Online auctions through Web
Online auctions are the latest business model using internet technology where the interested participants bid for the products and services. In online auction the products are displayed through certain site directly by the owner and will be purchased by the buyer dismantling the mediators and commission will be given to the online site provider. These revenues and payments are same as the auction house (Organisation for Economic Co-operation and Development, 2001) Online auction is providing a dynamic pricing environment where both the suppliers and purchasers are benefited.
The main advantages are it creates mutual trust, have a transparent process, access to global markets etc. As of now forward auctions and reverse auctions are two types of online auctions (Is4profit, 2010). History of auction started in 500 B. C in Babylon and online auction stared in 1995 with AuctionWeb now renowned as eBay. There was a huge response from the customers and suppliers and developed it as a big industry. Today there are three broad categories of online marketing: 1. General customer auction (Customer to customer auction) or (Customer to business auction).
2. Specialty customer auction. 3. Business to business auction. Customer to customer auction: Offers are given to attract the new customers and retain old customers. There is a possibility of starting e-stores with minimum cost. Online marketing narrows down the geographical barriers. Even there are failures in the online business industry; Auction Universe is a best example. It was closed in August 2000 despite of $ 10 million sponsorship. But on a positive note new companies like Yahoo, Amazon, overstock etc made their mark in the market.
Specialty customer auction: To overcome the losses and unexpected competition some companies opted for specific customer auction that featuring technology items like photographic equipment, computers, consumer electronic etc. Some of those companies are uBid, JustBeads. com, StubHub, Cigarbid. com, Winebid, Golf Club Exchange etc (Schneider, 2008). Business to business auction: Business to business auction model started with an objective to meet a specific need. Companies use this model to dispose the excess or unusable inventory.
There are three B2B models where two are derived from the traditional methods that are dependent on the size of the company that is large and small. The third one is similar to the consumer online auctions. Some of the B2B model companies are Ingram Micro, Dove Bid, Gordon Brothers Group etc. Future of Online Auctions: There are also some auction related services in the second wave like Auction Escrow Services, Auction Directory and information services and Auction consignment services. (Schneider, 2008)
Online auctions have been described as ‘a business opportunity that is perfect for the web’ which came under the first wave with the assistance of web. Now in the second wave the online auction business is creating new type of business by making the favorable conditions and opportunities. As a whole the online auctions helped to provide the new patterns to the B2C, B2B and C2C e-commerce in future. Online auctions has created new options and brought problems called the online frauds which became a common internet crime. Now online reputation systems are used in controlling online fraud (Gregg and Scott, 2006)
Reference: Gregg, D. G and Scott, J. E. 2006. The Role of Reputation Systems in Reducing On-Line Auction Fraud. International Journal of Electronic Commerce, 10 (3). pp95-120. Is4profit. 2010. Online Auctions: What are the benefits of online auctions? [online]. Available at: http://www. is4profit. com/business-advice/it-telecoms/online-auctions/what-are-the-benefits-of-online-auctions. html [Accessed 21 August 2010]. Organisation for Economic Co-operation and Development. 2001. Taxation and electronic commerce: implementing the Ottawa Taxation Framework Conditions.
France: OECD Publishing. Schneider, G. 2008. Electronic Commerce. 8th ed. Canada: Cengage Learning E-business technology in education: E-business: The educational department is focusing on the needs and opportunities of the student in his future life. Every primary and secondary school in the Island is connected with the wireless link from the network. In order to make communication among students and staff internet and intranet facilities are available in those schools. The teachers are available for the students with laptops (Isle of Man Government, 2010).
E-business is used as a tool to transform the key business process with the assistance of internet. Differences between E-business and E-Education: 1) There is a great difference between E-Business and E-education. The subset of E-Business is E-educations because education became a form of business. 2) E-business have profit motive and E-learning have the agenda of disseminating the education. 3) Both can work in hand in hand but lookout for their own advantages (Sial, 2009). E-Business in Education: The combination of data and business logics are provided in the E-Business Education.
Class attendance, transportation, student registration, accounting and management facilities are included in the E-Business education. Benefits of E-Business in Education are as follows • Higher quality o data • Increased efficiency of the organization • Improved finances The other advantage of E-Business is reduced computing costs. By making the data available in the web an organization can make effective work, better communication among the students and staff from anywhere, improved productivity, reduced cost and delivering positive outcomes (viptone. 2010).
E-business technology assists in having better communication and helps the students to have better awareness by providing newspapers online versions, academic journals, magazines, books and also can participate in active group discussion s. E-business technology interface is molded to have easy to access to the students and experts in other areas to extract the information and disseminate it in a best possible way (Schneider, 2008). E-business strategy planning is creating the right opportunity that is potential enough to change the university culture and can influence the effectiveness and efficiency of service delivery.
They are also developing the learning communities. E-learning is assisted by the materials and the databases and also enhanced by the learning communities like the general public, current student body, alumni, staff etc by way of sharing general support, communication and education through chat groups, e-forums, emails, personal links, ride boards, surveys etc. E-business will have profound influence on education through greater customization of courses, communicating the research, keeping competitive in the new environment, acting as a tool to distance education etc.
E-business became a good platform to develop the online e-learning by offering good number of programs online. Several distance learning programs are making E-business strategy to reach out to the needy E-business is helping to re-build value or supply chains in education. (Kvavik, 2002). Reference: Isle of Man Government. 2010. Education and Training [online]. Available at: http://www. ecommerce. gov. im/advantages/adv_education. xml [Accessed 21 August 2010]. Kvavik, R. B. 2002. E-Business in Higher Education [online]. Available at: http://net. educause.
edu/ir/library/pdf/pub5006h. pdf [Accessed 21 August 2010]. Schneider, G. 2008. Electronic Commerce. 8th ed. Canada: Cengage Learning Sial, S. 2009. Differences Between E-Commerce and E-Business. Ezine Articles [online]. Available at: http://ezinearticles. com/? Differences-Between-E-Commerce-and-E-Business&id=2002483 [Accessed 21 August 2010]. viptone. 2010. E-Business In The Education Enterprise: Harnessing The Internet For Back-Officeefficiencies [online]. Available at: http://www. viptone. com/docs/e-BusinessWP. pdf [Accessed 21 August 2010].Sample Essay of StudyFaq.com