E-commerce

With adoption of technology in business, operations are running smoothly thus benefiting almost everybody (Bijan Fazlollahi. 2002). Electronic commerce has such benefits like banking or shopping any time and anywhere and elimination of middlemen. Sellers are also able to advertise their products easily through the internet targeting the right customers. In a nut shell electronic commerce or technology in business benefits both the sellers and the buyers.

Gold peak industries is a multinational company which concentrates on new product development and business to business electronic commerce in more than ten countries. The company aims at providing quality product and services to the customers, and also ensures that reliable and value added services are delivered to the customers. Gold peek industries use the latest technology so as to develop the latest products which will be competitive in the market and will result to customers being loyal and establishment of long-term relationship. The company uses technology to make sure that significant information is available to the customers like the production status of the company and shipment, the company profile, product catalogue, account summary and also the sales made. The company has developed ecommerce sites which are used as marketing tools for the company (Bijan Fazlollahi.2002).

On the other hand the company has some short falls in its operations because it is experiencing the problem of getting the right manpower since it is hard to get a person experienced in information technology and at the same time has industrial know how. The other problem experienced is that online banking services cannot be conducted in Hong Kong because the banking services are not comprehensive enough. The business also experienced a technical problem with the electronic system which was developed with an online payment feature and thus due to this problem it the online payment was scrap. Development of local business to customer businesses was inhibited because there was lack of maximum liability to support credit card transactions.

The companys aim is to gain a competitive edge in the market and for this reason it should concentrate on it strengths and at the same time work towards ironing out its weaknesses. It should make sure that the customers get the best value added products and services so that it will build a good brand name which will make the customers to be loyal, give the company a competitive edge and at the same time earn more profits. In order for the company also to get the right manpower it should train the employees to make them conversant with both information technology and industrial know how.

The company should adopt the electronic commerce wallet which is a payment method that helps in managing payment instruments. It helps the businesses or consumers to pay online accurately and conveniently (Bijan Fazlollahi.2002). This is done by storing the users debit or credit card, electronic cheque and addresses securely in the wallet for use. By use of electronic wallet online purchasing of goods and services has been made possible. The company should also adopt a good robust infrastructure system for finance and technology so that it will compete effectively in electronic business industry. In order also for the company to ensure online banking which is a success factor to many businesses, it should make sure that it has maximum liability.

In conclusion, the above information analyses the gold peak industries giving the strengths and weaknesses of the industries. The information also gives recommendations on the right marketing strategies and technology to be adopted to make the company have a competitive edge in the market.