Online Business vs. Physical Business
MPU2253 Academic English for Business I
Compare and Contrast:
Online Business and Physical Business
Student Name: Nur Adrina Alissa binti Andri
Student ID: 0112871
Date of Submission:
5th March 2015
Online Business Versus Physical Business
“You need customers. Without them, most organizations would cease to exist” - Customers do play a big significant role in businesses and consequently are the main reason for businesses’ existence. Customers are also needed to maintain the survival of a business, be it a sole trader, small medium-sized enterprises (SMEs), private limited companies, public limited companies and so on. All businesses aim to cater and accommodate their customers’ needs and wants so they will purchase the businesses’ products and services. I will be discussing the different features in an online and physical business with regards to start-up cost, marketing advertising and customers’ convenience.
In the early years, businesses’ has started from as a barter where exchange of commodities by coincidence of wants takes place rather than by the use money. Economically, in the modern world, money’s existence as a medium of exchange in the market has increasingly opened up foundations of outlets and stores, and even plantations for businesses to sell their products and services to their customers. This is also known as ‘physical businesses. It does take a lot of costs to open up a physical business, and there are significant number of factors to be considered, such as, location, the establishment of their products and services to the customers, rent, utility expenses, hiring and training employees, and so on. In contrast to this, online businesses retail their goods and services via e-commerce which does not involve in setting up a physical store, where customers can purchase products or services via online. Online businesses also tend to face lower operational costs from lower utility expenses, as well as fewer employees to be employed.
Moreover,
Compare and Contrast:
Online Business and Physical Business
Student Name: Nur Adrina Alissa binti Andri
Student ID: 0112871
Date of Submission:
5th March 2015
Online Business Versus Physical Business
“You need customers. Without them, most organizations would cease to exist” - Customers do play a big significant role in businesses and consequently are the main reason for businesses’ existence. Customers are also needed to maintain the survival of a business, be it a sole trader, small medium-sized enterprises (SMEs), private limited companies, public limited companies and so on. All businesses aim to cater and accommodate their customers’ needs and wants so they will purchase the businesses’ products and services. I will be discussing the different features in an online and physical business with regards to start-up cost, marketing advertising and customers’ convenience.
In the early years, businesses’ has started from as a barter where exchange of commodities by coincidence of wants takes place rather than by the use money. Economically, in the modern world, money’s existence as a medium of exchange in the market has increasingly opened up foundations of outlets and stores, and even plantations for businesses to sell their products and services to their customers. This is also known as ‘physical businesses. It does take a lot of costs to open up a physical business, and there are significant number of factors to be considered, such as, location, the establishment of their products and services to the customers, rent, utility expenses, hiring and training employees, and so on. In contrast to this, online businesses retail their goods and services via e-commerce which does not involve in setting up a physical store, where customers can purchase products or services via online. Online businesses also tend to face lower operational costs from lower utility expenses, as well as fewer employees to be employed.
Moreover,