Developing a Business Website
Developing a Business Website Simulation Analysis
Developing a business website is a much more complex task than simply buying some servers and hosting a site. There are a variety of issues that arise that must be addressed in order to ensure that your website is not only functional but is actually of use to your customer to differentiate yourself from the competition. In the world of online trading the vendor must consider how the features of the site are generated, offering free or “pay for” services, and determining the functionalities that the customer will require. In working with the company budget, Primus Securities will need to make specific decisions about the site’s features and
…show more content…
The staff can be used to implement both the stock-ticker and portfolio tracker features. The customers for online trading require current information and I found the NYSE feed with 1-minute delay to be the best alternative for the options presented. Although there are added recurring cost compared to a longer delay, these costs are half of the real-time offering from Quote.com and a 1-minute should be a short enough time-window to satisfy a majority of the market. The next feature selected as New & Views in which I opted to outsource based on the recurring cost savings. I found that the portfolio tracker was more useful feature than the newsletter. Although the newsletter could provide useful information to consumers, the portfolio tracker would allow the customer to monitor their individual portfolio which would be perceived as added value to customers. Another benefit of the portfolio tracker is that the existing staff that was hired to implement the stock ticker could be used. This hired staff presents a form of economies of scale to Primus since they can be used for a variety of different support and enhancement projects and the company pays the same level of salary. By opting for shared hosting, Primus would still be able to offer a safe, private online experience to its customers while saving funds which could then be allocated towards future enhancements.
For On-The Go information, I
We recommend investing in the Web-Based Customer Portal. The expected high financial rewards with net present value of $346K and 41% IRR within five years (see Exhibit 1) are the main motivators. Based on our market research, we believe the high revenue would come from an expanded customer base, increased order frequency/size and reduced costs. Going beyond the financial rewards, the strategic impact of the project is not only to increase our penetration rate and customer service quality in the short run, but also to enhance
Tony’s Chips needs to understand its business requirements and organizational goals before building a Web architecture that includes functions such as serving as the back-up site and evaluating alternatives to the company self-hosting site. Tony’s Chips must employ qualified and knowledgeable information technology (IT) staff to manage its Web architecture. In addition, the IT staff needs to integrate past and current experiences, skills, and knowledge in order to successfully plan, implement, and evaluate for the Web architecture. Tony’s Chips needs to consider hiring consultants who can provide its workers with training and development for the implementation of its project. Training and development are necessary for many purposes such as maintaining or gaining a competitive advantage over its competitors (Nelson, 2010). The project should be developed on a modular manner to test the functional elements of the website.
Creating different avenues of income can become beneficial to any business. It is never easy to try and improve proven business processes; however, with the technological world changing rapidly, it can be easy for a company to fall behind the competition. The web has seen drastic changes over the years from static websites to those now which are responsive. Web development and design is difficult to differentiate from one company to another and the goal is to get and keep clients. This necessitates the need to try and make the most of the company’s work.
While ABC maintains a small information technology (IT) group, the expertise does not currently exist internally to design, build, and implement the sort of extensive online platform required for this effort. Therefore, the recommendation is to contract this work out to an internet marketplace provider who can work with ABC to meet its needs within the determined timeframe and budget. It should be noted that while ABC does not have this expertise internally, the technology exists and is in use throughout the marketplace which lowers the risk of this concept considerably.
In large global corporations, it can be challenging to share timely information across the enterprise. For a pharmaceutical firm like Eli Lilly & Company, the ability for all employees to easily access vital company information can provide a significant competitive advantage. With the advent of the World Wide Web, Lilly saw a powerful technology that might help alleviate some communications challenges. The company formed an Internet Services department to use the Web to create an internal
Identify the advantages and disadvantages of taking your small business online by performing a SWOT analysis 2-4 items in each category. The online business I am going to start is Earl’s Flowers Togo. We sell flowers arrangements and candies online and we have a brick and mortar store. One of our strengths is that we sell affordable high quality flower arrangements with name brand candy. We have a website that is very internet friendly and you are able to click and drag your flowers to build your own flower arrangement with a price quote. Another one of our strengths is that we have 2 to 4 hour delivery from the time your place your order. Our weakness in the company is that
or save to your disk and use as an example in developing your own business plan.
6. DON’T pick a business because “there are so many of them, they must be good.” When buying a business, feeling safe is a strong and undeniable urge. When you look at an already popular franchise, your safety level instinctively is high. You can see how easy it appears to operate, and you know that your skills could easily accomplish the necessary tasks. Right? Not necessarily!
Based on the observation of how a small-sized business can reach more clients spread across the world, one of the high achiever’s path was to have a user-friendly e-commerce website to keep the clients engaged and provide their needs without the hassle of making a client go the to the store
Business: With the help website company proved its presence on the internet—advertised its products and services, and everything that was the demand of potential customers.
2) Where are there promotions for drinks? / Where can I get a mug of beer for the cheapest price possible?
The following report discusses about the benefits and the problems associated with the association of a company in the web.
The application server will provide the processing power for the transactions that are processed on the website. The most important considerations for this server are its speed and memory. The website being designed by Primus will eventually include a comprehensive list of features. Each one of these features will place an additional burden on the system processes and memory. In support of the demands placed on an application server’s memory and processing power, Rayport-Jaworski (2003) says “The logic involved in implementing the business rules can at time be convoluted and can require a fair amount of processing power to determine” (p. 362).
Designing of web engines is the first activity of the marketing. The designing of business websites helps the customers to get more about the organization and the products (Best, 2012, p. 45). New clients can access the website for further details about the products, interact with the organization and receive feedback from the organization. If the website is poor and the contents are not appealing, the clients will withdraw making the sales to decline. Unilever Company has improved their websites that enable the clients to interact with the company and get instant feedbacks from even the managerial staff (Montgomery, 2008, p.
Many companies (large and not) open their offices on the Internet, so-called corporate sites. Some companies fully transferred their business to the Internet. More and more people prefer to buy goods in shops, read online newspapers and magazines, and chat with friends over the Internet or access their sites using the following resources: the creation of Internet-sites professionally.