorough analysis of the five forces. Indications of what to investigate are listed in Appendix A. Do your research (google is ok) to learn more about the indicators that can help you evaluate the attractiveness of your business. If you find potential in your future business, you work on improving its chance of success. If you don’t find potential, then you look for another idea and start again. To improve the chance of success,
(1) make sure you select the correct strategy, (2) argue why it’s the correct strategy,
1 For a complete description of business models see http://digitalenterprise.org/models/models.html. You can choose forms of business models other than the virtual merchant.and (3) determine how you will achieve it. Analyze your market, forecast sales, and measure revenue. Even though forecasts are never correct, it is recommended that you statistically evaluate your future revenue. When you analyze the market, it is a good idea to investigate the potential buyers. You can create a survey and collect data from your friends to measure the likelihood that your product or service will sell. This will be helpful when you determine the breakeven point.
Office and Storage Requirements
Now that you have made up your mind about the business you intend to start, start thinking of your physical space requirements (which can be part of your fixed costs). You need to assess whether an office is necessary or a warehouse required. What resources do you need? What are the operational costs? Do you still expect to profit?
Information Systems’ Requirements
It’s time to design your e-commerce website. For this, you need to identify the website’s requirements. You can research e-commerce site online to get inspired. At the minimum, an e-commerce site provides the customer the functionality to search and view description of products or services and another functionality to order and pay for the products or services. Things to consider include the e-payment methods you will use with your customers, the type of security measurements you will implement, and the steps you must take to make your website functional and accessible. Typically, to develop a website can cost between 50,000 QAR and 300,000 QAR depending on the quality of the website and the number of functionalities it has.
During the information systems requirement determination step, you are required to define at least the five most important functionalities (e.g.: Search for product, create customer account, order product, pay, ask for help…). It is preferable that you design the interface that demonstrates how these functionalities. You are also expected to design your relational database and create your tables and relationships (see chapter 3 for details on database structure).
Questions that you need to continue to ask yourself are: Do you still expect to make profit? What is your break-even point? What other technologies, other than your e-commerce site, can help you reduce cost, increase revenue, or both?
Market your e-Commerce Website
It’s time to plan the appropriate marketing mix and social media tools (online and offline) to market your product/service. How will your customers learn about you?
Pick a good name
Your last step is to find the name that best suits your business. Make sure that the name is available.
Report: The completed report should be approximately 10 pages in length single spaced. Use 11 point Times New Roman font and one-inch margins. Do not prepare a separate cover page, instead put your group member names, the class section number, and the assignment name in the top-left corner of the first page header. Number all pages. The key to a successful report is that enough detail is provided to convincingly explain what the proposed solution is, how it will generate value for an organization, and what steps the organization needs to take to realize that value.
Group Project Presentation: The PowerPoint presentation should follow the same structure. It should not exceed 10 minutes (maximum 8 slides) to allow 5 minutes for Questions and Answers. Every student must present. The rubric I will use to evaluate your presentation is on blackboard. The format of the presentation should use bullets, graphics, and abbreviated points to enable an effective presentation in class. Your presentations will be evaluated based on six criteria: Organization, Eye Contact, Delivery, Conclusion, Responsiveness, and Multimedia Support and Visual Aids. See the accompanying Rubric for more information about the evaluation of the presentation.
- Fifteen points are given to the written report. Make sure your report is properly formatted and free of grammatical and other types of mistakes. Points are given to the report’s esthetic and quality of writing, and for the proper use of visuals (charts, graphs, tables, etc.). For details on the way the project is evaluated, refer to the evaluation grid on blackboard.
- Both written report and the PowerPoint presentation should replace text with charts, tables, figures, and other visuals whenever it is necessary.
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- Submitted On 19 Dec, 2014 09:43:43