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E-Entrepreneurship

OBJECTIVES
12-1 Explain the difference between bricks-and-mortar and virtual
     businesses.
12-2 Discuss the scope of the e-entrepreneurship market and how to
     address e-entrepreneurship in the business plan.
12-3 Explain the process of creating an e-business web site.
12-4 Discuss e-entrepreneurship and the law.
12-5 Evaluate an e-business web site according to a checklist of
     important factors.
12-6 Discuss the myths of e-entrepreneurship.
12-7 Analyze common e-entrepreneurship mistakes.
E-entrepreneur
 An e-entrepreneur is defined as an
  individual willing to take the risk of
  investing time and money in an
  electronic business that has the
  potential to make a profit or incur a loss.
 E-entrepreneurship is the act of
  managing an electronic enterprise that
  has the potential to make a profit or
  incur a loss.
Bricks and Mortar Business
 Has a material presence
 Has a tangible location where potential
  customers can actually walk in and
  interact with employees
 Examples: storefront, storage facility,
  office space, or manufacturing facility
Virtual Business
 Does not have a material space
  designed to receive customers
 Transacts most of its business online
 Can deal with customers from any
  location that offers Internet capability
The E-Entrepreneurship Market
 Approximately 75 percent of Americans
  have access to the Internet from home.
 That means over 200 million people are
  potential customers for the
  entrepreneur with an Internet site.
History of E-Entrepreneurship
 In the early 1990s, electronic data interchange was
  standardized and companies could reliably complete
  transactions among themselves.
 In 1992, Compuserve offered online retail products to
  its customers.
 Netscape arrived on the scene in 1994 and provided
  users with a simple and colorful browser with which
  to surf the Internet.
 Netscape also provided a safe online transaction
  technology called Secure Sockets Layer.
(continued)
History of E-Entrepreneurship
 The following year saw the launch of Amazon.com
  and eBay.
 In 1998, DSL, or Digital Subscriber Line, which
  provided fast, always-on Internet service, was offered
  to customers across California.
 By 1999 retail spending over the Internet reached an
  estimated $20 billion.
 In 2004, the U.S. government extended the original
  1998 moratorium on Internet taxes until at least 2009.
E-Entrepreneurship
in the Business Plan
 The e-entrepreneurship components of the
  business planning process integrate your
  Internet site and your basic business model.
 They should address web site planning,
  development, marketing, legal, financial,
  management, and special considerations.
 They should be designed to ensure that your
  Internet content reaches the right customer
  while leveraging the full value of the Internet
  as a marketing tool.
Create an E-Business
 The first step toward e-entrepreneurship
  is usually the selection and registration
  of a domain name, which is the unique
  name that identifies an Internet site.
 The selection of a domain name is a
  chief concern when doing business
  online.
Domain Name Process
 Choose a domain name that is easy to
  remember and is not easily confused with
  other names.
 Use a search engine to check for other
  companies using the same name or a
  derivation of it.
 Through registration it becomes a legitimate
  part of the Domain Name System (DNS).
Domain Name System
 Every computer linked to the Internet has an
  exclusive address, called its Internet
  Protocol (IP) address.
 The DNS makes using the Internet easier by
  allowing a recognizable string of letters (the
  domain name) to be used instead of the
  numeric IP address.
 So instead of keying a long number, you can
  key the URL (Uniform Resource Locator), for
  example http://domainname.com.
ICANN
 Registration of domain names is controlled by
  a private-public partnership called the
  Internet Corporation for Assigned Names
  and Numbers (ICANN).
 Numerous companies have been accredited
  by ICANN to act as registrars.
 Domain names can be registered through the
  many different registrar companies.
Components of
an E-Business Site
 Web site design
 Content
 Web host
 Security and/or firewalls
 Search site submission
 On-site search engine
 Database software
Additional Features
