...Commerce. It is a business that based on the internet concept in the terms of buying and selling products or services. E-Commerce is a non-cash payment system, it uses credit cards, debit cards, cash cards, electronic fund transfer via bank’s websites or other ways of electronic payment. E-commerce is not only a term of shopping online (Web shopping), but also encompasses many more business activities. E-commerce is a new way of conducting business, using any of the new application of technology. It makes business people to conduct their business globally and 24hours/7days. People can order and make payment on anytime and at anyway. This also improves the sales for the business organizations. Although e-commerce is popular for online shopping recently, but electronic commerce has existed for many years as banks have been using electronic funds transfer (EFT) for decades. A market is a place of interactions and relationships where products, information, payment, and services are exchanged. It handles all transactions that needed. E-Commerce bazaars let traders and buyers meet electronically. Main Essay E-commerce business model Electronic Commerce business model can be categorized into three major ideals. There are: B2B, B2C, and C2C. (i) B2B Business-to-Business e-Commerce Participants are the organizations. This is a business transaction between businesses. Using B2B business concept, website sells their product to a wholesaler or business organization; they...
Words: 1327 - Pages: 6
...Business Systems Whitley defines business systems as: ‘Distinctive ways of organizing economic activities that develop interdependently with dominant institutions in market economies. As the title of the article already mentions, it is about business systems. The author, Richard Whitley, divided the article over three parts and talks about the nature of business systems, the characteristics of business systems and the institutional influences on business systems. We will try to critically review this article using additional literature. We will try to identify the main points of the author and not summarize the article, and give arguments of whether it is useful for the fact book or not. Nature of business systems. The first part of Whitley’s theory is about the nature of business systems. He theorizes that business systems are patterns of economic organization that become institutionalized depending on the market economy( Whitley 1997). The nature of the business system depends on the institutions in the society of the business system. When institutions mutually strengthen each other, the business systems are better incorporated in the society. This might be of interest for the fact book, because it can be important for the investors. The state has a significant impact on the market economy, this part of the theory focuses on the degree of institutionalism. In our country comparison it might be of importance to look at this subject. Investors will probably agree that a...
Words: 1439 - Pages: 6
...In order to maintain all of the companies success, Riordan Manufacturing has put in place multiple business systems that will allow their company to periodically improve their efficiency and effectiveness within their operations. Innovative business systems such as the ones currently in place in the human resources and legal departments are the primary reason why the business has remained successful for so many years. These departments are an important part of Riordan’s operations and contribute to the company’s overall ability to its production methods. Our analysis of these departmental systems and sub-systems will show those areas that are working in a positive matter and the areas that are in need of some process improvement and will discuss the risks and positives associated with them. Riordan’s current management team is made up of several key support system areas with the primary responsibility of gathering data for company day to day functions. These key support systems are as follows: accounting, receiving clerk, area supervisor, inventory clerk and lastly sales department. Receiving area supervisors make individual comparisons using each one of the daily reports after they have been passed to the related department each week. The reports are then organized by date for any raw materials delivered by the receiving clerk in charge of receiving. Then they become an inventory tool that is used to compare all incoming orders against the scheduled deliveries and their inventories...
Words: 647 - Pages: 3
...Five different IT systems that have affected business in the past few years. 1. Social Media/Business (Facebook, Twitter, Instagram) – Social Media provides a more intimate platform for advertising and promotions. Business can use software to detect trends and research patterns in order to determine what demographic to target, thus making their advertising strategy more effective. Social Media will continue to evolve just technology evolves and adjust to consumers for direct advertising efforts. 2. Cloud Computing (I-cloud/Verizon Cloud) – cloud computing affects the way that a company may store its data, software integration, and back-up and recovery. Clouds allow data storage and back and recovery in a cost efficient manner. Businesses are outsourcing data storage to third parties using cloud technology. Since cloud technology is still fairly new there are some security concerns that will be addressed and corrected overtime. 3. Consumerism – tailoring technology for specific needs through third party apps. This allows business services to available to consumers 24 hours seven days a week. Apps also provide a vehicle for advertisement on a constant basis. Apps will continue to improve in their efficiency and ability to provide service to consumers outside of normal business hours. 4. Mobile Devices (Smartphones/Tablets) – allows users and employees unrestricted access and to business systems. Allows employees to check and send email from anywhere and browse the internet...
