The internet is revolutionizing businesses upside down and inside out, fundamentally changing how companies operate. E-business management is an evolutionary step in the coming up of the business process redesign movement of the 21st century and the continuing innovation and investment in communication and information systems. As a result, good management teams have started seeing the advantages of looking outside their internal processes to imagine how a “virtual value chain” could increase their sales and decrease expenses, driven by a more competitive global environment.
The exponential increase in Internet users—from a small number in late 1995 to over 100 million today has introduced a new factor and sparked a significant shift in marketing approach. Now that producers no longer need to go via merchants to reach end users directly, the internet offers a new distribution channel. This change in marketing also resulted in the development of entirely new categories of e-businesses, which has raised demand and boosted user numbers, putting pressure on conventional retailers to establish an online presence.
While the full effects of the e-business phenomena are still being felt by many organizations, the internet has created a valuable e-commerce retail arena by offering a flexible and affordable platform to integrate an organization’s value chain virtually. The power equation has evolved from product and service to information and speed of information, and the internet has significantly altered many aspects for individual users. As a result, information and the speed of information have emerged as the primary differentiators in the virtual market, where there is intense rivalry and a wide range of goods and services.
Understanding MBA in E-Business Management
Electronic business management or e-business management combines business processes with the Internet to help organizations achieve their business goals. An e-business manager aims to develop how a company’s ideas and products are presented to customers. As Internet-accessible customers increase, running an e-business plays an increasingly important role in the modern business world.
Managing an e-business requires individuals with web design aptitude and strong verbal and written communication skills. Good problem-solving and investigative skills are also very important in running an e-business. E-business jobs require strong leadership skills, strong sales or marketing skills, and sometimes the ability to speak multiple languages to reach customers in other parts of the world. E-business managers must master digital technology and track internet trends to assess how successful they are in reaching their target group.
Different types of E-Business models
Electronic business or e-business refers to online business processes performed over the Web, Internet, or via intranets, extranets, and other business process-supporting networks. E-business includes a broad range of activities in the field, enhancing commercial processes through frequent communication and collaboration between companies and customers.
- Business to Consumer (B2C): Basic business model, where the consumers can purchase from a business via the internet directly.
- Business to Business (B2B): Here, businesses conduct transactions with each other and gradually move through the supply chain process.
- Consumer to Business (C2B): The customers are responsible for creating demand for certain goods and services and giving business to the companies.
- Consumer to Consumer (C2C): The buyers and sellers are consumers. Platforms such as eBay are great examples of this model, where business is facilitated through a third party.
The internet is changing the way companies operate. It permeates management-oriented business practices, buying and selling goods and services. As a result, organizations are rethinking their business models and redesigning their strategies.
A few examples of E-Business
IBM was one of the first to use E-Business terminology back in October 1997 to address the confusion its consumers had with an internet-based business. Since then, they have worked on their E-business model, captured its benefits, and were successfully able to triple their income nearly.
Taxi service Uber is another such example. The company utilized an E-Business opportunity and broadened its vertical by entering into food ordering and delivery services under the UberEats name.
Most travel sites such as Booking.com or Trip Advisor use consumer data to give a personalized itinerary concerning price and location based on multiple factors such as ratings, prior experiences, travel history, etc.
What does MBA E-Business Management comprise?
Any traditional company looking to transform, like all e-businesses today, digitally needs people with the skills and expertise to match the needs of the Online businesses that are revolutionizing retail, and demand for digitally skilled workers is growing exponentially. E-business remains booming, with increased sales and revenues remaining intact during Covid-19 uncertainty, a good sign for this profession and job security. E-business salaries vary; entry-level candidates can earn up to 7.35 LPA. After gaining some experience, you can earn up to 11.35 LPA; after being in the game for good, you can earn up to 38 LPA.
An MBA in E-Business Management will give you knowledge of internet business models, all things e-commerce, an understanding of customer relationship management, and all the skills you need to do business online. Doors open to multiple areas such as Product Management, Digital Marketing, Project Management, and Analyst Firms.