Needed for Online Payment
 Product catalog
 Shopping cart
 Merchant account provider
 Alternative payment options
 Order fulfillment
 Customer service
 E-mail notification
 Customer FAQs
E-Entrepreneurship and the Law
 Fraud and deception are unlawful no
  matter what the medium.
 The Federal Trade Commission has
  enforced and will continue enforcing its
  consumer protection laws.
Advertising
 Online consumers are protected by
  many of the general principles of
  advertising law that also apply to
  Internet ads.
 The same consumer protection laws
  that apply to commercial activities in
  other media apply online.
Spam
 Spam is defined as unsolicited “junk” e-
  mail sent to large numbers of people to
  promote products or services.
E-Consumer Complaints
 The FTC has an online general
  complaint form that can be used by
  consumers to register complaints
  relating to online transactions in the
  U.S.
 Another FTC form may be used for e-
  business complaints involving a foreign
  company.
Global E-Entrepreneurship
Agreement
 The U.S. and 29 other countries are
  members of the Organization for
  Economic Cooperation and
  Development (OECD).
Global E-Entrepreneurship
Agreement Guidelines
 Fair business, advertising, and marketing
  practices
 Enough information to allow consumers to
  make informed choices, including disclosures
  about online businesses, their goods and
  services, and the terms and conditions of sale
 Clear processes for confirming transactions
 Secure payment mechanisms
Global E-Entrepreneurship
Agreement Guidelines (continued)
 Timely and affordable dispute resolution and
  redress processes
 Privacy protection
 Consumer and business education
 International government cooperation
Application of OECD Guidelines
 Follow fair business, advertising, and marketing
  practices.
 Provide accurate, clear, and easily accessible
  information about the company and the goods or
  services it offers.
 Disclose full information about the terms, conditions,
  and costs of the transaction.
 Ensure that consumers know they are making a
  commitment to buy before closing the deal.
 Provide an easy-to-use and secure method for online
  payments.
(continued)
Application of OECD Guidelines
 Protect consumer privacy during electronic
  transactions.
 Have policies and procedures to address consumer
  problems quickly, fairly, and without excessive cost or
  inconvenience to the consumer.
 Adopt fair, effective, and easy-to-understand self-
  regulatory policies and procedures.
 Help educate consumers about electronic commerce,
  thereby contributing to a consumer-friendly electronic
  marketplace.
Better Business Bureau/
BBB Online
Code of Online Business Practices
 Truthful and accurate communications
 Disclosure
 Information practices and security
 Customer satisfaction
 Protecting children
Web Site
Checklist
Myths of E-Entrepreneurship
 E-entrepreneurship is a no-brainer.
 E-entrepreneurship is cheap.
 The best price is always online.
 E-commerce will kill traditional retail.
 E-entrepreneurships make an obscene
  amount of money.
 E-entrepreneurship is not safe.
(continued)
Myths of E-Entrepreneurship
 E-entrepreneurship success depends
  on the right technology.
 Getting products to consumers is an
  e-entrepreneur’s biggest cost.
 Most Web consumers are “young.”
 If a product or service can be sold, it
  can be sold on the Web.
 Everyone else is selling online.
15 Most Common
E-Entrepreneurship Mistakes
1.     Trying to sell the wrong product online
2.     Misjudging the web site’s potential
3.     Forgetting that a first impression can
only be made once
4.     Making the site too complicated
5.     Using a complicated navigation system
6.     Forgetting to list your phone number
7.     Supporting only one browser
8.     Featuring out-of-date content
15 Most Common
E-Entrepreneurship Mistakes (continued)
9.    Requiring excessive download times
10.   Ignoring customer service
11.   Not validating the functionality of your site
12.   Not merging your web site with your
conventional business
13.   Not promoting the site
14.   Using spam promotion
15.   Failing to deliver products
Creating a Winning E-Business
Learning Objectives
      Identify entrepreneurial abilities
      Describe the entrepreneurial process
      Understand the factors affecting e-
       business success
      Identify ways to exploit e-business
       advantages