Words: 347 - Pages: 2
...Business and Models System Carmen Arellano BUS/210 Foundations of Business 11-09-2012 Judd Shaffer A local business that I frequently use is Target. I shop at target once or twice a week to either get things I need for my household and I also do some of my grocery shopping there as well. Their locations are a big plus, they are just about everywhere and it makes it very easy as consumer to shop at Target to get necessities from shampoo and light bulbs to food and medication. The main components of this business are business commerce, business occupation, and business organization. These three components make Target what is today. Business as commerce will indicate how Target trades their goods and services and supply the chain of consumers. They offer the trade of goods and services such as 5% back of money spent, and also a one stop shopping experience, you can pick up your medication as you shop for your necessities. They also offer a café and a small eatery location within the store. Business occupation is the acquired set of specialized skills and abilities that enable a person to create valuable goods and service that can be traded at a profit. Target has mission statement was to design their business for all, offer great customer service to all their customers. Offer great products and prices and give more for your money. Target is making their shopping destinations in all channels by delivering outstanding value, applying their skills in continuous innovation...
Words: 380 - Pages: 2
...Business Models and Systems BUS 210 Caren Evans Ms. Lockhart October 27, 2013 As with any business, there are three major components of a company’s business model. These components are business as commerce, business as occupation, and business as organization. A local company whose services I frequently use is Dollar General. The business as commerce aspect of Dollar General’s business model is mostly focused on trade. In trade, it is the exchange of products using money (Jones, 2007). Since Dollar General is a retail chain, a vast majority of its profits in commerce is due to trading with consumers by offering products that fulfill consumers needs. In the second component, business as occupation, Dollar General does very well. In business as occupation, there are two key factors; specialization and business occupation. Specialization is the process in which people become experts in a narrow field, such as the employees of Dollar General. When handling particular products over a period of time, employees can and do become experts on those products and in turn improve the services offered. Dollar General employees are excellent examples of satisfactory customer service. With business occupation, however, it involves an acquired set of skills or abilities that can be traded or exchanged for profit. This simply means that once a person is trained for a particular task(s), he or she can create and improve the skill set that is necessary to perform the functions of the occupation...
Words: 388 - Pages: 2
...Business Models and Systems The business I like to visit when I usually pick up my girlfriend from work is a restaurant between the corners on the street. It is close by a small neighborhood and an elementary school, which this is known to be a small local business. This business mainly deals food in different variety of meals that consists of breakfast, lunch and also dinner. It operates in a set schedule every day for normal business hours. In the Business in Commerce they buy products like meats and chickens and certain different ingredients to resell it as cooked product, also known as a restaurant. They build a reputation upon good cooked meals. In the Business of Organization it is a family owned business that is operated by trusted friends and family. They have secret recipes and also ingredients that they use that make customers come forward for more. I am aware that they buy their food through warehouse prices cheaper, thus building a better revenue. Making sure that they are keeping this consistent to ensure the upkeep cost will allow them to keep the same reduced prices but a profitable gain. When there is marketing, it is when they show the picture of the food that you are interested in. With Business as an Occupation they ensure that their cooks will maintain the exact meals consistently with the ingredients for consumer to know and familiarize with the taste. They must ensure that their meals are always exactly the way as the description and also create it...
Words: 335 - Pages: 2
...Learning Unit 1: Introduction to Entrepreneurship Define and compare entrepreneurship and intrapreneurship. Entrepreneurship: Entrepreneurship is the process of conceptualising, organising, launching and — through innovation — nurturing a business opportunity into a potentially high growth venture in a complex, unstable environment. Entrepreneur: Entrepreneurs are those individuals who discover market needs and launch new firms to meet those needs. They are risk takers who provide an impetus for change, innovation and progress in economic life. Intrapreneurship: Intrapreneurship is the form of entrepreneurship which takes place in existing businesses around new products, services or markets. Intrapreneur: Intrapreneurs are innovative employees who either rejuvenate existing organisations or create new ventures within a corporate structure. Intrapreneurs are also referred to as internal or corporate entrepreneurs. Discuss the entrepreneurial motivation. Push Factors: Poor remuneration Lack of Job advancement Restrictive employers Potential restructuring and / or retrenchment Inability to secure a job Lack of innovation in the current workplace Pull Factors The motivation of profit The need for a challenge and self actualisation The desire for independence The desire to improve one’s community Describe the profile of an entrepreneur. Prominent among the character traits of successful entrepreneurs have the following traits: * * The ability...
