The Missing E-Factor

E commerce or electronic commerce is an evergreen medium. It not only has transformed the conventional commerce and trading, but Internet has also opened hundreds and thousands of new businesses for millions of people belonging to the any part of the world.

To be very honest, the Internet has redefined everything that belongs to businesses and trading pursuits. World Wide Web, as it happens, transmutes failing businesses into Fortune 500 companies and this virtual kingmaker may also turn a period of absolute economic decline into a massive financial boom for slow growing SME’s, companies and business firms.
Online world is a quite specialized, separate and unique field involving meticulous business strategies, policies and planning just like offline conventional world. Unfortunately, most of the businessmen in our country take the Internet just for granted. Disregarding the advantages and benefits this online world offers to both local and global business communities, here our local businessmen in Pakistan mistakenly consider the online world as a mere source of fun and pleasure meant for the underage groups and good-for-nothing gadabout.
Businesses are flourished at the Internet. Businesses may also die at the Internet if not given the due attention. This particular Internet becomes a place of reincarnation for many businesses whereas, at the same time, Internet serves like an undertaker for some unfortunate trading entities.
In spite of the benefits and blessings offered by the Internet, this unique and very cost-effective communication medium can be easily regarded as most abused medium of communication in Pakistan. Where a majority of visionless young souls waste their time and energy in finding explicit content and images, the other side consisting of businessmen also considers the Internet as a secondary source of marketing and promotion, thus giving less importance and value to World Wide Web unfortunately.
Several countries like India, Bangladesh, China, Sri Lanka, Malaysia, Indonesia, and Thailand etc. are really generating sizeable revenues by using these online resources. As far as online trading is concerned, Pakistani businessmen and traders are still far behind whereas our neigbouring country has experienced a phenomenal growth by utilizing online business channels and web portals.
For example, www.worldoftrade.com is a leading business-to-business portal on the web and hundreds and thousands of leading manufacturers and corporations including a great number of small, medium and large enterprises (SME’s) from all over the world are using this website to make contacts with global business communities. Apart from generating millions of revenues, www.worldoftrade.comnow is supposed to be an international gateway to enter in the international market and the same online portal, originally operated from Arab territory, has also become trade mark of Islamic region itself. Pakistani exporters, manufacturers and business people can easily utilize this great portal to make contacts with rest of the business world without putting lots of efforts.
When offline traditional trading is hit by severest recessions, this is the Internet which is, in fact, beyond any kind of economic recessions and online businesses get flourished here on the web despite economic slumps in conventional markets. Businessmen of Pakistan need to realize that Internet is not just the medium to energize mindless teens as, in actual fact, Internet is an alternative revenue-generating resource for real businesses.
While most of Internet literate Pakistani youth know nothing than using this speedy medium for ordinary things like needlessly chatting with opposite gender even by making fake online identities, Internet offers a number of untapped business opportunities to genuine businesses as well. Make your website in a way that brings exceptional traffic, concentrate on social marketing of your products and services, and also participate in leading business portals and websites to meet with rest of the businessmen like you living in other parts of the world.
Skipping the web may just result in your total isolation brining your businesses to a level of further saturation or, better to say, your complete diminution from the corporate picture. Not only junk messages automatically sent from rated websites, your inbox may also receive genuine business inquiries from your prospective buyers and suppliers from all over the world. Most of the ignorant people seem to be concerned about receiving malicious virus via misleading emails. But in reality, the actual virus is rooted in our constipated minds prohibiting us from using the Internet, a great form of speedy communication, for the greater benefits of our businesses and trading activities. You can still express your long kept love to your sweetheart through a prolonged email written with alluring emoticons and love symbols, the even better option is to allure rest of the online business towards your own business and products.
Facebook is downgraded into an online trash-box where we regularly dump our emotional garbage and also share others’ trivia in the name of social networking. On the other hand, there are also many other businessmen and trade opportunists who utilise Facebook for leveraging and facilitating their entire social marketing initiatives and campaigns in a very cost effective way.
Having made all essential arrangements to promote your business offline, why don’t you now make an online showroom now? Here are the many business portals and websites especially created for this purpose. The most interesting fact is that you don’t need to recruit a separate staff or other human resources at your online showrooms as this virtual existence only requires one man’s attention, dedication as well as meticulous utilisation of online resources to make sizeable money out of the Internet.
Most of the local businessmen in Pakistan consider that making a website is just enough to mark your organisational presence on the web. Business development is an ongoing process which despite earning the entire fortune never finds a killing word like ‘enough’. Making a website is definitely a praiseworthy step taken by any businessman but just think how many websites are daily launched on the web and how many of them get viewed by visitors. We can never expect receiving considerable traffic on our websites without making additional efforts as this online medium contains millions of websites wherein all of these websites and portals continuously strive hard to get top listings in search engines like Google. There must be a solution which may bring you on top in the search results.
Search engine optimization (SEO) is the name of this solution which not only helps your website come at top at Google but also paves the way for your whole corporate and business growth on the web. After launching a website, just spend a few more rupees and get your site optimized by a professional SEO expert and see the difference. In fact, all big companies, mega corporations and business tycoons get their websites optimized on regular basis so that they can get the top space in search engines like Google. Whether you company belongs to SME’s category or your organization looking for immediate business expansion, let’s get started right away.
The fact is that people now know about ecommerce or familiar with this term but their overall knowledge and expertise on this booming phenomenon of ecommerce is relatively low than traders operating their businesses in modern countries.
Earlier said, Internet is supposed to be a whole new world offering loads of business and trading opportunities to businesses, and has become a distinctive profit channel  generating billions of dollars for various industrial, banking, financial and services based sectors of the world. Those traders who know this medium effectively have already generated exceptional profits and earnings but what about rest of the traders and entrepreneurs in our country who are still reluctant to utilize online medium for the greater benefits on their own businesses.

Auction

In the current business and commercial environment, many things are sold through auctions. There are many types of auctions. The primary auctions include English auction (also called an open ascending price auction), Dutch auction (also called an open descending price auction), sealed first-price auction (also called a first-price sealed-bid auction (FPSB)), Vickrey auction (also called sealed-bid second-price auction), multi-unit auctions, uniform price auction, and discriminatory price auction. There are also many secondary types and forms of auction such as all-pay auction, combinatorial auction, generalized second-price auction, Lloyd’s syndicate auction, NR (no-reserve auction, also called an absolute auction), reserve auction, reverse auction, silent auction, top-up auction,  walrasian auction (also called Walrasian Tâtonnement), and other auctions. The business sector providing the auction services is itself a most distinctive and extensive field which has formed its very own unique business expressions and terminologies. The auction glossary includes many terminologies such as appraisal, auction block, bidding, buyer's premium, buyout price, commission, consignee, consignor, dummy bid, CMD (caution money deposit), dynamic closing, EMD (earnest money deposit), escrow, hammer price, increment, job lot, knocked down to lot, minimum bid, no reserve, outbid, opening bid, proxy bid (also called aka absentee bid), registration deposit, relisting, reserve price, sniping, and vendor and vendor bid etc.

Brokerage

Brokerage:

Brokerage is also a kind of business services provided by professional brokers in various fields and sectors. The most common and general examples of brokers include discount brokers, real estate brokers and agents, mortgage brokers and insurance brokers. Providing the brokerage and brokerage related services, all brokerage firms are, in actual fact, financial institutions that operate and perform like stock brokers. There are many types of brokerage firms and brokers operating all over the world. The examples of these brokers include aircraft broker, broker-dealer, business broker, commodity broker, customs broker, information broker, insurance broker, investment broker, joint venture broker, leasing broker, list broker, marriage broker, mortgage broker, options broker, power broker, prime broker, real estate broker, retail broker, ship broker, sponsorship broker and stock broker etc. There are many brokerage houses operating in the business sector. They buy and sell shares and get their commissions accordingly. These brokerage firms maintain the portfolios of their clients that maximize their profits and strengthen their existing portfolios as well. All brokerage firms also work like pure consultants. These brokerage firms know the business forecast better than other business sectors that’s why brokerage firms and brokerage agencies are more reliable and trustable than any other service providers.

Assurance Services

Assurance Services

Assurance services are supposed to be rather independent professional services which are usually provided by certified public accountants (CPA’s) in all parts and countries of the world. There are many types of assurance services being provided all over the world such as auditing, attestation services, accounts receivable review, business risk assessment, comfort letter, customer satisfaction survey, Information systems security review and Internal audit outsourcing etc. Besides providing assurance services, these certified public accounts also provide different services such as assurance and attestation services, corporate finance (also known as initial public offerings, share and debt issuing, merger and acquisition), corporate governance, estate planning, financial accounting, financial analysis, financial planning, forensic accounting, income tax, information technology, tax preparation and planning and venture capital etc. The primary responsibilities of assurance agencies are to provide right and error information to companies in order to minimize the potential threats and business information risks.  Assurance services are required by many businesses that are mostly engaged in provision of financial and financial security services. Assurance services can also be categorized as some sort of consulting services. Assurance services are very useful and helpful in testing the validity of financial statements but these services also deal in information systems security reviews as well.

Agency Services

Agency Services:

Providing different forms and types of agency services is also a kind of business services that has become a money-making venture in this very competitive business environment. There are various forms and types of agency services offered all over the world. Examples of these agency services include advertising agency services, travel agency services, marketing agency services, insurance agency services, fiscal Agency Services, diversified agency services, financial agency services, shipping agency services, media agency services, real state agency services, potential agency services, SEO agency services, elderly companion agency services service, media monitoring agency services, social media agency services, food service marketing agencies, fashion agency services, collection agency services, dating agency services, shared agency services and general agency services etc. As a matter of fact, there are a number of different kinds of agency services being provided by professional, recognized and certified agencies and groups in all parts of the world. Business services providers are also known as BSP’s in many parts of the world. Services sector is a very huge business sector and there are many types of services provided by business service providers such as administrative services, civil services, community services, customer services, table services, domestic services, fan services, military services, and public services and selfless services etc.

Advertising

Business services are countless. In fact, there are more than thousands of several forms of business services being provided in different forms and shapes by a number of both organized and unorganized business sectors in the present world. Advertising is also a most popular form of business service which has now emerged as most profitable and evergreen business service as compared with rest of the other business services being provided by the business firms and corporation in the existing world. There are two basic forms of advertising: ATL (above the line advertising) and BTL (below the line advertising). Both of these advertising forms are widely utilized by business companies and nongovernmental organizations to lever ge their organizational publicity and promotional activities. No one can really avoid the importance and significance of business services like advertising in the modern world. Advertising remains so vital and essential for overall business success of all business organizations, corporations and companies. No business or commercial venture can survive without relying on business services like advertising. Especially in this modern world, advertising through various medium of mass media has become a distinctive field for the business world. In actual fact, advertising is beneficial in its each and every form.