31
The Entrepreneur and the
     Entrepreneurial Process
      Entrepreneur
        Assumes the risks of starting and operating
         his or her own business
        Must be able to lead others
        Must believe in his or her business idea
        Must have the self-confidence to accomplish
         business goals



32
The Entrepreneur and the
     Entrepreneurial Process (continued)

      E-business entrepreneur examples
        Jeff Bezos, Amazon.com
        Pierre Omidyar, eBay
        Kelby Hagar, GroceryWorks.com and Digital
         Witness
        Jason Zasky, Failure Magazine




33
The Entrepreneur and the
     Entrepreneurial Process (continued)

      Entrepreneurial abilities
        Leadership traits
        High-energy level
        Self-confidence
        Organizational skills
        Ability to act quickly and decisively
        Independent, goal-oriented, creative,
         competitive

34
The Entrepreneur and the
     Entrepreneurial Process (continued)

      Entrepreneurial process
        Stage 1: Are you an entrepreneur?
         Assess your entrepreneurial abilities
         Evaluate time and effort involved in
          starting/running your own business
         Consider the effect of the business commitment on
          your family life




35
The Entrepreneur and the
     Entrepreneurial Process (continued)

      Entrepreneurial process (continued)
        Stage 2: Buy existing business or start own
         business?




36
The Entrepreneur and the
     Entrepreneurial Process (continued)

      Entrepreneurial process (continued)
        Stage 3: For a new business startup you must
         Define the business idea
         Create a business plan
         Secure financing




37
The Entrepreneur and the
     Entrepreneurial Process (continued)

      Entrepreneurial process (continued)
        Stage 4: Operate and grow your business




38
The Entrepreneur and the
     Entrepreneurial Process (continued)

      Entrepreneurial process (continued)
        Stage 5: Harvest your business
         Continue to operate “cash cow”
         Go public
         Sell the business
         Liquidate the business




39
The Entrepreneur and the
     Entrepreneurial Process (continued)




40
Factors Affecting
     E-Business Success
      The network effect
        Total value of a product, service, or
         technology grows as more and more people
         use it
         Telephone system example
             Single telephone has no value; as more people join the
              telephone system, the value of each telephone increases
         uBid online auction site example
             As more people participate, the auction site becomes
              more valuable to buyers and sellers



41
Factors Affecting
     E-Business Success (continued)




42
Factors Affecting
     E-Business Success (continued)




43
Factors Affecting
     E-Business Success (continued)
      Innovative marketing ideas
        Hotmail and viral marketing example
         Hotmail users grew at a rapid rate because of
          electronic word of mouth coupled with the network
          effect
         Electronic word of mouth or viral marketing
          spreads from user to user in the same way a
          human virus spreads from person to person




44
Factors Affecting
     E-Business Success (continued)




45
Factors Affecting
     E-Business Success (continued)
      Scalability
        Ability of a business to function well in the
         face of rapid growth
          Systems and procedures meet customers needs
          AllAdvantage e-business failure example
              E-business idea: Paying for users to browse the Web
               and view advertising
              Millions of customers signed on; advertisers did not
              No scalability with rapid growth in customers




46
Factors Affecting
     E-Business Success (continued)
      Ease of entry into electronic markets
        Low-cost technologies make it easy to create
         new e-businesses
        eBay and online auction example
          Easy for consumers to interact at auction site
          Web auction software is cheap and easy to
           install /maintain
          E-businesses earn commissions without having to
           manage, warehouse, and distribute products


47
Factors Affecting
     E-Business Success (continued)




48
Factors Affecting
     E-Business Success (continued)
      Ease of entry into electronic markets
       (continued)
        Competitive barriers to overcome
          Failure to secure first-mover advantage
          Lack of name identification
          Lack of customer loyalty




49
Factors Affecting
     E-Business Success (continued)

      Ability to quickly adapt to marketplace
       changes
        Rapid knowledge transfer
        Need to make decisions quickly
        Exploit new ideas and opportunities
        Handle new challenges
          Amazon.com is an example of ongoing evolution
           from a basic e-business idea



