Professional Documents
Culture Documents
Online platforms such as Google, Amazon, and Facebook play an increasingly central
role in the economy and society. They operate as digital intermediaries across interconnected
sectors and markets subject to network effects. These firms have grown to an unprecedented
scale, propelled by data-driven business models Gawer, A., & Srnicek, N. (2021). The internet
has revolutionized the way businesses operate, enabling them to reach a larger customer base and
conduct their operations more efficiently. In recent years, there has been a surge in the popularity
of online business platforms as they provide an effective way for businesses to reach their target
audience and expand their customer base. Such that, firms can increase sales revenue as e-
commerce platforms help leverage existing consumers and attract new ones, build social groups,
Several studies have been conducted in recent years to determine the effectiveness of
online business platforms on businesses. With the benefit of being fast, E-commerce has
facilitated the buying/selling procedures. A key advantage of cyber shops is saving time. In other
words, while shopping online, customers would not need more than 15 minutes to perform their
purchase. Add to that, providers are so careful as to deliver the products to customers’ doorsteps
within a week Taher, G. (2021). People shop online to avoid traffic going to malls. They also
prefer online shopping because they can shop anywhere and anytime using their mobile devices.
E- Commerce business have significantly lower operational costs and better quality of
services, in comparison to the actual stores. There is no staff to employ and recompense, no rent
and has a reduced fixed operating expenditure (Aonerank, 2019). In a normal conventional store,
customers might get lost while wandering from aisle to other browsing for merchandise.
However, with e-commerce services, clients can search the merchandise categories, or they take
advantage of the webpage’s search tool and can, in no time, find the desired product (Searchcio,
2019).
E commerce has broad array of merchandises and amenities; consumers can get to see a
varied choice of products and services to choose the best of them, unlike traditional marketing
system, one can see only a limited stock McKinsey & Company, (2019). Being a very
convenient way to do shopping, E-commerce has become the easiest and most popular way for
shopping. Products can be ordered anywhere on the planet with just a simple tap on the mobile
It is clear how Online Business platforms give hassle-free to customers. Online business
platforms have become an essential tool for companies of all sizes to market and sell their
products or services. Online platforms allow businesses to operate on a global scale and provide
an opportunity for smaller enterprises to compete with larger ones. The purpose of this study is
to evaluate the effectiveness of online business platforms in improving the financial performance
of businesses and to determine how third-year financial management college students perceive
these platforms.
References:
(Lee et al., 2018). The effect of online shopping platform strategies on search, display, and
membership revenues.
https://www.sciencedirect.com/science/article/abs/pii/S0022435918300344
Gawer, A., & Srnicek, N. (2021). Online Platforms: Economic and Societal Effects. European
Parliament. https://kclpure.kcl.ac.uk/portal/files/149143202/EPRS_STU_2021_656336_EN.pdf
Briones, C. (2015). As more Filipinos shop online, e - commerce becomes game changer.
https://www-sunstar-com-ph.cdn.ampproject.org/v/s/www.sunstar.com.ph/ampArticle/13441?
amp_js_v=a6&_gsa=1&usqp=mq331AQKKAFQArABIIACAw%3D
%3D#aoh=16534811714697&referrer=https%3A%2F%2Fwww.google.com&_tf=From
%20%251%24s&share=https%3A%2F%2Fwww.sunstar.com.ph%2Farticle
%2F13441%2Fas-more-filipinos-shop-online-e-commerce-becomes-game-changer
Aonerank. (2019). Benefits of e commerce for customers, digital marketing learning. Available:
https://www.aonerank.com/digital-marketing-learning/benefits-ecommerce-customers/.
McKinsey & Company. (2019). ‘True Gen’: Generation Z and Its Implications for Companies. Available:
https://www.mckinsey.com/industries/consumer-packaged-goods/ourinsights/true-gen-generation-z-
and-its-implications-for-companies
:Taher, G. (2021). E-Commerce: Advantages and Limitations. International Journal of Academic Research
https://hrmars.com/papers_submitted/8987/e-commerce-advantages-and-limitations.pdf