Words: 13386 - Pages: 54
...Overview Infosys Improves competitiveness and cuts Total cost of ownership (TCO) with Microsoft Solution for SAP System. Infosys set up a Windows cluster across two of its data centers, consolidating its hardware from 30 nodes to two four-node clusters. It deployed two new SAP modules—for a total of 15—and upgraded to Windows Server 2008 R2 Enterprise and SQL Server 2008 R2 Enterprise. The software was deployed on HP ProLiant DL785 and HP ProLiant BL680 server computers. 1. What is the significance of this development? The significance of this development is that this innovative development will help infosys to upgrade its infrastructure and reduce its hardware and maintenance costs. It will also help Infosys to cope the competitive pressure and solve the problem of aging software and become more efficient.Moreover, Infosys gained a solution with a low total cost of ownership (TCO), without sacrificing the high availability or performance of its SAP system. Furthermore, the development will enhance the ability of infosys to compete. In other words, it can also be said that the company can use its newly developed applications more efficiently at less cost and that too without sacrificing its performance or availability. 2. Who will benefit from this development? The company as well as the users both will benefit from this development.The company will benefit as the development will result in attaining improved competitiveness. Furthermore, Infosys has gained a solution that...
Words: 348 - Pages: 2
...Business Models and Systems • Consider a local business whose services you frequently use. What are the main components of this company's business model? I work as a salesman for a local restoration company, American Restoration, in Indianapolis. Our main source of new business is generated by the cruelty of Mother Nature. We generate new business when the weather unleashes havoc on local residents. Our process starts when hail wind, tornadoes, floods, and fire affect an area or specific neighborhood. This could be within the city, or even outside of the state. The salesman frequents the area to find homes and buildings that have sustained damage. We contact the insurance companies for the home or business owner to file claims on the property. We then meet with the insurance adjuster to make sure the damage is absolutely insurable. Once the roof is bought we work directly with the homeowners and business owners to get the work completed using a list of contractors we work directly with. • Write a 200- to 300-word response describing the three components of the business system that comprise the local business you selected. Use Figure 1.2 on p. 11 of Introduction to Business as a reference. Business Commerce – American Restoration uses a process of weather monitoring that allows them to monitor what Mother Nature is doling out, not only locally, but also throughout the country. This system allows the salesmen to move directly into areas that have been affected...
Words: 863 - Pages: 4
...CheckPoint: Business Models and Systems A company’s services I frequently use is Wal-Mart. One of the components of their business system is their competitive advantage. Walmart has been able to provide quality goods at a reasonable price for many years. By doing this it has allowed them to grow at a rapic rate. They have been able to take the basic products sold at high-end stores and sale them to the public at an affordable cost. Another component of their business model is their mission statement which is ("Our mission is to enhance and integrate our supplier diversity programs into all of our procurement practices and to be an advocate for minority- and women-owned businesses."). This is an important component for Wal-Mart because it gives them a plan or course of action to head towards in order to become and stay competitive. What this also does for Wal-Mart is give their suppliers a place to sell their goods and since Wal-Mart has established a name for themselves, it gives their suppliers peace of mind. A third component of Wal-Mart is to build capital. Wal-Mart has been able to do this by taking profits and putting them back into the company. They have created Wal-Mart Superstores which are one-stop-shops which ultimately draw more customers. Customers can purchase everything for their home, kitchen, garden even get their car worked on all in one location. This is a convenience for customers which ultimately prevents them from having to drive to multiple locations...
