Report about Reflection on E-Business: IEKA

Reflection on E-Business: IEKA

All e-business users have their own moral and ethical code. Majority of this learn from communities in which they grow up about the e-business and how it can be improved. With the evolution of technology working, strategies of companies are changing and the majority of companies in the Middle East are transformed in the e-business. There are some conditions to make business possible and grow rapidly. IKEA is a group of Middle East that owns 276 stores in 25 different countries and a total of it becomes 313  IKEA stores in 38 territories. The strategy used by IKEA is to design and develop new products that are based on the needs of customers. The services will be low-cost services for the customers that provide functional, reliable, and attractive solutions. The concept of IKEA started with the idea to provide a wide range of services for home furnishing products and the service are affordable for customers belonging to different classes. In the business model of IKEA the services are designing, sourcing, packing, and then the distribution of the products to the customers. The brand is gathering attention from different potential customers and provide services to the new and current customers with reasonable incentives. The outreach campaigns of IKEA are used to keep the interest of customers lives. The customers are also getting services through social media. There are different success factors of IKEA and one of the most important is low priced functional furniture that is based on the strong cost efficiency policy. The company has established global sourcing and trade volumes for the development. The services used by the customers must be given to the worldwide leader and economics at a large scale. IKEA provides affordable furniture to the customers and the cost of the product is half as compared to the customers. The prices of IKEA are low even packing, storage and transportation cost.

Recommendation of Reflection on E-Business: IEKA

IKEA require better strategies for potential growth and improve firm competitiveness. The company is recommended to promote IKEA future growth and use strategies review. In order to survive in the changing environment, IKEA has to improve strategies and adapt changes, particularly innovative technologies. The company must consider the preferences of customers and market trend. There are several elements that IKEA must focus on and it must deal with the value proposition as well as competitive advantages to maintain the services. 

1.      I recommend IKEA to have a business and financial position of IKEA and use extensive distribution channels.

2.      IKEA must become capable to cope with the transaction phenomena and consider the core market in the company.

3.      IKEA must develop its symbols such as slogans and logos to make the brand familiar for the people and generate a positive brand image in the customers (Usman, 2010).

Reflection on E-business: Souq

Souq.com is an E-commerce platform that is owned by Amazon Inc. On March 28, 2017, Amazon confirmed about acquiring souq.com and in 2019 Souq .com become as Amazon of UAE. Souq .com provides facilities to the users to browse and buy products from the online store on the largest discount. The products provided in the online retail store are from different categories including mobiles, tablets, cosmetics, fashion, and original perfumes. The company is providing offers on free return policy. Souq provides services that are valued at around $ 1 billion and $650 million price tag. The services are incredible in the Middle East. The company is making higher returns and revenues. In order to utilize the services provided by souq, the customer must have a trade license and ID. The online platform provides an opportunity to sell and buy specific categories through valid bank accounts.

Souq.com is known as the English Arabic language for the platform of the ecommerce and this company is engaged in offering the services by online shopping. Recently on 28 march, 2017 this was acquired by the Amazon. Before it; it was one of the best ecommerce platform in Arab world. The Souq was acquired by Amazon for $580 million.  Souq.com UAE has become Amzone.ae in 2019. The first item that was order by the customer by the Souq it was delivered to customer in Dubai in 2005. It has work hard to continually for increasing the shopping experiences along with the addition of the millions of the products. This is engaged in offering faster delivery along with the committed quality as well as it is constantly focusing on the great value of the products. Over the last 13 years there are the several milestones for Souq for engaging and matching up with Amazon. The Souq has become the part of the Amazon in order to provide the services world widely, but there major focus is on the Eastern countries and it running its operation in the Middle East. The Souq is well known company that is engaged in facilitating and accommodating to its valued customers in effective manners by offering its quality services.

Recommendation for E-Business: IEKA

In order to improve the competitive advantage as well as the potential growth Souq needed to be focus on the better strategies. It is recommended to the Souq that it must be focus on its strategy planning in order to attain the revenue and enhancing its potential growth. The strategy review must be utilized by the Souq in order to enhancing its future growth. The improvements in their strategies and utilization of the latest and innovative technologies can leads the Souq for surviving in the change environments. The preferences of the customers along with the trends of the market must be focused by the Souq. It has been recommended that Souq must be establish the various innovative strategies in order to cope with the change environments. There must be policies and strategies for the commitment of the clients for any products. All of the customers must be fully satisfied with the services and products that are offered by the Souq. The use of the extensive distribution channel can enhance its quality services. Due to which the potential growth of company can be enhance as well.