NET PRENEURSHIP

• NET PRENEURSHIP
  FUNDAMENTAL OF ENTREPRENEURSHIP
  PLAYLIST ENTREPRENEURSHIP DEVELOPMENT SHASHI AGGARWAL CHANNEL
• MEANING

1. COMBINATION OF TWO DIFFERENT WORDS: NET +ENTREPRENEURSHIP
2. A BUSINESS WHICH IS BASED ONLINE WITHOUT ANY PHYSICAL OFFICE
3. NETPRENEURSHIP STANDS FOR ELECTRONIC COMMERCE AND CATERS TO PURCHASE AND SELLING OF PRODUCTS AND SERVICES AND INFORMATION VIA INTERNET
4. DOING BUSINESS ON LINE
5. THE PROCESS OF STARTING A BUSINESS VENTURE ,FUNDING AND ORGANIZING THE REQUIRED SOURCES AND TAKING BOTH THE RISK AND REWARDS ASSOCIATED WITH THE VENTURE ON LINE
6. A NET PRENEUR’S OFFICE COULD BE A WEBSITE/BLOG OR E PRESENCE
7. APPLICATION OF COMMUNICATION AND INFORMATION SHARING TECHNOLOGIES AMONG TRADING PARTNERS TO THE PURSUIT OF BUSINESS OBJECTIVES
8. KEY ELEMENT IS INFORMATION PROCESSING
9. FOR EXAMPLE ON LINE BANKING,ONLINE SHOPPING,ONLINE ADVERTISING ETC
10. NETPRENEURSHIP
11. ENABLES THE FORMATION OF NEW TYPES OF INFORMATION BASED PRODUCTS SUCH AS INTERACTIVE GAMES,ELECTRONIC BOOKS AND INFORMATION ON DEMAND
12. IS ABOUT DOING BUSINESS ELECTRONICALLY AND ENCOMPASS MANY DIVERSE ACTIVITIES IN THE BUSINESS TO BUSINESS MARKET AND IN THE BUSINESS TO CONSUMER MARKET.
13. IS NOT LIMITED TO THE INTERNET ALONE. ELECTRONIC TRANSACTIONS SUCH AS DISCUSSING BUSINESS OVER  TELEPHONE,SENDING A FAX,WITHDRAWING MONEY FROM ATM

• FEATURES OF NET PRENEURSHIP

1. AVAILABLE FOR CONSUMER EVERYWHERE AND ALL THE TIME. CONSUMER CAN CONNECT IT TO INTERNET AT ANY TIME INCLUDING AT HOMES ,AT WORK VIA MOBILE PHONE.
2. IT ENABLES WORLDWIDE ACCESS TO THE CLIENT
3. UNIVERSAL STANDARD: STANDARD SHARED BY THE WORLD. BY USING THE POWER OF STANDARD,E COMMERCE GIVES US THE ABILITY TO CONNECT AT THE SAME LEVEL AND NETWORK EXTERNALITIES
4. IT FACILITATES MODERN TYPES OF INFORMATION BASED BUSINESS STRATEGY FOR REACHING AND INTERACTING WITH CUSTOMERS SUCH AS ON LINE BANKING,ONLINE SHOPPING ETC
5. ALLOWS TWO WAY COMMUNICATION BETWEEN THE COMPANY AND CONSUMER THROUGH E MAIL OR SOCIAL NETWORKING.INTERACTIVITY IS MUCH BETTER THAN
6. INFORMATION DENSITY:-OFFERS RELEVANT DETAILED INFORMATION ON PRODUCT,SERVICES,FEATURES AND PRICES TO ALL MARKET PARTICIPANT,
7. PERSOANLISATION/CUSTOMIZATION

• MAIN GOAL OF NET PRENEURSHIP

1. COST EFFECTIVENESS
2. PERSONALIZATION
3. EASE OF USES
4. CONVENIENCE
5. LOWER PRODUCT CYCLE TIME
6. FASTER CUSTOMER RESPONSE
7. IMPROVED SERVICE QUALITY
8. SECURE AND RELIABLE SERVICES

• FUNCTIONS

1. COMMUNICATION:  TWO WAY COMMUNICATION BETWEEN COMPUTERS IN ONE LOCATION WITH SOFTWARE STORED ON CENTRAL COMPUTER. USING NETWORKS TO CARRY OUT ALL THE ACTIVITIES INVOLVED IN BUSINESS MANAGEMENT AND OPERATION.
2. PROCESS MANAGEMENT:-DEALS WITH THE AUTOMATION AND IMPROVEMENT OF BUSINESS PROCESSES. IT IS THE COLLECTION OF ACTIVITIES OF PLANNING AND MONITORING THE PROMOTION OF A PROCESS. BY NETWORKING SHARING AND TRANSFERRING OF DATA AT A TIME.
3. SERVICE MANAGEMENT;- APPLICATION OF TECHNOLOGY TO IMPROVE THE SERVICE QUALITY OF BUSINESS.
4. TRANSACTION MANAGEMENT:-ABILITY TO BUY AND SELL ON THE INTERNET.

• SCOPE

1. EXCHANGE OF DIGITIZED INFORMATION
2. TECHNOLOGY-ENABLED TRANSACTIONS
3. INTRA-INTER ORGANIZATIONAL ACTIVITIES
4. DIRECT MARKETING,SELLING AND SERVICES
5. SUPPLIER INTEGRATION
6. MARKETING/ADVERTISING
7. ON LINE BANKING AND BILLING
8. SUPPLY CHAIN LOGISTICS
9. SECURE DISTRIBUTION OF NET WORK
10. CUSTOMER RETENTION

• ADVANTAGES TO BUSINESS

1. GLOBAL ACCESSIBILITY
2. LOWER COSTS :LOWER TRANSACTION COSTS,LOWER ADVERTISING AND MARKETING COSTS,LOWER LABOUR COSTS,LOWER INVENTORY MGMT ETC
3. INCREASE PROFITS
4. 24 HOURS AVAILABILITY
5. REDUCTION IN TIME
6. TARGET MARKET SEGMENTATION
7. MORE SATISFACTION TO CONSUMER
8. EXPANDING INTO NEW MARKETS
9. IMPROVED CUSTOMER INTERACTIONS

• ADVANTAGES TO CONSUMERS

1. TIME SAVING AND CONVENIENT SHOPPING
2. SUPPORT DECISION MAKING
3. QUICK DELIVERY OF DIGITISED PRODUCT
4. EASY PAYMENT OPTION
5. REAILY AVAILABLE INFORMATION

• ADVANTAGES TO SOCIETY

1. LESS TRAFFIC
2. PROVIDE PEOPLE IN RURAL AREAS TO ENJOY PRODUCTS AND SERVICES
3. FAST DELIVERY OF PUBLIC SERVICES SUCH AS HEALTH CARE EDUCATION
4. COST OF PRODUCTS

• DISADVANTAGES

1. LACK OF TRUST
2. INSUFFICIENT COMMUNICATION BANDWIDTH
3. LACK OF SECURITY,RELIABILITY AND PRIVACY
4. LACK OF KNOWLEDGE