ONLINE COMMERCE AND ITS INFLUENCE ON BUSINESS PERFORMANCE IN A BUSINESS TO BUSINESS ENVIRONMENT
- Project Research
- 1-5 Chapters
- Quantitative
- Mean and Standard Deviation
- Abstract : Available
- Table of Content: Available
- Reference Style: APA
- Recommended for : Student Researchers
- NGN 5000
BACKGROUND OF THE STUDY
The creation of products and services, as well as their distribution, promotion, sale, or delivery, are all considered to be under the purview of online commerce (Okiy, 2021). "Online commerce" is defined as "the purchasing and selling of items, services, and information over computer networks," as stated by Niehans (2021). According to Okiy (2021), e-commerce also includes the formation of a legally binding contract between the buyer and the seller, as well as the fulfillment of the terms of that contract through the purchase of products and services using digital payment methods.
Omolo (2021) gives several factors as benefits of conducting commerce online.
This includes cheap transaction costs, customer service that offers a favorable image of the company, and increased visibility; to improve customer service, enabling market development; lower stakeholder communication costs through on-line transactions and information sharing; and to boost visibility. The purpose of this study is therefore to explore the influence of business-to-business online commerce on corporate performance (Niehans, 2021).
1.2 Statement Of The Problem
The World Trade Organization (WTO) provides a definition of online commerce as the electronic means of production, distribution, marketing, sale or delivery of goods and services .According to (Baker & McKenzie 2001 cited Kaynak et al 2005). Shultz & Baumgartner (2001) online commerce is viewed as the buying and selling of products, services and information via computer networks”. Globerman et al (2001 cited Kaynak et al 2005) also states that ecommerce involves the contractual agreement between the buyer and the seller and conclusion of that agreement through the payment of goods and services via the electronic means
Watson et al. (1998) provides reasons as benefit of online commerce .This include low transaction cost, customer service which provides good image of the firm, and increase visibility; to improve customer service, enable market expansion; reduced stakeholder communication costs through on-line transactions and information distribution
The current trend in global trade and commerce show the increasing use of online commerce to increase sales globally; however there is also an increase in competition by larger firms’ .Brand Loyalty is also decreasing as customers can readily switch their buying pattern. Low Average Order Values. It often takes several days to locate the ideal product after intensive search. Many ecommerce solutions lack personalization, some are mechanical, and devoid of 'intelligence ‘and ‘understanding’ Large firms requires. good numbers of consumers requires a more personalized, assisted, shopping experience, which many cannot provide.
Therefore the problem confronting this research is to determine influence of online commerce on business performance in a business to business environment.
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