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In preparation for assignment 2 YOU MUST do this: This Assignment (assignment 2) provides students with an opportunity to design a simple e-commerce plan. Select a product or service that you think is suitable for you to sell on the web. In Assignment 2, you should answer all the questions in relation to the business you have chosen in the form below. (MY SUBMITTED IDEA WAS ELECTRONIC PRODUCTS SUCH AS MOBILE IPAD AND ALL ELECTRONIC DEVICES) There are a number of revenue models introduced in chap 3 (such as web catalog, free for content, and advertising as a rev model). You`d need to pick one and follow the instructions as explained. https://docs.google.com/forms/d/1SC-ENv1HWhDI4FKJc74jM8Ls0cs3b1Pl4Ns58I_thvw/viewform?usp=send_form Deadline for idea submission: Fri of week 7, 5pm Link to the idea submission form: (Link) Link to a short video (2min) which briefs you about how to do idea submission for assignment 2: https://youtu.be/GkS_CT1_TXY Assignment 2 Specifications Assignment Specifications: Please download the assignment specifications and questions from the link below (assignment specifications will be posted later in the semester). Also download the "assignment answer sheet" from the link below, fill the first two pages with your details. Copy your answer to each question onto this file (page 3 onward). Finally save your file as pdf. Then click on the link called "Assignment 2 Submission Link" (which will appear at the bottom of this page by week 10) to submit your assignment electronically. When you click on this link, on the following page, click on "Browse My Computer" in the middle of the page, and attach your answer to the assignment in pdf format. Before you attach your assignment pdf, make sure it works properly by openning it and making sure that all pages read well. Note that in previous semesters we have had several student whose assignment pdf file was broken and could not open (these students received their grades late - in order to avoid this just check if your assignment pdf opens properly before submitting it). Moreover, make sure that you have read the instructions on this page before you submit your assignment. Paper submissions will not be accepted. Your mark will be available via Learning@Griffith MyGrades once final grades are released by the university. You must download important files here: THERE ARE 5 QUESTIONS TO BE COMPLETED. 1) In Chapter 1 (pages 37 and 38), the SWOT analysis was introduced. In less than 750 words, conduct a SWOT analysis for your suggested e-commerce business. Listing each element of the SWOT matrix is not enough and you should actually explain each factor you list. In considering the opportunities and the threats, you will need to do some research about the industry that your business operates in and, in a more general sense, its business environment. This part of the research and analysis must be based on real-world data and information: while your selected business itself may be an actual or imaginary one, the industry it operates in is definitely real. To achieve a high mark for this question, including a meaningful table and/or figure which show the industry status and supports your argument is needed. (Strengths: 2.5 marks, Weaknesses: 2.5 marks, Opportunities: 2.5 marks, Threats: 2.5 marks – total: 10 Marks)
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Question 2) In Chapter 1 (pages 29 through 32), various forms of an economic organisation were introduced. More specifically we found that a network form of economic organization is well suited to ecommerce. For your suggested e-commerce business, design the network form of your economic organization. For this, you need to draw a figure similar to Figure 1.8 on the page 32 of the text book. This figure should clearly show all the players, such as your suppliers, customers, consultants etc. The more comprehensive this figure, the higher your mark. Moreover, for each player listed in your Figure, you should explain the type of interaction and exchange that takes place between your company and the player (your answer to this last part should not exceed 400 words). (Figure: 5 marks, explaining interactions: 5 marks – total: 10 Marks)
Question 3) In Chapter 3 (pages 117 through 141), various revenue models for an online business were introduced. For your suggested e-commerce business, design a revenue model. You should specify the revenue model (or combination of revenue models) for your online business. In no more than 600 words, you should: (a) specify and justify your choice of revenue model(s), and (b) include as much details as you can about how you will implement your revenue model(s); in other words, how you will be making money in your business (see pages 117-141 of the book). The more innovative and smarter your revenue model, the higher your mark. (5 marks for part “a” and 5 marks for part “b” – total: 10 Marks)
Question 4) In Chapter 4 (pages 190 through 212), various advertising/marketing methods for an online business were introduced. Design 3 advertising/marketing methods for your suggested e-commerce business which can maximise your access to potential customers. In no more than 600 words, you should: (a) specify and justify all your three choices of advertising/marketing methods, and (b) include as much details as you can about how you will be implementing each method (see pages 190212). The more innovative and smarter your advertising/marketing methods, the higher your mark. (5 marks for part “a” and 5 marks for part “b” – total: 10 Marks)
Question 5) In Chapter 12 (pages 515 through 525), cost/benefit analysis for a new online business was explained. For this question, you should run a cost/benefit analysis which justifies your new business. Assume that Australian federal government has agreed to provide you with a maximum of AU$250,000 entrepreneur loan (to be returned in one go 3 years after starting your business). Given the budget you have received (the budget you receive has to be equal or less than $250K): (a) come up with a simple cost breakdown (in AUS $) for your suggested e-commerce business. This should include all cost items for the first three years of your business (given the limited budget you have); (b) Come up with a simple benefit/income breakdown (in AUS $) for your suggested e-commerce business. This should include all benefit/income items for the first three years of your business (based on your anticipated sales rate – which is likely to grow over time). Your cost/benefit analysis should justify the economic feasibility of your business (in other words, is the benefit worth the cost). Draw a table showing the cost/benefit items. Also in support of your answer to both parts a and b, provide necessary explanation about each cost/benefit item (your answer to this question should not exceed 600 words).The more detailed your analysis, and the more comprehensive your cost/benefit items, the higher your mark for this question. (5 marks for part “a” and 5 marks for part “b” – total: 10 Marks)
