Noru Razak
E-Business With Entrepeneurs
In Malaysia, the rapid development of information technology has also led to the progress of the Malaysian economy indirectly. The sudden increase in Internet users in Malaysia is a big phenomenon in the world of commerce. The Internet is proven to provide large-scale effects and benefits to people around the world including the entrepreneurial community. The explosion of rapid development in the field of information technology, especially in the development of the Internet, has impacted the overall use of electronics in various fields. Among them are e-business, e-government, and e-commerce. E-business refers to the use of the Web, Internet, intranet, extranet, or some combination thereof to conduct business. E-business is similar to e-commerce, but it is more than just buying and selling goods and services online. E-business has a wider range of business processes, such as supply chain management, electronic order processing, and customer relationship management. E-commerce is one of the business methods that bring profit if done in the right way. Although the stock and commodity markets are down, e-commerce is still able to survive and receive high transactions. Among the e-commerce companies that have succeeded and become pioneers in Malaysia are zalora.com, mudah.com, lazada.com, and lelong.com.my. This shows that the exposure of the advancement of Internet technology in Malaysia in particular and throughout the world in general is becoming more widespread and gaining universal attention.
As more sales, marketing, and other internal business processes are conducted digitally, electronic business processes such as customer relationship management (CRM), enterprise resource planning (ERP), and content management are becoming increasingly important. This transition has also been facilitated by better security measures for online transactions. The main problem in trading activities since ancient times is the long distance. To expand its business, the service provider needs to expand its market which will involve a lot of costs such as transportation, maintenance, and so on. In addition, time also needs to be taken into account, especially if it involves international trade between countries at different times. The internet is a very powerful communication tool in commerce. Trade conducted through e-business is faster and more efficient because traders can reduce operating costs, save transaction time, delivery and expand strategies between traders
HOW E-BUSINESS CHANGES THE ENTREPRENEUR IN CREATING NEW BUSINESS FOR THE NEW MARKET?
Through the use of e-business, business organizations and entrepreneurs gain advantages from the aspect of cost. This is so because e-business requires low costs and can increase profits. Therefore, those involved in business can reduce the cost of renting shops, insurance, control, and other costs related to the cost of goods and services. E-business also creates direct contact with customers between business organizations or entrepreneurs. Business organizations or entrepreneurs will get feedback directly without involving third parties. Even the feedback can be obtained quickly and directly online. Therefore, they can improve all the weaknesses in e-business. This can speed up changes in policies and strategies
Broad prospecting and marketing. If before the coverage of product marketing was limited only to the surrounding area, but through e-business, the opportunity to advertise and market goods or services more widely without borders can be done. In addition, results can be seen quickly. Some researchers state that certain categories of products sold online are better than others. Mostafa, Wheeler & Jones (2006) found that entrepreneurs with a high Internet orientation also showed an increase in expanding their business results. Thus, the development of information and communication technology is seen as a catalyst for business expansion, especially in online business.
E-business also has its weaknesses faced by entrepreneurs such as not being able to display real products. Product characteristics are important in determining consumer satisfaction and online shopping experience. Consumers certainly expect the goods purchased online to be as displayed during the advertisement. Traders state that good information content influences consumers’ willingness to buy a product. Online merchants usually provide a lot of product information that buyers can use when they want to make a purchase, but still cannot be described in detail on the website so some people think that the product information provided is not enough for users to make decisions. Therefore, the advantages found in a product cannot be well understood by consumers. Goods or services that should be able to meet the needs of consumers will be marginalized and rejected by them due to information that should not be displayed.
CONCLUSION
Internet business through e-business not only provides benefits to users, but also provides convenience and benefits to merchants. From time to time, e-business will present countless opportunities and challenges to the economy and society. In addition, not only the people receive the benefits and benefits, but this also has a great impact on the country. This situation shows that Malaysia is now able to compete with other developed countries. For merchants, e-business can increase sales and reduce production costs and can identify new suppliers and business partners in addition to being able to interact directly with consumers. However, users should also be careful because there are some risks that they will face. A more organized preparation is necessary if this e-business concept is to be implemented. Therefore, control measures, especially security aspects, need to be emphasized in an effort to increase the scope of Internet-based business. This action is important so that the community’s confidence and trust in Internet business. Therefore, the authorities and the government must control the use of the Internet in business, so that this facility does not misused by those who are not responsible. Online transactions have their own negative and positive effects. However, if used properly this transaction can bring the country’s products and image to the international scene as well able to compete in a borderless global economy. Therefore, all parties need to work together to move the country’s economy to be more advanced and comparable to foreign countries.
