E-Commerce Business Model Development

Introduction

The e-commerce business hinges on technology as its driver for success. With that fact, most traditional business practices apply but not with similar success with traditional brick and mortar stores. Speed and agility notwithstanding the uncertainty in developing online businesses make it difficult for the traditional business practices to fit into the exponentially changing e-commerce dynamics. That said, this topic fits a new set of business planning frameworks that is better suited for the evolving needs of the online e-commerce demands.

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Business Models 

Business model is the mechanism that generates value or profit for a business. While the business plan is a document that presents describes goals to achieve a strategy and expected financial performance under a set of assumptions, a business model describes the interplay among critical business areas taking into consideration the uncertainty of the market it operates in.