Words: 286 - Pages: 2
...AUSTON INSTITUTE OF MANAGEMENT FACULTY OF BUSINESS, ENIRONMENT & SOCIETY DIPLOMA IN BUSINESS A123KM BUSINESS INFORMATION SYSTEMS COURSEWORK 2 PROBLEM SOLVING COURSE STUDENT NAME : Ameel Ajwad STUDENT ID NUMBER : T31200694 SUPERVISOR : Mr. Inham Hassen SUBMISSION DATE : 10th January 2013 Table of Contents INTRODUCTION 3 Question. 1 4 Below are the list of services www.ups.com is providing for individuals: 4 List of services provided for Small Businesses: 7 List of services provided for Large Organisations: 10 Question 2 12 Question 3 13 Impacts on UPS if the website was not available 14 Conclusion 15 Reference; 16 Declaration Of Originality: 17 Marking Scheme 18 INTRODUCTION www.ups.com United Parcel Service, or typically known as UPS, is an American package delivery company which was formed in 1907 by Jim Casey. The main company is located in Sandy Springs, Georgia, United States. Overtime the company’s service has expanded so much that it has become the leading global supply chain management with the capability of delivering 15 million packages per day to 6.1 million customers in more than 220 countries around the world. Purchasing UPS' own airline in 1981 was a big milestone for the company which enabled them to reach more destinations and expand their services globally. Including air freight, UPS use different modes of transportation like sea, road, rail transport. And UPS has taken information technology...
Words: 5229 - Pages: 21
...Business Models, Systems and Oganizations The local business that I frequently use is Target. I love this store because it’s a one stop shop for all of my needs. I visit the store at least once a week. I can get anything from laundry detergent to groceries, clothes and even household needs. This store has the three main business components detailed below. The definition of a business as a commerce as it relates to Target is when people in business produce, exchange, barter and trade goods and services for their specific need. I believe Targets business commerce is to trade goods and services. I say this because the store has everything any consumer would want housed in one location. The definition of a business as an occupation as it relates to Target is when the business trades skill or labor. It allows an organization to provide value in their goods and services. Target there is a high level of skill set that the organization has to have. This helps with keeping great customer service at an all-time high. It also helps in creating goods and services that are valuable to consumers. Target seems to reinvest in their employees. This gives them the advantage to continue to train their employees and produce their products in mass quantities. This allows the brand to continue to grow. The definition of a business as an organization as it relates to Target is when a business uses bargaining and negotiating for goods and or services. Target is one of the most organized...
Words: 351 - Pages: 2
...1 BUSINESS MODELS Jessica Crespo Business 210/Foundations of Business July 26 2013/University of Phoenix Professor Linda Lockhart 2 BUSINESS MODELS There is a local salon that I visit frequently. I am in there either getting my pedicures or eye brows done at least once a week. Every business has a model regardless of what industry you are in. All business have models that have three main components. Those are (1) business commerce (2) business occupation and (3) business organization. Business commerce is the process where the good and services are produced. The nail technician does my pedicure and I pay her for her services and for doing such a good job would be considered business commerce. Business occupation is a skill or a service done to provide value to their customers. Nail technician is a very skilled and patient acquired job so you have to pay to get your services from a nail technician. Its not a job everyone can do so sometimes you have to go to the next person to make them look fabulous. Business organization is the last component of the business systems. This particular nail salon is very small since they only have one salon in town. I advertising in the local papers and around town. They definitely stick out when you drive by them. They also only have a few employees maybe 5 so they are very small. Since the business organization is the systems of task the relationship between the nail...
Words: 263 - Pages: 2
...1. CheckPoint: Business Models and Systems Consider a local business whose services you frequently use. What are the main components of this company's business model? Write a 200- to 300-word response describing the three components of the business system that comprise the local business you selected. Use Figure 1.2 on p. 11 of Introduction to Business as a reference. The three main components of the Centralia Recreational Center are business commerce, business occupation, and business organization. The business commerce of the Centralia Recreational Center would be that citizens of this community and citizens of the surrounding areas can pay a set amount of money periodically to become a member and have full access to all of the features of this business. Of course, the value of this is better fitness and health for the members, and quality family time spent together by exercising, swimming, or participating in certain family oriented activities. The business occupation of the Centralia Recreational Center are the swimming pools, hot tubs, basketball court, running track, weightlifting and fitness room, and some of the classes the business offers for a variety of aerobics and fitness programs for people of all ages. The Centralia Recreational Center also hosts a number of tournaments for basketball, swimming, and volleyball. In my hometown, there are several other businesses that offer similar services to their customers, but none of them have the services that the...
Words: 314 - Pages: 2
