ND e-commerce Carl Arrowsmith Session 10 Financial Resources.

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Presentation transcript:

ND e-commerce Carl Arrowsmith Session 10 Financial Resources

Last time Finding out the skills of our Group Understand what is meant by scarcity of Skills Explain how companies are affected by the scarcity of skills Give ways of providing the skilled workers employers require

Today’s Objectives Explain the meaning of Financial Resources Describe several effects of limited financial resources Investigate the financial resources required for an e-commerce site

Financial Resources Resource - “ A source of aid or support that may be drawn upon when needed” The resources with regards to money Amount of money available for a project A Financial Resource might be a loan, budget from department or donor Funding from various places

Financial Resources Where is the money found to setup an e- commerce site ? Bank Loans Company funding the department Other company departments –Promotions may want a site done for a particular project/product Donors – perhaps giving money –Friends, Relatives, Business partners Tax pays (government sites) Government Grant

Finance A company will only be able to spend “so much” on an e-commerce web site The amount of funding will effect all areas of a project and will be a very important aspect in developing the project plan

Spending Funding in a large company may come from other departments –e.g. marketing may allocate part of their resources to promotion of the web site. Once developed the e-commerce site needs to prove its worth considering the spending that has taken place

Limited finance What would be the effect of a reduction in budget ? Not so well developed Less features or functionality Stages of project may be dropped Project delays Poor promotion Greater risk of errors Lack of staff at some levels –Design, maintenance, management etc. End result may be poor web site performance

Funding a business Think of the business you created Look into the costs of setting up the e- commerce web site and write a report with the following details:

Today’s Objectives Explain the meaning of Financial Resources Describe several effects of limited financial resources Investigate the financial resources required for an e-commerce site