UPSC Exam > UPSC Notes > Management Optional Notes for UPSC > Global e-Business
Global e-Business | Management Optional Notes for UPSC PDF Download
Introduction
- Communication technologies have advanced significantly since the last decade of the twentieth century, accelerating the process of globalization. Currently, most nations are well-prepared for the electronic economy and the establishment of e-business infrastructure. It's crucial for different countries to formulate specialized e-business strategies that leverage their unique capabilities, resources, and geographic positions. There's a need for diverse models to construct e-business infrastructure and engage in global e-commerce.
- The growth of global e-business is rapid, with several trillion dollars exchanged annually over the internet. Companies need to evaluate global markets and expand their online presence not only in developed countries but also in emerging economies like China, Brazil, and India to harness the potential of global e-business technology. Companies can either proactively seize global e-business opportunities and benefit from e-commerce or adopt a protective approach against new global competition that poses a threat to their business.
- As e-business becomes more widespread, domestic businesses will increasingly feel the pressure of international competition. E-business provides companies with a platform to compete on a universal level, intensifying the competition in the global market.
Internet as a Game-Changer:
- The combination of telecommunications and computer technology led to the creation of the internet.
- It's a significant development in business, often seen as an example of ecological business growth.
Internet's Impact:
- The internet has become a crucial technology, drawing attention from academics, entrepreneurs, businesses, and investors.
- E-commerce, conducted through the internet, is transforming the business environment and causing significant changes.
Information Age Transformation:
- The information age, marked by the rise of the internet, has forced companies to rethink their organizational models for managing business.
Organizational Ecology:
- Organizational ecologists, like Hannan and Freeman, have emphasized that environmental pressures strongly influence how successful an organization is in terms of its structure, function, and overall strategy.
E-commerce Growth:
- Examining the growth of e-commerce on the internet provides a unique opportunity to understand how a business sector evolves rapidly.
- Internet technology, including e-commerce, offers global companies the chance to create distinct strategic advantages.
Global E-commerce Definition:
- Global e-commerce involves using electronic networks to reach global markets.
- It encompasses various types of transactions like business-to-business (B2B), business-to-consumer (B2C), consumer-to-consumer (C2C), business-to-government (B2G), and other mixed forms of transactions.
Question for Global e-BusinessTry yourself: What is the impact of the internet on the business environment?View Solution
Theoretical Research on Global E Business
Impact of Globalization on Business Strategies:
- Traditionally, globalization led companies to expand and sell the same product with similar strategies worldwide.
- With internet advancements, organizations can now successfully sell globally by adapting their websites to be accessible to diverse customers.
Website Localization Essentials:
- To make a website effective globally, it needs to be adapted linguistically, racially, and in various other ways for a global audience.
- Localization involves considering factors like language, design, culture, customs, symbols, currency, and more in web design.
Evolution of Localization Industry:
- Within a decade, an industry has emerged to help companies design localized multilingual websites and software for diverse cultures.
- This industry also assists companies in navigating international challenges related to legal and logistical issues.
E-commerce and Organizational Change:
- Global e-commerce, influenced by the internet, has led to organizational changes in how businesses operate.
- The paper by Singh, Alhorr, and Kim introduces the concept of "adaptive strategies" in international e-commerce, addressing the debate between localization and standardization.
Cultural Congruency in Websites:
- Vyncke and Brengman's study reviews the impact of cultural congruency on the efficacy of international websites.
- It explores whether creating culturally harmonious websites is essential for successfully reaching diverse target countries.
Information Ecology Perspective:
- Zhu and Thatcher study global e-commerce development from an information ecology viewpoint.
- Their research highlights the influence of national information ecology on a country's e-commerce adoption at different stages of development.
Institutional Theory and E-commerce:
- Martinez and Williams analyze e-commerce development in different nations based on economic institutional theory and entrepreneurship theory.
- Their findings support the idea that strong legal, political, and socio-economic institutions positively influence a country's access to e-commerce technologies.
Importance of Website Localization:
- Research suggests that companies must develop localized international websites to effectively communicate and sell to online viewers globally.
- Website localization involves adapting websites to meet the linguistic, cultural, and other requirements of the target market.
Global E-business Strategic Factor Markets:
- The web provides access to global resources through international e-business strategic factor markets.
- These markets offer information-rich, knowledge-oriented, and intangible resources, categorized into internet-based, alliance-based, and location-based strategic factor markets.
Global online business environmentIn 2014, global e-commerce experienced significant growth due to the intertwining of consumer preferences worldwide and the emphasis on providing a personalized shopping experience. Notably, China emerged as a key player in this landscape, with consumers spending a substantial $213 billion online in 2012, positioning the country to potentially outspend the United States in the near future.
