E-commerce trust building

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E Commerce trust
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Assume that you have a virtual company. How would you go about building trust through E-commerce? Support your rationale with examples of action steps.

Write up your rationale and action steps in a Word document

There has been tremendous impact of e-Business on the typical businesses. The information is exchanged much more quickly than any other thing which is helping the organizations to make more quick and accurate decisions.

Challenges

There are issues of diverse cultures and languages; legal and regulatory differences; localization, technology and infrastructure. Moreover the markets are flooded with various products. Various options are available for end customers to switch loyalties. Hence the product life cycles are considerably shorter. Shorter product life cycles have denied companies the sustained growth and financial benefits and posed a challenge of survival to many others.
Thus the survival of many organizations is at stake. Another issue is of privacy and security. The most important challenge that e-commerce face is the ability to guarantee customers' privacy and safety when doing transactions online. Thus the major worries encountered in electronic commerce transactions are that of data protection, data authenticity and taxation.
Another worry is to manage cultural barriers and differences of beliefs, ideas, norms and values that shape peoples' lives. The challenge is to find the common ground between cultures on which to build and market their products.
The ethical processes of providing safe and secure medium of enabling the transactions are key to the success of business website. . The other Security Issues such as Firewalls, viruses, hacking, site ...