50
Factors Affecting
     E-Business Success (continued)




51
Exploiting E-Business
     Advantages (continued)
      Expand the market
        Business and consumers are no longer bound
         by constraints of time, space, physical
         location
        Opportunity to reach larger market
        Ticketmaster example




52
Exploiting E-Business
     Advantages (continued)




53
Exploiting E-Business
     Advantages (continued)
      Acquire greater business visibility
        Get business name, products, and services in
         front of potential customers more quickly
        Auto industry example




54
Exploiting E-Business
     Advantages (continued)




55
Exploiting E-Business
     Advantages (continued)




56
Exploiting E-Business
     Advantages (continued)

      Use power of the Internet and Web to
       maximize customer relationships and
       improve responsiveness
        Create customer loyalty
        Stay in touch with customer needs
        Build one-on-one relationships
        Provide information to enrich customers’
         online experience
         Southwest Airlines example

57
Exploiting E-Business
     Advantages (continued)




58
Exploiting E-Business
     Advantages (continued)

      Create new products and services
        Opportunities for new e-business ideas where
         products or services are accessed over the
         Web
         Business software applications
         Server facilities for data file backup
         Legal dispute resolution
             Cybersettle example
         Web hosting services
             Rackspace Managed Hosting example

59
Exploiting E-Business
     Advantages (continued)




60
Exploiting E-Business
     Advantages (continued)




61
Exploiting E-Business
     Advantages (continued)

      Reduce costs of running a business
        Sales and customer support costs
        Transaction costs
        Order handling costs
         Dell Computers, Cisco Systems, and Microsoft
          Corporation examples




62
Exploiting E-Business
     Advantages (continued)




63
Exploiting E-Business
     Advantages (continued)




64
Summary
      An entrepreneur assumes the risks of
       starting and operating his or her own
       business
      Entrepreneurial abilities
        Leadership
        High-energy
        Self-confidence
        Organization skills
        Ability to act quickly
65
Summary
     (continued)
      Five stages of the entrepreneurial process
        Decide if you are an entrepreneur
        Decide to buy or start new business
        Plan the business
        Operate the business
        Harvest the business




66
Summary
     (continued)
      Factors that can affect e-business
       success
        Network effect
        Innovative marketing ideas
        Scalability of the e-business idea
        Cost of entry into the marketplace
        Ability to overcome competitive barriers
        Ability to exploit inherent advantages


