E-Commerce 512 Scope PDF

ETHICAL PRACTICES The principles and standards that guide online businesses in conducting their operations responsibly, transparently, and with respect for consumers, employees, and the environment. Transparency: Businesses should provide accurate information about products and services, including...

ETHICAL PRACTICES The principles and standards that guide online businesses in conducting their operations responsibly, transparently, and with respect for consumers, employees, and the environment. Transparency: Businesses should provide accurate information about products and services, including any potential risks or limitations. Social Responsibility: Engaging in practices that contribute positively to the community and society at large. Sustainability: Considering the environmental impact of business operations, including packaging, shipping, and product sourcing. Inclusivity and Accessibility: Designing websites and services that are accessible to all users, including those with disabilities. THREE ESSENTIAL ELEMENTS OF A CONTRACT A contract is a promise or set of promises between two or more legal entities—people or corporations—that provides for an exchange of value (goods, services, or money) between or among them. Any contract includes three essential elements: an offer, an acceptance, and consideration. 1. An Offer: An offer is a commitment with certain terms made to another party, such as a declaration of willingness to buy or sell a product or service. 2. An Acceptance: An acceptance is the expression of willingness to take an offer, including all its stated terms. 3. Consideration: Consideration is the agreed upon exchange of something valuable, such as money, property, or future services. CRM, KM, SCM Customer Relationship Management: The strategies, technologies, and practices that businesses use to manage and analyse customer interactions and data throughout the customer lifecycle. The goal of CRM is to improve customer service, enhance customer satisfaction, and drive sales growth. Knowledge Management Software: The systematic process of capturing, distributing, and effectively using knowledge within an organization to enhance its performance and decision-making capabilities. In e- commerce, effective knowledge management can lead to improved customer experiences, more efficient operations, and better strategic planning. Supply Chain Management: Supply chain management (SCM) software helps companies to coordinate planning and operations with their partners in the industry supply chains of which they are members. SCM software performs two general types of functions: planning and execution. BENEFITS & DRAWBACKS OF USING EMAILS Benefits: E-mail is used to gather information, execute transactions and perform electronic commerce tasks. E-mail conveys messages from one destination to another in a few seconds. Messages can contain character formatting like word-processing programs and can include documents, pictures, audio, movies, worksheets, or other files. The most popular form of business communication—far surpassing the telephone, conventional mail, and fax in volume. Drawbacks: Time consuming when replying to emails. Email attachments can be or contain a computer virus. Most frustrating and expensive problem is spam. LOGICAL SECURITY MEASURES Logical security measures in e-commerce refer to the strategies and technologies implemented to protect digital information and systems from unauthorized access, attacks, and breaches. These measures are crucial for safeguarding sensitive customer data, financial transactions, and overall business operations. Access Control: Implementing strict access control measures ensures that only authorized personnel can access sensitive systems and data. Firewalls: Deploying firewalls helps protect the network from unauthorized access and cyber threats. Authentication: Strong authentication mechanisms, such as multi-factor authentication (MFA), help verify the identity of users accessing the e-commerce platform. Data Backup and Recovery: Implementing regular data backup procedures ensures that critical information can be restored in case of a data loss event, such as a cyberattack or system failure. WEB PAGES The digital storefronts where businesses display their products and services to potential customers. These pages are designed to facilitate online shopping and provide users with the information they need to make purchasing decisions. Home Page: The homepage serves as the main entry point for visitors. It typically features a welcoming layout, branding elements, promotional banners, and links to various product categories. Product Pages: Each product has its dedicated page that includes detailed information such as product descriptions, specifications, pricing, images, and customer reviews. Category Pages: They typically display a grid or list of products within a specific category, often with filtering and sorting options. Shopping Cart: Keeps track of items a customer has selected and allows customers to view contents of their carts, add new items, or remove items. SECURITY POLICY A security policy is a written statement describing which assets to protect and why they are being protected, who is responsible for that protection, and which behaviours are acceptable, and which are not. A four-step process when creating a security policy: 1. Determine which assets must be protected from which threats. For example, a company that stores customer credit card numbers might decide that those numbers are an asset that must be protected. 2. Determine who needs access to various parts of the system or specific information assets. Some of those users might be located outside the organization (for example, suppliers, customers, and strategic partners). 3. Identify resources available or needed to protect the information assets while ensuring access by those who need it. 4. Using the information gathered in the first three steps, the organization develops a written security policy. SECURITY THREATS Phishing Attacks: Cybercriminals use deceptive emails or websites to trick users into providing sensitive information. Phishing can occur through fake emails, websites, or social media profiles. Malware: Malicious software, such as viruses, Trojans, and ransomware, can infect e- commerce websites. Malware can be introduced through email attachments, malicious downloads, or infected advertisements, leading to data breaches and financial losses. SQL Injection: Cybercriminals inject malicious SQL code into a website's database to access sensitive data. This can lead to unauthorized access to customer information and financial data. ONLINE PAYMENT METHODS Many B2B transactions are completed using electronic funds transfers (EFTs). Cash, checks, credit cards, and debit cards are the four most common methods used in the world by consumers to pay for purchases overall (that is, including both online and in physical stores). PayPal Prepaid Cards (Gift cards) Debit Cards (Electronic funds transfer at point of sale (EFTPOS) cards) Credit Cards (Visa, MasterCard) Store-branded cards