Jan Christopher D.

Decoro AC 303
BSA-4 MWF (8:30-9:30)

E-Business as a New Trend in the Economy

In the present economy, it is in fact inevitable that the emergence of new trends is evident.
Perhaps, even in the commercial world. There is a handful of new trends that paves way for the side-by-
side progress and development of a certain field. These trends either boost or alleviate an economy’s
certain situation. But, in today’s busy economy, a country needs all the help it can get even when it comes
to the expense of e-businesses.

Electronic business allows companies to link their internal and external processes more efficiently
and effectively, and work more closely with suppliers and partners to better satisfy the needs and
expectations of their customers, leading to improvements in overall business performance. While a
website is one of the most common implementations, E-Business is much more than just a web presence.
There is a vast array of internet technologies all designed to help businesses work smarter not harder.
Think about collaboration tools, mobile and wireless technology, Customer Relationship Management and
social media to name a few. E-business has taken further steps forward. It is becoming more and more
complex and simple at the same time under certain circumstances. Simple in a way that it is
technologically-related; thus, stretching every possible way to transact business. Complex on the other
hand as to doing the transaction itself. While e-commerce is on a high pedestal of popularity and demand;
it will still take time to completely eclipse traditional retailing. A large percentage of companies are not
being able to improve conversion rates through their online market solutions. But this solely depends on
the ability of sellers and buyers to contract themselves with one another. Furthermore, it is in a way
advanced because sellers can keep track of what is important to sellers, and sellers can discuss concerns
with buyers. They can keep improving their services and quality of the products. This is both benefits to
these two parties.

E-business does not only limit its scope on selling purposes only. There is a lot more that it
encompasses- from documents to other legal purposes it may be used. However, there are some
challenges that online business has to face. Although internet is now an indispensable tool in developed
countries and wealthy family, yet many people who live in underdeveloped nations have no access to
internet. This disparity limits the expansion of online business because online purchasing seems like a
superior knickknack, only designed for rich people. But in the Philippine setting, almost everyone
(regardless of economic status) has access to the internet. Hence, probable to do online transactions as
well.

Variations in models and strategies are also evident in the electronic type of business. It is with
great discretion on part of the users with what to use to be able to effectively and efficiently bring their
respective plans to greatness. Today’s competitive business world demands an online presence. This is
particularly true if businesses wish to reach customers who are otherwise not possible to reach through
traditional retailing. The early pioneers who have listed their products and services for sale online have
really hit the bull’s eye. Customers have got hooked to these sites and have enormously enjoyed the
benefits and ease of being able to browse products on e-commerce marketplaces from the comfort of
their homes. There should be a proper combination of both aforementioned subjects to be able to
conduct smoothly in this highly competitive market economy. Managers should make means and ways to
be always one step ahead of their competitors and make a name for themselves; for longevity and other
important purposes. E-business has become more important than ever for businesses to stay afloat. It
won’t be an exaggerated statement to make that businesses can lose customers or revenue by not
maintaining an online presence today.

Researches, like the one assigned, are very important for continuous knowledge. These are
needed to further improve the current situation of businesses in the country; and even perhaps, the whole
world. These are important to have an analytical and critical view of businesses- whether a certain type
of business needs an overhaul to compete at the highest level possible, or if a business needs to shift its
focus and it model itself. Researches are eye-openers for new entrants or other individuals who wish to
pursue these kinds of businesses (electronic). They will have a great grasp of what is really ahead of them;
of the risks and opportunities of entering such kind of business. Studies will also be of great help in
determining the pros and cons of e-businesses. Our economy is still growing. Thus, so is our business
models and strategies. One side has to be in accordance with the other. Because in competition, risk-
takers and risk-averse individuals are separated by their strategic ways and models.

Bottomline, as time passes by, it is really vital that our economy also cope with it- from
technological advancements to the littlest of things in every facet of the country. Change comes quickly
in the online world, and companies that move quickly to assess the changes underway and adjust their
business models to meet shifting market dynamics and customer demands can establish significant leads
over both traditional competitors and new entrants. For as long as we know, a great foundation in the e-
business can make a country’s long-term goal a fruition.