ETrust

Trust is defined as the psychological status of willingness to depend on another person or organization. It is the single most important factor for confidence in secure information for the consumer; without trust, a business cannot profit from the consumer, and the consumer will be dissatisfied. ETrust defines what ordinary citizens both fear and desire: privacy and security. ETrust understands information needs of both consumers and businesses in key areas where consumers perceive the most risk in online transactions, which is the safety of their information. This makes the concept a valid and important one when it comes to the safety and security of all in every technological situation in which people share information. Computers have become very useful tools for communications, banking, shopping, entertainment, staying in touch with friends and family, and learning about any number of interesting topics. However, the internet has a dark side, and most people are completely unaware of the pitfalls which come with this relatively new and fascinating online world. Among the malicious intentions of those who would compromise a computer are those to gain access to personal data for identity theft, to use the computer to send spam or be used to attack other computers on the network, to use the computer to “hack” other computers as the act of juvenile mischief to wreak havoc. To help solve this security and privacy problem, online businesses have started to use information assurance as the ground stone for their online market. Information assurance is the protection of information systems against unauthorized access to or modification of information whether in storage, processing, or transit, and against the denial of service to authorized users, including those measures necessary to detect, document, and counter such threats. I think the best example of this concept is Bank of America. I use this bank to handle all of my finances, and have never felt a lack of privacy or security ever since they secured the website a few years ago. For example, the greeting on the webpage is one that assures confidentiality and company integrity. There are also are several forms of authentication that must be validated in order to proceed to the banking. These forms include a username, a “security key” that is unique to the user, and the password. These security measures improved and strengthened my eLoyalty and faith to Bank of America, and kept me a happy and confident customer in their business. But, eTrust can both strengthen and weaken bonds between businesses. For example, a company with a more secure website has an advantage over an inadequate secured one. There is always a front-runner, and there will always be competition to have the most appealing system of security and privacy. This is an advantage for the front-runner, and a disadvantage for the sub-par site, unless they innovate and create an advantage over the front-runner. I think it is easy to manipulate eTrust to a certain degree. For example, certain malware and scareware can trick users into thinking that they need the product to clean up their computer and protect it from viruses, when it is the virus in itself. On the other hand, believable eTrust, in my opinion, is hard to manipulate. For example, I would never sign onto a website handing personal information that did not have a secure login. The typical user needs some type of assurance, and it is fairly easy to spot the “bad eggs.” Cartoon-y colors, flashing lights, and “Click Here!!!” buttons are a dead giveaway. ETrust can be reasonably measured by direct feedback from the customers; both their opinions and numeric statistics of sales for the company are indicators of positive or negative growth. Of course this method is not completely accurate, but the best way to know the businesses strengths and weaknesses come from the customers’ opinions. Companies can gain advantage in the digital world by being a “First Mover,” which is a form of competitive advantage that a company earns by being the first to enter a specific market or industry. Being the first allows a company to acquire superior brand recognition and eLoyalty. The company also has more time to perfect its product or service. EBay is the best “First Mover” example I can think of. EBay was the first of its kind; the first company to take the auction process online, kicking off operations in 1995. First movers are often followed by competitors that try to capitalize on the original company's success. By this time, however, the first mover has usually accumulated enough market share, expertise and customer loyalty to remain on top. EBay has dominated the auction trading market, while its main draw is the low cost of the items sold. Anyone can sell or buy an item on eBay, and earning great deals or even having your own business on the site is very appealing. Competitors like Amazon and Overstock compete, but I do not think they have the same superior and longstanding image as eBay. In conclusion, eTrust has revolutionized the e-marketplace. If businesses can gain the loyalty and trust from their customers with personal information, they can have the competitive advantage, leading to higher profits and more satisfied customers. If a company loses eTrust, it is hard to regain, so great attention and precautions should be taken to ensure privacy and security is the utmost priority. These steps will ensure the safety of all involved, and will strengthen the e-marketplace every day.