ASSIGNMENT ONE – ASSESSMENT TASK ONEQuestion 1:Description of smart cardThe smart card integrates the plastic card, which is similar to the credit card in size, with the microprocessor and memory. It provides authentication and security function to secure the security area isolated from the external environment. The role of authentication and security draws much attention since it meets up with requirements of e-commerce that is explosively expanding. The smart card can be grouped into a contact type and non-contact type according to that of external interface. The contact type fits into the application of transaction authorization and electronic signature, which processes relatively large amount of data with emphasis on security, whereas the non-contact type is suitable for application of transportation and distribution that are limited by the processing time. Additionally, it is mass-manufactured as the combi-smart card that these two interfaces are controlled by a single microprocess of paper cheques, by using cryptographic signatures and secure messaging over the Internet. The electronic cheque system is designed with message integrity, authentication and non-repudiation properties sufficient to prevent fraud against the banks and their customers. It is compatible with either interactive web transactions or with electronic mail. Since the electronic cheque does not depend on real-time interactions or on third party authorizations, electronic cheques are better able to survive outages of network links and computing nodes.The result is a highly efficient electronic payments system, with a technology base that is extensible to a variety of financial instruments and other high-integrity document processing applications needed by the financial industry.Parties involvedBuyers must register with a third-party account server before they are able to write electronic cheques. The account server also acts as a billing service. The registration procedure can vary depending er.) Also, many customers want to use a credit & debit card to get all the attractions their bank may be offering, like free air miles, rebates towards gifts, or other bonuses.No Benefit Of DoubtMany customers may not ask if the business does accept credit & debit cards because they automatically assume that you do not, unless the business displays the credit & debit card logos. If they are among the 30% of customers who only purchase using their credit & debit cards, the business has automatically lost their sale.CredibilityProspects will think of the business as a creditable and a well-established business, when they see the business accept major credit & debit cards in advertisements. Everyone assumes that only established companies can accept credit & debit cards. The credit & debit card companies do such an excellent job of promoting the use of credit & debit cards and you benefit by accepting them.By displaying the Visa and MasterCard logos in your ads or on your WWW pages, you cged, delayed or never delivered at all. It could also delivered to wrong place or person. Many consumers actually receive damaged goods or never receive anything at all, although they keep on reminding to the seller or business which consumers order it from. Usually the business or seller try to avoid regardless consumers’ demand for exchange or re-delivery for the damage goods.* QualityConsumers are often looking for the brand that they prefer to purchase and use usually. Sometimes it is hard to recognise for that particular items, whether those items are their favorite or not in a shopping site. To identify correct and more detail of the goods, it has to be tangible right front of them.In the other hand, possibly consumers might receive slightly different brand or totally different from what they have seen in the Internet. Consumers want their order is high quality and right brand.* Service/ClaimsBusiness should provide full service to customer for after they sell goods and customer that are safe, convenient and widely accepted. The key is figure out which choices work the best for your company and for your customers. You will have to make some choices and choose the best one or two solutions for your situation and budget. All the preceding electronic payment methods work well for web commerce sites.B2B transactions almost always use different ways to invoice and pay for materials and service. Typically business-trading partners use their own virtual private network, extranet network and electronic data interchange (EDI) to exchange documents and electronic accounting documents with each other.Credit cards work even the cardholder’s bank is different from the your company bank. This simple and perhaps obvious fact makes commerce much easier and is in contrast to cheques. A cheque drawn on a faraway bank is less likely to be accepted than a local cheque.You need to recognize that credit cards have become the most common means for customers to pay for goals and serv １１
ASSIGHMENT TWO – ASSESSMENT TASK TWO AND THREEQuestion 1:(a) Draw and clearly label a diagram representing the business chain for your organization. Figure 1miner mines irons iron foundry ironware (import trader) - provide selection of steelsconstruction Lotus Engineeringcompany - construction, maintenance, mining,and mineral processing Figure 2Current value chain (traditional)Identification Design Purchase martialsof customers (research, engineering, (procurement activities)(take orders from exist customers, activities that take a productfind new customers) from concept to manufacturing)Deliver Marketing and sales Manufacture(delivering goods, storing, (pricing, advertising, sales) (construction, welding)warehousing)After service support(maintenance customer relationship)(b) Analyse the impact that e-commerce could have the value chain for this organization.Naturally, a business would be much easier to control and would be efficient by employing e-commerce. The business supply chain accomplishments. Just by clicking, construction company will be able to obtain the information about Lotus Engineering. This means the reduction of costs of advertisement and promotion for Lotus Engineering.The impact of electronic commerce is more than just enjoying the benefits from the cost reduction and all the conveniences. As pointed out by Greinstein & Feinman, “The traditional Value Chain typically depicts the information system data as flowing sequentially through the processes with inputs/outputs to the supplier at the back-end stage and to the customer at the front-end stage. In reality, firms engaging in electronic commerce may share information with their customers and suppliers at many stages of the value chain.” (2000,p.4.4) This means the new value chain will be customer-oriented. The customers will be able to access the firm’s information system at anytime to check their order and see how it is progressing. Lotus engineering engaging in electronic commerce is displayedalsCustomer(constructioncompany)Deliver ManufactureSales and marketing Customer-orientedValue chainQuestion 2:(a) Describe disintermediation and re-intermediation, giving an example of each.