Bain & Company's findings over the past three years revealed a doubling of digital purchases from overseas, indicating a rising demand for foreign products. Interestingly, while the desire for international goods is evident, Chinese consumers still prefer a local e-commerce experience. To effectively compete in this dynamic market, companies are advised to localize aspects such as payment methods, currency support, and marketing campaigns to align with local preferences. In the realm of global e-business, firms employ diverse transaction approaches, including hierarchical forms, market forms, and hybrid forms. In the hybrid model, companies establish long-term partnerships and joint ventures with local firms, allowing them to navigate the global market successfully. The key to the success of globally competing firms lies in their ability to adapt and address local market nuances effectively.
Continuum of market and hierarchy
Benefits of E-business Strategy:
- E-business strategies help companies develop cost-effective communication and marketing plans.
- Having an online presence becomes central to communication and marketing efforts in an upgraded e-business environment.
Web Presence and Global Access:
- E-business provides companies with a vital web presence, allowing them to communicate and market effectively.
- The internet offers powerful ways to access global markets and precisely target customers.
Lower Initial Investment:
- Adopting e-business is advantageous for entrepreneurs as the initial investment is typically lower than traditional business models.
- It makes communication and transactions faster and more cost-effective through email and online ordering systems.
Changing International Selling Trends:
- Global e-business has transformed the way companies sell internationally.
- Challenges in global e-business are linked to cultural, economic, infrastructure, and political regulatory factors.
Challenges in Global E-business:
- Challenges include cultural barriers, language differences, shopping habits, and the use of credit cards.
- Organizations face difficulties in web localization efforts, geopolitical uncertainties, and a lack of professionally trained workforce.
Online Challenges for International Sales:
- Managing multiple languages, local currency transactions, customer support, shipping, legal issues, and technical aspects are challenges in international e-commerce.
- Compliance with complex regulations for global trade management is crucial for financial success.
Strategies for Global E-business Success:
- The web benefits the industry, and companies launch e-business processes to attract international customers and increase sales.
- Successful global e-business expansion requires organizations to understand and replicate processes for effective website globalization management.
Global Dynamic Capabilities:
- Global dynamic capabilities help companies adapt internal processes to respond effectively to the global business environment.
- To attract a global audience, e-businesses need strategies for exploring new markets, utilizing social media, and creating valuable content.
Internet Strategies for Consumer Reach:
- Utilizing the internet for strategies like selling discounted stock and exploring new target markets is advisable.
- Building a global audience involves using social media and content to establish healthy relationships with consumers worldwide.
Question for Global e-BusinessTry yourself: What is the main benefit of adopting e-business strategies?View Solution
The document Global e-Business | Management Optional Notes for UPSC is a part of the UPSC Course Management Optional Notes for UPSC.
All you need of UPSC at this link: UPSC
FAQs on Global e-Business - Management Optional Notes for UPSC
| 1. What is global e-business? |  |
Ans. Global e-business refers to the conduct of business activities electronically on a global scale. It involves the buying and selling of goods and services over the internet or other electronic networks, enabling businesses to reach a global audience and engage in transactions across borders.
| 2. How does global e-business impact traditional brick-and-mortar businesses? | |
Ans. Global e-business has a significant impact on traditional brick-and-mortar businesses. It has led to increased competition as online businesses can reach a wider customer base and offer competitive prices. Brick-and-mortar businesses need to adapt by establishing an online presence, enhancing their customer experience, and leveraging technology to stay relevant in the global marketplace.
| 3. What are the advantages of global e-business? | |
Ans. Global e-business offers several advantages, including:
- Expanded reach: Businesses can reach a global audience and tap into new markets.
- Cost-effective: Online operations often require lower overhead costs compared to traditional brick-and-mortar businesses.
- Increased accessibility: Customers can access products and services from anywhere at any time.
- Enhanced customer experience: E-commerce platforms enable personalized and convenient shopping experiences.
- Data-driven decision-making: Global e-business allows businesses to collect and analyze customer data, enabling better decision-making and targeted marketing.
| 4. What are the challenges faced by global e-businesses? | |
Ans. Global e-businesses face various challenges, such as:
- Cultural and language barriers: Operating in different countries requires understanding and adapting to different cultures and languages.
- Legal and regulatory compliance: Businesses must comply with international laws and regulations governing e-commerce, data protection, and consumer rights.
- Logistics and supply chain management: Efficiently managing global shipping and supply chains can be complex and costly.
- Cybersecurity risks: E-businesses are susceptible to cyber threats, including data breaches and online fraud.
- Payment and currency issues: Dealing with multiple currencies and ensuring secure online transactions can be challenging.
| 5. How can businesses overcome the challenges of global e-business? | |
Ans. Businesses can overcome the challenges of global e-business through various strategies:
- Market research and localization: Understanding the target market's culture, preferences, and language helps tailor products and marketing strategies accordingly.
