Individual essay nguyenletoan AEn T321WSB 6 21001300

Industries are gradually converting to digitalization as the digital technology era progresses Trading is one of the most important conditions through which the term "ecommerce" has become a phenomenon Ecommerce is the use of electronic media and processing technology to create, transfer, and redefine relationships in order to produce a value between companies and individuals in economic transactions To many individuals, e-commerce simply means doing business via the internet Nonetheless, Ofori et al (2002) define ecommerce as "the application of information technology solutions to aid in the formulation and development of new business strategies." Adopting e-commerce is critical for small enterprises to achieve competitive and strategic benefits E-commerce allows firms to contact their clients wherever they are, which necessitates a shift in strategic planning in accordance with their ecommerce strategy Small and medium-sized enterprises (SMEs) help both developed and developing countries and they are widely regarded as engines of global economic growth Developing countries have begun to recognize the critical role that SMEs can play in their growth (Maad, 2008) According to the OECD, small and medium businesses account for 90% of businesses and employ 63 percent of the global workforce (Munro, 2013) Therefore, the aim of this essay is to investigate how business strategies are formulated and implemented in SMEs, what the strategic role of entrepreneurship is in small businesses, and the main factor affecting the relationship between e-commerce adoption and strategic management To begin with, business methods should vary depending on the type of service offered and be based on the unique characteristics of services, just as a product's physical properties might help or hinder its fit for e-commerce As a result, developing a classification scheme for e- commerce services is necessary in order to explore appropriate tactics for services grouped by such features The four following categories can be used to identify and classify e-commerce for SMEs Firstly, business-to-consumer (B2C) e-commerce involves the purchase of actual (physical, such as books or consumer products) or common information (or goods of electronic materials or digitized content, such as software, e-books) and information goods over an electronic network This is the most common and oldest type of e-commerce The first step is Etailing is one of its advantages As a result, B2C enterprises like Amazon.com, Drugstore.com, Beyond.com, Barnes, and Noble, and ToysRus are instances of online merchants This type of ecommerce has a wide range of uses, including product and information purchasing, personal finance management, and personal and financial investment management using banking technologies Secondly, business-to-business (B2B) e-commerce is simply defined as a type of ecommerce that is related to business partnerships Most analysts believe that B2B e-commerce will continue to develop faster than B2C e-commerce, which accounts for about 80% of all ecommerce The costs have been greatly lowered when B2B e-commerce is implemented Clients not have to go via middlemen to acquire information about suppliers of items and pricing, as they would in a traditional supply chain system The capabilities of virtual markets can help to improve process efficiency and commercial transactions The goal of B2B is to complete the sales process through online auctions Thirdly, B1B e-commerce (business-in-business) is frequently mentioned as a third type of e-commerce B1B e-commerce refers to transactions that take place within a company Large corporations may also execute commercial transactions between their many business units on their own The IT department, for example, may charge various business units for IT services Large businesses are the primary users of intra-business ecommerce SMEs have too few staff to sustain intra-business IT&T applications for e-commerce on a commercial basis Finally, customer-to-customer (C2C) refers to business between individuals and consumers This sort of e-commerce is defined by the advent of e-marketplaces and online auctions, particularly in vertical industries, where companies or enterprises can bid on what they want from a variety of vendors' offers This could be the most promising area for the creation of a new market Along the service process dimension, the strategic role is dependent on the knowledge and experience of the service providers, necessitating specific attention to staff hiring, training, and retention Standard operating procedures may not be successful in this process type, hence organizational culture is the most important control mechanism Employee professionalism is crucial since the employee or expert is critical to the success of this sort of service organization 'Importance of professional knowledge' highlights the extent to which customers are concerned about professional knowledge levels when choosing a service provider (Cho & Park, 2002) The term "degree of labor intensity" refers to the importance of human resources in the production and delivery of services 'Degree of interaction' refers to the number of times a service provider and a client engage during the delivery process The 'degree of customer contact' refers to the amount of time a customer spends in the service system for each transaction (Silvestro et al., 1992) Customer expectations about the sort of relationship with the service organization, such as whether it entails a membership relationship or not, are referred to as 'necessity of membership relation.' 'Degree of customization' refers to the degree to which service procedures adjust to fit the needs of unique customers The 'Necessity of Offline Contact' test examines a customer's impression of the requirement for offline services, whether for convenience or trust or due to physical factors in the delivery process Customer views of how frequently service purchases occur are measured by 'frequency of purchase' — it is widely acknowledged that frequently purchased commodities are more likely to be commercially successful (Kotler et al., 1998) In relation to the search or experience qualities of products, the 'Feature of search goods' emphasizes the necessity for prior experience while acquiring a service (Poon & Joseph, 2000) Customers' impressions of the average price of online service goods are measured by the final variable, 'price.' Customers are more hesitant to buy affordable services through the Internet because they are intensely invested in them and perceive their purchase as being associated with additional hazards Most studies have presented service typologies and fundamental frameworks for assessing service operations and marketing strategies in terms of such service classifications from the top down This means that services have been conceptually classified with little effort made into categorizing existing services based on actual facts, despite the fact that a bottom-up approach would be more practical Customer recognition of transactional aspects is crucial in ecommerce, so creating a taxonomy for online service commodities that takes a bottom-up approach from the customer's perspective would be quite advantageous In reality, understanding online clients is becoming increasingly important (Straub & Watson, 2001) In today's industry, the client has long been acknowledged as one of the most powerful factors, and this can be true in e-commerce as well (Chen & Dubinsky, 2003; Shun & Yunjie, 2006) Furthermore, because consumers' expectations of online services play a key role in satisfaction formation, customer perception of online services must be included in the development of service strategies in order to forecast customer choice and future purchase intentions The factors used to classify services are divided into two categories in this article: service providers and clients To begin with, one of the most common variables among service providers is whether the service is delivered in a continuous or discrete manner Another common one is service intangibility, which means that "they cannot be seen, felt, tasted, or touched in the same way as commodities can be sensed," and services can be classified according to their intangibility When it comes to service facilities, there are several elements to consider, including the number of service outlets available, the degree of product component (Lindberg & Nordin, 2008; McDermott, Kang, & Walsh, 2001), and whether the focus is on equipment or people Supply constraints, worker intensity, and different types of knowledge are all important determinants in service productivity The service production process takes into account the structure of the service system, the structure of the service process, the types of service organization-customer interactions, and the extent to which customer contact people apply judgment in addressing specific customer needs Service strategy, product or process focus, after-service types, trading service capability are some of the other elements to consider (Araujo & Spring, 2006) To summarize, for strategic service management, a new conceptual framework integrating the service process structure with the service product structure is developed In nature, some services necessitate intimate buyer-supplier interactions, with the function of trust between the buyer and seller playing a critical part As a result, this research provides a thorough grasp of the connection between e-commerce and corporate strategies This will broaden ecommerce adoption expertise and literature, as well as strategic management approaches This research contributes to this body of knowledge by answering the following question: What impact does e-commerce adoption have on corporate strategy? 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