Risk Of Change In E-Business

Essay by PaperNerd ContributorUniversity, Master's October 2001

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If the Assessment of Risk Change with the shift to E-Business With the shift to e-commerce, we see in the offing the birth of the "point and click"� web based businesses that can be stand alone entities or perhaps just another alternative distribution channel for traditional "brick and mortar"� companies. As e-commerce provides a highly technical, fast-paced medium to conduct business, we are confronted with a more complex challenge of risk management. With this new paradigm shift, trust becomes the crucial element that binds the several interfaces involve in e-commerce: the web-based company, the customer and the intermediary ( such as delivery mechanism, payment and banking mechanism if any exist). And the vital element for e-commerce to thrive is to ensure a considerable degree of trust and confidence that can assure customers of reliable and efficient transactions that ultimately defines the soundness and profitability of the company. This is the new challenge of internet-risk management confronting businesses today.

Security threats are wider, more technically advance and global. We are force to look into the technological and legal considerations to ensure the continued growth of e-business.

To assess the risk involved, it is important that we distinguish the difference between the nature and the degree of threats involve. This would give us a fair evaluation that the same problems presented by e-commerce are the same problems traditional companies encounter. The degree, however, are varying as e-commerce is leveraged on high-end technology.

The very nature of e-business risk compared to the risks among traditional corporate settings are comparably the same. Issues such as security, privacy, intellectual property, copyright laws, customer service, efficient delivery, payment mechanism and product quality and warranty are by nature, the same risks involved in traditional businesses. The difference lies on the extent and impact of the risks...

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