- Partnering with local experts: Collaborating with local partners or hiring experts familiar with the target market can facilitate compliance with local laws and regulations.
- Investing in cybersecurity measures: Implementing robust cybersecurity measures, such as encryption, firewalls, and regular security audits, helps protect against cyber threats.
- Building strong logistics and supply chain networks: Developing efficient shipping and supply chain management systems, including partnerships with reliable logistics providers, streamlines global operations.
- Offering secure payment options: Utilizing secure payment gateways and providing multiple currency options to customers ensures smooth and secure online transactions.
Related Exams
About this Document
|
Oct 31, 2024 Last updated |
Document Description: Global e-Business for UPSC 2024 is part of Management Optional Notes for UPSC preparation.
The notes and questions for Global e-Business have been prepared according to the UPSC exam syllabus. Information about Global e-Business covers topics
like Introduction and Global e-Business Example, for UPSC 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises and tests below for Global e-Business.
Introduction of Global e-Business in English is available as part of our Management Optional Notes for UPSC
for UPSC & Global e-Business in Hindi for Management Optional Notes for UPSC course.
Download more important topics related with notes, lectures and mock test series for UPSC
Exam by signing up for free. UPSC: Global e-Business | Management Optional Notes for UPSC
Description
Full syllabus notes, lecture & questions for Global e-Business | Management Optional Notes for UPSC - UPSC | Plus excerises question with solution to help you revise complete syllabus for Management Optional Notes for UPSC | Best notes, free PDF download
Information about Global e-Business
In this doc you can find the meaning of Global e-Business defined & explained in the simplest way possible. Besides explaining types of
Global e-Business theory, EduRev gives you an ample number of questions to practice Global e-Business tests, examples and also practice UPSC
tests
|
Explore Courses for UPSC exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
Related Searches
Global e-Business | Management Optional Notes for UPSC
,Important questions
,mock tests for examination
,study material
,Global e-Business | Management Optional Notes for UPSC
,Summary
,Objective type Questions
,Global e-Business | Management Optional Notes for UPSC
,video lectures
,ppt
,Sample Paper
,Extra Questions
,Semester Notes
,MCQs
,practice quizzes
,past year papers
,Viva Questions
,Previous Year Questions with Solutions
,Exam
,Free
,shortcuts and tricks
,
Additional Information about Global e-Business for UPSC Preparation
Global e-Business Free PDF Download
The Global e-Business is an invaluable resource that delves deep into the core of the UPSC exam.
These study notes are curated by experts and cover all the essential topics and concepts, making your preparation more efficient and effective.
With the help of these notes, you can grasp complex subjects quickly, revise important points easily,
and reinforce your understanding of key concepts. The study notes are presented in a concise and easy-to-understand manner,
allowing you to optimize your learning process. Whether you're looking for best-recommended books, sample papers, study material,
or toppers' notes, this PDF has got you covered. Download the Global e-Business now and kickstart your journey towards success in the UPSC exam.
Importance of Global e-Business
The importance of Global e-Business cannot be overstated, especially for UPSC aspirants.
This document holds the key to success in the UPSC exam.
It offers a detailed understanding of the concept, providing invaluable insights into the topic.
By knowing the concepts well in advance, students can plan their preparation effectively.
Utilize this indispensable guide for a well-rounded preparation and achieve your desired results.
Global e-Business Notes
Global e-Business Notes offer in-depth insights into the specific topic to help you master it with ease.
This comprehensive document covers all aspects related to Global e-Business.
It includes detailed information about the exam syllabus, recommended books, and study materials for a well-rounded preparation.
Practice papers and question papers enable you to assess your progress effectively.
Additionally, the paper analysis provides valuable tips for tackling the exam strategically.
Access to Toppers' notes gives you an edge in understanding complex concepts.
Whether you're a beginner or aiming for advanced proficiency, Global e-Business Notes on EduRev are your ultimate resource for success.
Global e-Business UPSC Questions
The "Global e-Business UPSC Questions" guide is a valuable resource for all aspiring students preparing for the
UPSC exam. It focuses on providing a wide range of practice questions to help students gauge
their understanding of the exam topics. These questions cover the entire syllabus, ensuring comprehensive preparation.
The guide includes previous years' question papers for students to familiarize themselves with the exam's format and difficulty level.
Additionally, it offers subject-specific question banks, allowing students to focus on weak areas and improve their performance.
Study Global e-Business on the App
Students of UPSC can study Global e-Business alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the Global e-Business,
students can also utilize the EduRev App for other study materials such as previous year question papers, syllabus, important questions, etc.
The EduRev App will make your learning easier as you can access it from anywhere you want.
The content of Global e-Business is prepared as per the latest UPSC syllabus.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup