Principles of E-business. Two factors that significant contribute to the success of e-business are: the trust people place in the online businesseshow.

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Presentation transcript:

Principles of E-business

Two factors that significant contribute to the success of e-business are: the trust people place in the online businesseshow secure they feel in transacting business on the Internet.

TRUST  Trust is something that has to be earned over a period of time  Trust brings in repeat business, an essential ingredient for success.  The topic of online trust has been studied in the literature from a variety of angles such as: transaction information content institutiontechnologyproduct

Factors contributing to trust  Trust is not easy to measure. It is developed over time. People trust a business based on their own past experience as well as by third party recommendations.  In the world of online commerce the factors that significant contribute for enhancing transaction trust are:  These qualities support our working definition for trust. Thus, customers want to feel good about each and every one of these aspects before they form the opinion that the business is trustworthy. easy access to description of products and services ease of placing orders Order confirmationorder trackingpost-sales service

SECURITY  Security is something that the businesses can strive to provide.  There are several tools available to enhance security on the Internet. Secure Socket Layer (SSL) Netscape developed SSL to support point-to-point encryption. SSL is widely recognized as contributing to online security and thus is an important contributor for trust building. Secure Electronic Transaction (SET) Visa and MasterCard developed SET jointly, along with several other technology companies, as an open standard to support end-to-end secure online transactions.

 The backbone of SET is encryption.  SET uses industrial strength encryption to reduce fraud and minimize risk to the parties involved.  SET’s three principal goals emulate the traditional card-processing environment for use on the Internet.  These are: authentication non-repudiation integrity

Introduction of Cyber Law Acts in Malaysia  Despite being a positive tool for users, there are some of irresponsible people that are using internet in negative way such as online fraud, identity theft, virus attack and hacking.  Therefore, Malaysian government has already taking a big step to overcome these problems by introducing a few acts of law that can be used for cyber crimes.

ACT These are a list of statutes in Malaysia regarding the Cyber law. Communications and Multimedia Act 1998 Computer Crimes Act 1997 Electronic Commerce Act 2006 Copyright Act (Amendment)1997 Electronic Government Activities Act 2007 Payment Systems Act 2003 Personal Data Protection Act 2010 Telemedicine Act 1997 Penal Code (including Chapter on terrorism & cyber-terrorism) Communications and Multimedia Content Code