Economics
1. Discuss the critical success factors for the implementation of b2b exchange (271)
The critical success factors for the implementation of b2b exchanges are early liquidity, the right owners, the right governance, openness and a full range of services.
Liquidity meant the number of participants and the transaction volume. Early liquidity meant the earlier a business achieves the necessary liquidity level, the better its chances for survival. When they have more buyers to trade, more suppliers will come which will increase liquidity.
Having the right owners are also one of the ways to increase liquidity as they will partner up with companies that can bring liquidity to the exchange.
The right governance is also important as good management, effective operations and rules are critical to success. It provides the rules for the exchange, minimize conflicts, and supports decision making. It also reduces conflicts between owners and participants.
The factor of openness must be implemented as exchanges must be open to all, from both organizational and technological perspectives. Using the wrong standards may hurt the exchange.
Lastly, a success factor for exchanges is to have a full range of services. Buyers and sellers are interested in cutting their total costs. Therefore, exchanges that help cut inventory costs, spoilage, maverick buying, and so on, will attract participants. Many exchanges team up with banks, logistics services and IT companies to provide support services.
2. Define m-commerce & discuss at least six drivers of m-commerce
Mobile commerce or M-commerce that’s also known as m-business is defined as ‘any e-commerce done in a wireless environment, especially through the internet’. It is a natural extension to the e-business and it gives mobile devices an opportunity to create and deliver new services to existing customers plus attracting new ones. The six drivers of m-commerce are the widespread of
The critical success factors for the implementation of b2b exchanges are early liquidity, the right owners, the right governance, openness and a full range of services.
Liquidity meant the number of participants and the transaction volume. Early liquidity meant the earlier a business achieves the necessary liquidity level, the better its chances for survival. When they have more buyers to trade, more suppliers will come which will increase liquidity.
Having the right owners are also one of the ways to increase liquidity as they will partner up with companies that can bring liquidity to the exchange.
The right governance is also important as good management, effective operations and rules are critical to success. It provides the rules for the exchange, minimize conflicts, and supports decision making. It also reduces conflicts between owners and participants.
The factor of openness must be implemented as exchanges must be open to all, from both organizational and technological perspectives. Using the wrong standards may hurt the exchange.
Lastly, a success factor for exchanges is to have a full range of services. Buyers and sellers are interested in cutting their total costs. Therefore, exchanges that help cut inventory costs, spoilage, maverick buying, and so on, will attract participants. Many exchanges team up with banks, logistics services and IT companies to provide support services.
2. Define m-commerce & discuss at least six drivers of m-commerce
Mobile commerce or M-commerce that’s also known as m-business is defined as ‘any e-commerce done in a wireless environment, especially through the internet’. It is a natural extension to the e-business and it gives mobile devices an opportunity to create and deliver new services to existing customers plus attracting new ones. The six drivers of m-commerce are the widespread of