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.
Business Idea
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 model 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.
Business Analysis
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. Use the porters five forces tool in Appendix A. 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, make sure you select the correct strategy. Analyze your market, forecast sales, and measure revenue. Even though forecasts are never correct, it is recommended that you statistically evaluate your future revenue.
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. 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. Do you still expect to make profit? What is your break-even point?
P.S.: During this step you are required to define at least the five most important functionalities (e.g.: Search product, create customer account, order product, pay, and ask for help). Use the use-case template in Appendix B to define your functionalities. You are also expected to design your database.
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.
Pick a good name
Your last step is to find the name that best suits your business.
Deliverable requirements
Report: The completed report should be approximately 12-16 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.
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