Starting a Business Online, Part 1 Assignment Example | Topics and Well Written Essays - 1000 words

Starting a Business Online, Part 1 - Assignment Example Designing of a mechanism of addressing the issues that relate to the regulations governing the operation of businesses is necessary. The online crimes also present a major challenge for most of the businesses. Therefore, this paper elucidates strategies and operations that help in the analysis and addressing various issues that relate to the e-commerce industry. A major strength is the expansion of the global market commanded by the store. It expands the geographic retail market for the clothes stores beyond the Jersey Shore boardwalk to areas all over the world. Another strength is the time-saving potential of e-commerce both for the store and the customers. It reduces the physical movement through fast internet transactions. Lastly, the e-commerce provides the customers the opportunity to compare prices and potentiate their choice of a better business deal (Mahavidyalaya, & Sharma, 2014). Security is the major challenge due to the decreased trust and integrity of the e-commerce form of trade. Furthermore, there are many websites online that are fake thus reducing the authenticity of carrying out online business by the customers (Mahavidyalaya, & Sharma, 2014). The e-commerce business will also lack the personal contact with the customers, thus causing an inability for bargaining and evaluation of customer satisfaction. The changing trends have made the customers interested in branded items through a global trade system. The number of internet users has also risen, and thus promoting the ability to reach the potential customers. The e-commerce also offers a twenty-four hour service to the customers, hence increasing the contact time with the customers. Competition from other online businesses is a major threat to the business. Competition is global, rather than local. The laws and regulations are diverse and thus they may not support the business systems in all countries. Fraud and