E-Business Career Outcomes
Almost all successful companies today use e-business and e-commerce to achieve their goals. There are many opportunities for this in various industries. From social media marketing to online sales, we rely increasingly on the Internet to conduct our business, so we may need someone who understands e-business.
Whether you want to understand e-commerce better to complement your current business skills or start your own online business, an MBA in e-business management will give you a deeper understanding of internet marketing and prepare you to sell. The primary objective of an MBA in E-Business Management is to introduce graduate and undergraduate students to the concepts, tools, and approaches of e-business. Additionally, this subject can help students develop the skills to run a business in the digital world.
E-business management consists of implementing communication technology to carry out business activities. This is a shift in traditional business concepts based on Internet access to markets and resources in a connected, globalized world. This new approach encompasses all economic activities on the Internet, such as selling products or providing services.
The Master’s Degree in e-Business is aimed at digital enthusiasts who want to expand their skills and become high-level executives in management, marketing, communications, and advancement in highly technological environments. In addition, future students should have an entrepreneurial spirit and wish to optimize the design, configuration, and integration of related processes. Therefore, a set of elements of a virtual business project, both in the field of management and administration and in the field of technology, is needed. The program has three purposes: acquiring management skills in the digital sector, using all digital means to generate economic activity in the digital sector, and achieving high positions in the digital sector.
As organizations increasingly leverage new Internet technologies, e-business professionals must thoroughly understand this. The program is designed to give participants a 360-degree view of e-business management, covering digital marketing, standard business models, customer acquisition, tools and techniques, ongoing e-commerce operations, emerging and global trends, and applicable legal and regulatory frameworks. Specialists who have completed the program are already qualified to work in the Indian and overseas markets. Graduates can also work in large corporations or private sector small businesses, corporate and consulting firms, various offices and ministries, or even private sector management positions.
MBA in E-Business from Prestige University: The way forward
With the exponential growth of e-business activity worldwide, there is a tremendous demand for e-business professionals who can offer specific knowledge and skills. As a result, E-business is an ever-growing area of opportunity, and Prestige University offers this Master’s Degree to help you focus on specific areas of interest and specialization. Prestige University’s MBA program in E-Business Management is designed for aspirants who want to work effectively in an e-business environment and manage or lead the transformation of existing business processes or the creation of new e-business activities. This program provides techniques for guiding the strategic development of e-business-based organizations and appropriate e-business technologies. As a student, you will develop the skills and knowledge to assess, manage, and improve an organization’s operational functions and apply system integration concepts through market analysis to the design and development of products and services.
This program is intended for those who want to work effectively in an e-business environment and manage the transformation of existing business processes or create new e-business activities. Suitable for a wide range of natural, engineering, and business graduates, as well as graduates with IT qualifications, characteristics of E-Business that deliver digital transformation include agile methodologies, value stream mapping, change management, and stakeholder buy-in. Under product and revenue management, capabilities include consumer behavior and engagement models, technology and consumer interfaces, understanding market economies and value drivers, and differentiated user-centric products and experiences.
Whether you want to start your own online business or learn about e-commerce, Prestige University’s E-Business Management program can prepare you to acquire the skills and industry knowledge you need to process online transactions. Advance your current role or improve your small business performance on your schedule. It can prepare you to understand Internet business models and e-commerce, customer relationship management, website project management, and other fundamental fundamentals. By the end of this program, you will have the right combination of technical knowledge and management know-how to become a successful leader in planning and managing complex IT and technology-based projects.
The MBA in E-Business Management has a six-semester, industry-relevant curriculum at Prestige University. It provides intensive practical experience through internships and thesis projects. They are designed to help students design end-to-end technology product strategies, find and create turnkey solutions, and ultimately build future-ready organizations.
Graduates recognize and sustain innovation and business opportunities in the electronic environment, information and e-business processes, IT applications in social contexts, social challenges, and innovative solutions for the rapidly changing e-business environment. As a result, you can manage and create possible e-business environments and a sustainable competitive advantage.