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Online professor's response to: E-commerce

Overview of Question: Please give comprehensive responses.

Resources: Provide information that supports your answer. Show where information came from.

Give a Real World Example: Give examples that complement your question responses using personal, work experiences, or something you read or heard in the media.
All the elements must be present in each question response. Also, please present your element 3 examples in a separate paragraph and label that paragraph for example Overview, Resources, and Examples.

Questions:
1. What are the benefits and liabilities around e-auctions?
2. When dealing with internet fraud, how can e-commerce improve the transaction trust model?
3. What is meant by Internet Security as applies to E-Commerce?
4. What are the standards for securing e-commerce networks?
5. What are the benefits and liabilities using payment cards on line.
6. What is meant by order fulfillment and Logistics?

Solution Preview

1. What are the benefits and liabilities around e-auctions?

Overview: The concept of e-auctions was revolutionized by the world's largest auction portal Ebay. Today, e-auctions are being increasingly used by online shoppers around the world for purchasing small products and even bigger and expensive products like cars.

The primary benefits is the convenience and flexibility offered by online auction portals as compared to traditional auctions. Consumers and bidders can sit at home and bid for their favorite products and can easily track the progress as per their own flexibility.

Some of the benefits to sellers:

Increased revenues
Optimal price setting
Removal of expensive intermediaries
Better customer relationships
Liquidation
Lower transaction costs
Lower administrative cost

Benefits to buyers :

Opportunities to find unique items and collectibles
Chance to pay less
Entertainment
Anonymity
Convenience

Benefits to e-auctioneers:

Higher repeat purchases
A stickier Web site
Expansion of the auction business

Some of the Limitations/disadvantages or liabilities of e-auctions:

Possibility of fraud: It is easier for sellers to commit fraud as buyers do not see the product before hand and can get a defective product after the auction.

Limited participation: Some auctions are by invitation only, whereas others are open to dealers only.

Security: Sites conducting auctions may not be secure enough to conduct transactions.

Virtual view of the product being auctioned, unlike traditional auctions where people can see the product in real.

Resources:
http://utminers.utep.edu/mmahmood/cis5340ec/PPTs/EC2004_ch11.ppt.
http://myphliputil.pearsoncmg.com/student/bp_turban_introec_1/Turban-Appendix2A.pdf.

2. When dealing with internet fraud, how can e-commerce improve the transaction trust model?

Overview:

E-commerce can improve the transaction trust model by implementing highest quality security hardware and software in order to avoid internet frauds, leakage or theft of confidential data and thus providing utmost security for transactions conducted over the web. E-commerce should invest in best possible security measures and should not neglect any security related issues.

Organization should clearly display its privacy and security related policies and other disclaimers on its portal so that customers can view them and ensure themselves about the security of transactions being conducted over the site.

Resources: No external resources have been used for this part.

3. What is meant by Internet Security as applies to E-Commerce?

Overview:

Internet security in terms of ecommerce is concerned with security of transactions conducted over the web and security and privacy of confidential information being provided by the customers over the web, such as personal and financial information. In other words, internet security is concerned with making it sure that the transactions conducted over an ecommerce web portal is secure ...

Solution Summary

Give a Real World Example: Give examples that complement your question responses using personal, work experiences, or something you read or heard in the media.

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