< Disintermediation>Disintermediation refers to cutting out the middlemen in e-commerce transactions. The trend towards direct interaction between consumers and producers, which reduces or eliminates the need for intermediaries such as wholesalers, retailers, brokers, and agents.The gradual removal of layers of content brokering and intermediation - mainly in manufacturing marketing - is the continuation of a long term trend. Consider music for instance. Streaming audio on the internet ("soft radio"), or downloadable MP3 files may render the CD obsolete - but they were preceded by radio music broadcasts. But the novelty is that the Internet provides a venue for the marketing of niche products and reduces the barriers to entry previously imposed by the need to invest in costly "branding" campaigns aned of Web middleman will rise to make sense out of the chaos bought by disintermediation.A key insight of our work is that the real interest today relative to the general phenomenon on intermediation on the Internet is no longer centered on disintermediation, where traditional players have been thrust aside. As the reader can see from the prior table, the research literature in this area is to the point that it defines, describes and explains disintermediation, so that both academic researchers and industry observers recognize the hallmarks of those situations in which disintermediation is the predicted or observed outcome in the marketplace. Of greater interest today, and far less well understood is the phenomenon of reintermediation.The term “reintermediation” was first coined to describe a move from new financial services intermediaries (such as brokers) back to traditional intermediaries (such as banks), but Negroponte also has used it to describe the fight of traditional middlemen as both the supplier and the consumer. Lotus Engineering likes to pursue better quality inventories at a cheaper price. Without going through intermediaries, Lotus Engineering can go straight to the iron foundry and try a deal. This will reduce the cost and save time on Lotus Engineering’s part. On the other hand, disintermediation is impossible between the construction companies and Lotus Engineering. This is because Lotus Engineering is a business in which the actual welding of steel and pipes to construct buildings are performed. Without Lotus Engineering, the construction company will not be able to get iron frames or other materials required in the building constructions from either the distributors or the iron foundry. Lotus Engineering plays a vital role to the construction companies.Re-intermediationAs companies usually incorporate with other buyers, sellers and companies and other partners in a traditional supply chain in new ways to create new channel of supply (circulation E 12
ASSIGNMENT ONE – ASSETMENT TASK ONEQuestion 1:Identify new opportunities and capabilities provided by the Internet and through other format of electronic commerce.It can be distinguished two points of view when the Internet and other form of electronic commerce provide opportunities and capabilities. I classified that as consumers and business point of view.Business provides customer support for 24 hours a day, 7 days a week even raining, snowing or traffic jam which means no restriction of time and place. The netizen(Internet user) all over the world can be customers. So business is able to research new customers and do better focusing on meeting customer’s need.Business of all sizes can lower cost and increase revenue by using the Internet. In the concrete, business can save cost for rent, intermediaries, retailer, reducing paper works and employer. For example, Amazon.com, which is the biggest bookshop in the Internet. There are few inventory, workers and space for inventory managemting up a system further in order to activate electronic commerce though TV and mobile phone, not only business dealing or transactions by using a computer.Question 3:Analyze the impact that electronic commerce is having, and is likely to have, on banking and finance:The speed of spreading the Internet is beyond the imagination and it is hard to find that this world has been changed very quickly for a short period in history. In the financial business such as bank, stock and insurance, the high-tech business, which provide service without branches or call center shows up. It means that the border with a high-tech business and a financial agency is disappearing. Customers can deal in stock, loan out and open an account through the Internet. Moreover customers can calculate a suitable premium then insure using the mouse click. Now people don’t need to stand in a long queue in a bank or other financial agencies.However it is still confusing that how far progress and what the goal of finanuction, maintenance, oil and gas, mining and mineral processing industries, with the primary objective to supply cost effective and experienced services in the industry. Lotus Engineering has many years experience through is management and highly skilled tradesmen. Having various trades people on hand such as: Coded Welders, Pipe Fitters, Mechanical Fitters, Boilermakers, Riggers/Scaffolders and Trades Assistants, we also provide labour hire in these areas.Lotus Engineering is located at 14 Morgan St Rockingham (formerly World Services Premises). The workshop covers an area of 2,100 M2 of covered and enclosed floor and storage areas, comprising 2 bays as follows:Main Bay: Dimension 66m long, 28m wide x 11m high, complete with concrete floor and storage areas, 2 x 5 tonne overhead cranes running the full length of the buildingSide Bay: Dimension 45m long, 9m wide x 6m high, complete with concrete floor, this bay can be separated by sliding doors for stainless steel fabrication.(I have j attracted to the company. It is very important means to secure the customers for their own.It coasts a lot of capital for setting up such a system listed above. However it can be a major way to attract the customers. Besides, it has a big meaningful as a channel that is connected to the customer. A faithful answer for a inquiry raise the standard in trust of the company and it is possible to exchange to opinions by sharing opinions in a open space.It can be expected great effects in taking a side view of economy. It is not easy to meet or communicate often between the company and customers, because the company is located in Rockingham. If the payment, estimate and ordering, etc are possible to deal in online, the both company and customers are able to save time, money and paper works.The electronic commerce needs for all kind of business as above, not only for general business like home shopping site. This is one of example of B2B.Question 4:What impact is electronic commerce likely ty to buy products and services from web sites in their own language, although they can read and understand English well. Using their own language is so convenience to dealing and finding out information rather than any other languages. Some of firms are already provide web page translation services for companies include Alis Technologies, Berlitz, Geonexus, Rubric, Ltd. and Worldpoint Interactive. By automating the process, companies can reduce the cost of maintaining multiple language web site. It is good example that Europages homepage includes identifiable links to pages in German, English, Spanish, French, Italian, and Dutch. The home page should have versions in all supported languages, as should all first-level links to the homepage.Depending on subtle language and cultural standards bring wrong idea to customer. For example Pepsi’s “Come alive” advertising failed in China. Because its massage come across as “Pepsi brings your ancestors back from their graves.” Some country like
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