67

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Topic 9 E entrepreneurship

  • 1. E-Entrepreneurship OBJECTIVES 12-1 Explain the difference between bricks-and-mortar and virtual businesses. 12-2 Discuss the scope of the e-entrepreneurship market and how to address e-entrepreneurship in the business plan. 12-3 Explain the process of creating an e-business web site. 12-4 Discuss e-entrepreneurship and the law. 12-5 Evaluate an e-business web site according to a checklist of important factors. 12-6 Discuss the myths of e-entrepreneurship. 12-7 Analyze common e-entrepreneurship mistakes.
  • 2. E-entrepreneur  An e-entrepreneur is defined as an individual willing to take the risk of investing time and money in an electronic business that has the potential to make a profit or incur a loss.  E-entrepreneurship is the act of managing an electronic enterprise that has the potential to make a profit or incur a loss.
  • 3. Bricks and Mortar Business  Has a material presence  Has a tangible location where potential customers can actually walk in and interact with employees  Examples: storefront, storage facility, office space, or manufacturing facility
  • 4. Virtual Business  Does not have a material space designed to receive customers  Transacts most of its business online  Can deal with customers from any location that offers Internet capability
  • 5. The E-Entrepreneurship Market  Approximately 75 percent of Americans have access to the Internet from home.  That means over 200 million people are potential customers for the entrepreneur with an Internet site.
  • 6. History of E-Entrepreneurship  In the early 1990s, electronic data interchange was standardized and companies could reliably complete transactions among themselves.  In 1992, Compuserve offered online retail products to its customers.  Netscape arrived on the scene in 1994 and provided users with a simple and colorful browser with which to surf the Internet.  Netscape also provided a safe online transaction technology called Secure Sockets Layer.
  • 7. (continued) History of E-Entrepreneurship  The following year saw the launch of Amazon.com and eBay.  In 1998, DSL, or Digital Subscriber Line, which provided fast, always-on Internet service, was offered to customers across California.  By 1999 retail spending over the Internet reached an estimated $20 billion.  In 2004, the U.S. government extended the original 1998 moratorium on Internet taxes until at least 2009.
  • 8. E-Entrepreneurship in the Business Plan  The e-entrepreneurship components of the business planning process integrate your Internet site and your basic business model.  They should address web site planning, development, marketing, legal, financial, management, and special considerations.  They should be designed to ensure that your Internet content reaches the right customer while leveraging the full value of the Internet as a marketing tool.
  • 9. Create an E-Business  The first step toward e-entrepreneurship is usually the selection and registration of a domain name, which is the unique name that identifies an Internet site.  The selection of a domain name is a chief concern when doing business online.
  • 10. Domain Name Process  Choose a domain name that is easy to remember and is not easily confused with other names.  Use a search engine to check for other companies using the same name or a derivation of it.  Through registration it becomes a legitimate part of the Domain Name System (DNS).
  • 11. Domain Name System  Every computer linked to the Internet has an exclusive address, called its Internet Protocol (IP) address.  The DNS makes using the Internet easier by allowing a recognizable string of letters (the domain name) to be used instead of the numeric IP address.  So instead of keying a long number, you can key the URL (Uniform Resource Locator), for example http://domainname.com.
  • 12. ICANN  Registration of domain names is controlled by a private-public partnership called the Internet Corporation for Assigned Names and Numbers (ICANN).  Numerous companies have been accredited by ICANN to act as registrars.  Domain names can be registered through the many different registrar companies.
  • 13. Components of an E-Business Site  Web site design  Content  Web host  Security and/or firewalls  Search site submission  On-site search engine  Database software
  • 14. Additional Features Needed for Online Payment  Product catalog  Shopping cart  Merchant account provider  Alternative payment options  Order fulfillment  Customer service  E-mail notification  Customer FAQs
  • 15. E-Entrepreneurship and the Law  Fraud and deception are unlawful no matter what the medium.  The Federal Trade Commission has enforced and will continue enforcing its consumer protection laws.
  • 16. Advertising  Online consumers are protected by many of the general principles of advertising law that also apply to Internet ads.  The same consumer protection laws that apply to commercial activities in other media apply online.
  • 17. Spam  Spam is defined as unsolicited “junk” e- mail sent to large numbers of people to promote products or services.
  • 18. E-Consumer Complaints  The FTC has an online general complaint form that can be used by consumers to register complaints relating to online transactions in the U.S.  Another FTC form may be used for e- business complaints involving a foreign company.
  • 19. Global E-Entrepreneurship Agreement  The U.S. and 29 other countries are members of the Organization for Economic Cooperation and Development (OECD).
  • 20. Global E-Entrepreneurship Agreement Guidelines  Fair business, advertising, and marketing practices  Enough information to allow consumers to make informed choices, including disclosures about online businesses, their goods and services, and the terms and conditions of sale  Clear processes for confirming transactions  Secure payment mechanisms
  • 21. Global E-Entrepreneurship Agreement Guidelines (continued)  Timely and affordable dispute resolution and redress processes  Privacy protection  Consumer and business education  International government cooperation
  • 22. Application of OECD Guidelines  Follow fair business, advertising, and marketing practices.  Provide accurate, clear, and easily accessible information about the company and the goods or services it offers.  Disclose full information about the terms, conditions, and costs of the transaction.  Ensure that consumers know they are making a commitment to buy before closing the deal.  Provide an easy-to-use and secure method for online payments.
  • 23. (continued) Application of OECD Guidelines  Protect consumer privacy during electronic transactions.  Have policies and procedures to address consumer problems quickly, fairly, and without excessive cost or inconvenience to the consumer.  Adopt fair, effective, and easy-to-understand self- regulatory policies and procedures.  Help educate consumers about electronic commerce, thereby contributing to a consumer-friendly electronic marketplace.
  • 24. Better Business Bureau/ BBB Online Code of Online Business Practices  Truthful and accurate communications  Disclosure  Information practices and security  Customer satisfaction  Protecting children
  • 26. Myths of E-Entrepreneurship  E-entrepreneurship is a no-brainer.  E-entrepreneurship is cheap.  The best price is always online.  E-commerce will kill traditional retail.  E-entrepreneurships make an obscene amount of money.  E-entrepreneurship is not safe.
  • 27. (continued) Myths of E-Entrepreneurship  E-entrepreneurship success depends on the right technology.  Getting products to consumers is an e-entrepreneur’s biggest cost.  Most Web consumers are “young.”  If a product or service can be sold, it can be sold on the Web.  Everyone else is selling online.
  • 28. 15 Most Common E-Entrepreneurship Mistakes 1. Trying to sell the wrong product online 2. Misjudging the web site’s potential 3. Forgetting that a first impression can only be made once 4. Making the site too complicated 5. Using a complicated navigation system 6. Forgetting to list your phone number 7. Supporting only one browser 8. Featuring out-of-date content
  • 29. 15 Most Common E-Entrepreneurship Mistakes (continued) 9. Requiring excessive download times 10. Ignoring customer service 11. Not validating the functionality of your site 12. Not merging your web site with your conventional business 13. Not promoting the site 14. Using spam promotion 15. Failing to deliver products
  • 30. Creating a Winning E-Business
  • 31. Learning Objectives  Identify entrepreneurial abilities  Describe the entrepreneurial process  Understand the factors affecting e- business success  Identify ways to exploit e-business advantages 31
  • 32. The Entrepreneur and the Entrepreneurial Process  Entrepreneur  Assumes the risks of starting and operating his or her own business  Must be able to lead others  Must believe in his or her business idea  Must have the self-confidence to accomplish business goals 32
  • 33. The Entrepreneur and the Entrepreneurial Process (continued)  E-business entrepreneur examples  Jeff Bezos, Amazon.com  Pierre Omidyar, eBay  Kelby Hagar, GroceryWorks.com and Digital Witness  Jason Zasky, Failure Magazine 33
  • 34. The Entrepreneur and the Entrepreneurial Process (continued)  Entrepreneurial abilities  Leadership traits  High-energy level  Self-confidence  Organizational skills  Ability to act quickly and decisively  Independent, goal-oriented, creative, competitive 34
  • 35. The Entrepreneur and the Entrepreneurial Process (continued)  Entrepreneurial process  Stage 1: Are you an entrepreneur? Assess your entrepreneurial abilities Evaluate time and effort involved in starting/running your own business Consider the effect of the business commitment on your family life 35
  • 36. The Entrepreneur and the Entrepreneurial Process (continued)  Entrepreneurial process (continued)  Stage 2: Buy existing business or start own business? 36
  • 37. The Entrepreneur and the Entrepreneurial Process (continued)  Entrepreneurial process (continued)  Stage 3: For a new business startup you must Define the business idea Create a business plan Secure financing 37
  • 38. The Entrepreneur and the Entrepreneurial Process (continued)  Entrepreneurial process (continued)  Stage 4: Operate and grow your business 38
  • 39. The Entrepreneur and the Entrepreneurial Process (continued)  Entrepreneurial process (continued)  Stage 5: Harvest your business Continue to operate “cash cow” Go public Sell the business Liquidate the business 39
  • 40. The Entrepreneur and the Entrepreneurial Process (continued) 40
  • 41. Factors Affecting E-Business Success  The network effect  Total value of a product, service, or technology grows as more and more people use it Telephone system example  Single telephone has no value; as more people join the telephone system, the value of each telephone increases uBid online auction site example  As more people participate, the auction site becomes more valuable to buyers and sellers 41
  • 42. Factors Affecting E-Business Success (continued) 42
  • 43. Factors Affecting E-Business Success (continued) 43
  • 44. Factors Affecting E-Business Success (continued)  Innovative marketing ideas  Hotmail and viral marketing example Hotmail users grew at a rapid rate because of electronic word of mouth coupled with the network effect Electronic word of mouth or viral marketing spreads from user to user in the same way a human virus spreads from person to person 44
  • 45. Factors Affecting E-Business Success (continued) 45
  • 46. Factors Affecting E-Business Success (continued)  Scalability  Ability of a business to function well in the face of rapid growth Systems and procedures meet customers needs AllAdvantage e-business failure example  E-business idea: Paying for users to browse the Web and view advertising  Millions of customers signed on; advertisers did not  No scalability with rapid growth in customers 46
  • 47. Factors Affecting E-Business Success (continued)  Ease of entry into electronic markets  Low-cost technologies make it easy to create new e-businesses  eBay and online auction example Easy for consumers to interact at auction site Web auction software is cheap and easy to install /maintain E-businesses earn commissions without having to manage, warehouse, and distribute products 47
  • 48. Factors Affecting E-Business Success (continued) 48
  • 49. Factors Affecting E-Business Success (continued)  Ease of entry into electronic markets (continued)  Competitive barriers to overcome Failure to secure first-mover advantage Lack of name identification Lack of customer loyalty 49
  • 50. Factors Affecting E-Business Success (continued)  Ability to quickly adapt to marketplace changes  Rapid knowledge transfer  Need to make decisions quickly  Exploit new ideas and opportunities  Handle new challenges Amazon.com is an example of ongoing evolution from a basic e-business idea 50
  • 51. Factors Affecting E-Business Success (continued) 51
  • 52. Exploiting E-Business Advantages (continued)  Expand the market  Business and consumers are no longer bound by constraints of time, space, physical location  Opportunity to reach larger market  Ticketmaster example 52
  • 53. Exploiting E-Business Advantages (continued) 53
  • 54. Exploiting E-Business Advantages (continued)  Acquire greater business visibility  Get business name, products, and services in front of potential customers more quickly  Auto industry example 54
  • 55. Exploiting E-Business Advantages (continued) 55
  • 56. Exploiting E-Business Advantages (continued) 56
  • 57. Exploiting E-Business Advantages (continued)  Use power of the Internet and Web to maximize customer relationships and improve responsiveness  Create customer loyalty  Stay in touch with customer needs  Build one-on-one relationships  Provide information to enrich customers’ online experience Southwest Airlines example 57
  • 58. Exploiting E-Business Advantages (continued) 58
  • 59. Exploiting E-Business Advantages (continued)  Create new products and services  Opportunities for new e-business ideas where products or services are accessed over the Web Business software applications Server facilities for data file backup Legal dispute resolution  Cybersettle example Web hosting services  Rackspace Managed Hosting example 59
  • 60. Exploiting E-Business Advantages (continued) 60
  • 61. Exploiting E-Business Advantages (continued) 61
  • 62. Exploiting E-Business Advantages (continued)  Reduce costs of running a business  Sales and customer support costs  Transaction costs  Order handling costs Dell Computers, Cisco Systems, and Microsoft Corporation examples 62
  • 63. Exploiting E-Business Advantages (continued) 63
  • 64. Exploiting E-Business Advantages (continued) 64
  • 65. Summary  An entrepreneur assumes the risks of starting and operating his or her own business  Entrepreneurial abilities  Leadership  High-energy  Self-confidence  Organization skills  Ability to act quickly 65
  • 66. Summary (continued)  Five stages of the entrepreneurial process  Decide if you are an entrepreneur  Decide to buy or start new business  Plan the business  Operate the business  Harvest the business 66
  • 67. Summary (continued)  Factors that can affect e-business success  Network effect  Innovative marketing ideas  Scalability of the e-business idea  Cost of entry into the marketplace  Ability to overcome competitive barriers  Ability to exploit inherent advantages 67