Information Of Wijaya Group Of Companies Information Technology Essay

data Of Wijaya assembly Of Companies Information Technology EssayThe Wijaya Group Of Companies was established in 1977 with a hold in number of employees to conduct the vocation. It has a history of over 3 decades directly, and has take ind interlocking opportunities for nearly 1200 employees. The Chairman of Wijaya Group of Companies, Mr. K.R.G. Wijesundara came out with the initial cerebration of establishing this corporation with regard to garments industry 30 yrs ago. As the deliverer of the go with Mr. Wijesundara has faced a lot of ch all(prenominal)enges in directing the participation to obtain its prime lays due to the continues changes in the external environmental factors which aro expenditured from the saucily introduced open economic trading policies to Sri Lanka at that time. The demand factors in the app arel industry changed humply and created some(prenominal) niche markets during this era, forcing Mr. Wijesundara to introduce some(prenominal) strateg ies and evasive action in put together to face these challenges and direct his employees continuously. Due to the clear up compulsory measures adopted, he was adapted to motivate his employees and carry out a amicable environment within the organization leaving a s tread for the employees to complete their individual tasks effectively and efficiently.The Wijaya Group of Companies was able to expand its core task to some(prenominal) revolutionary areas in the industry within a really shorter period of time due to the accumulateive efforts by the employees of all categories showtime from the top concern to bottom train. Among its clients The Wijaya Group of Company, is easy known as C.I.B Shopping Center today, and it provides many con sceptrences under single roof, starting from trade as well as locally manufactured garments to some separate cardinal house hold items. The prime scrape of this fellowship is to invest in newfound transaction ventures and expand it locally as well as internationally, and as a result of this the precaution curtly came up with the idea of specializing in some sectors and opened up special outlets for saris which was named as Wijaya Saree Mandhir. By the end of this year the Wijaya Group Of Companies, holds 22 branches in Sri Lanaka, and conducts its subscriber line ground on a Divisional Structure headed by quintuplet separate Regional Managers from regions such as westbound Province, Sabaragamuwa Province, North Western Province, North Central Province, and Central Province. This partnership has currently employed 21 branch managers, to direct the activities all near its branches.THE VISSION AND MISSION OF WIJAYA GROUP OFCOMPANIESTHE HIERARCHIAL structure OFWIJAYA GROUP OF COMPANIESTHE PROBMLEM IDENTIFIEDTHE ABSENCE OF ONLINE SELLINGThe Wijaya Group Of Companies currently holds the self-command of 22 outlets which includes Shopping Centers as well as special outlets for Sarees and Tailoring. As t he management always tends to expand its trading operations in different sectors, today they are in brink of introducing its products to the global market. The C.I.B shop reduces consider a bun in the oven a wider variety of products ranging from garments to household items and today it holds a strong portion of true nodes that shop in these centers regularly.At amaze the management of Wijaya Group of Company, is bailiwicks hard on increase the customer base they are retention currently, and the most common methods in use are the various marketing tactics which varies from Price differences to different Bonus Offers, by dint of with(predicate) such measures the management has been able to attract customers continuously. except despite all this, our team was able to identify a problem which was a major drawback in this company, and that is the absence seizure of Online interchangeToday we live in a highly globalized globe, where individually in e really individual an d a country is intercommitted via meshwork and as a result of this, change tactics used by most of the organizations are moving towards a more(prenominal) sack up based structure. The marketing strategies used by most of these organizations are diverted to for receive this new trend in order to achieve the competitive utility over their competitors. Profit maximization is considered as a prime target in most of the organizations today, and in order to achieve this it is vital to turn up a customer before the competitor, and provide updated learning to them. A company elicit easily achieve this finished online exchange, where a complex surgical procedure like merchandising buttocks be done by a single riddle on the screen, rather than conflict different retailers, distributors etc.. providing many advantages to the customer as well as the company itself.Literature limited reviewInternetelectronic CommerceThe InternetThe Internet is a vast public net of computer netwo rks, which connects users of all types all around the world to separately former(a) and to an amazingly large schooling repository.It is been hailed as the new technology behind the New Economy. It allows anytime, anywhere connections to discipline, entertainment and communication. At present many companies use the Internet to build close relationships with customers, and marketing partners. beyond competing in traditional market places, they now have access to elicit new market spaces. The Internet may serving a business in the following methods.1. Virtual storefrontSells physical products directly to consumers or to individual businesses.Example Amazon.com2. Information brokerProvides product, pricing, and availability information to individuals and businesses and gene order taxation from advertising or from directing buyers to sellers.Example Edmunds.com, Kbb.com3. Transaction brokerSaves users nones and time by acting online sales legal proceeding, generating a fee eac h time a transaction occurs. Also provides information on rates and terms.Example Expedia.com4. Online marketplaceProvides a digital environment where buyers and sellers lot bear on, explore for products, display products, and establish prices for those products. It could provide online auctions or reverse auctions where buyers submit bids to aggregate sellers to bribe at a buyer specified price as well as negotiate to fix pricing.Example eBay.com, Priceline.com5. Content supplierCreates tax by providing digital content such as digital news, music, photos, or video, over the Web. The customer may to access the content. or revenue may be generated by merchandising advertising space.Example CNN.com, TheStreet.com6. Online help providerProvide online service for individuals and businesses and generates revenue from subscription or transaction fees, from advertising, or from collecting marketing information from users.Example salesforce.com7. Virtual communityProvides online mee ting place where people with similar interests keep communicate and find efficacious information.Example Fortunecity.com8. PortalProvides initial manoeuvre of entry to the Web along with specialized content and other services.Example Yahoo.com, MSN.comElectronic CommerceElectronic commerce which is also known as e-commerce is a form of doing business via internet. It can be also known as the get and selling processes supported by electronic means, primarily the internet. E-commerce includes e-marketing and e-purchasing. Ecommerce benefits both buyers and sellers in many ways such as it could be convenient, buying can be easy and private, it could provide greater product access to buyers, online buying and selling could be more synergistic and immediate, it could be used as a tool for building good customer relationships, from the sellers point it could reduce costs, improver speed and efficiency, and also it could be more flexible way of conducting business.IT found Solution Starting an online selling operationImplementation IssuesStarting an Online Selling OperationThe Wijaya Group Of Companies is a medium sized chain, which conducts its business as shopping centers and saree centers in five different provinces in Sri Lanka, and concentrates in general in the apparel sector today, by providing imported as well as in house garments to varies levels of categories. Currently it uses traditional methods in selling operations and has not adopted itself to the latest method of selling, which is done through with(predicate) internet.Starting an online selling operation system and getting involved in e-commerce would benefit the company in many ways with the present eld rapidly changing business world. Since Wijaya Group of Companies holds 22 outlets, they could build up an intranet which is an inbred network based on Internet and World childlike Web technology standards. All the shopping centers therefore could be tie in to one another. This system for get help the chain to communicate and nourish track of their stocks.Wijaya Group Of Companies could also snap off an extranet, which is a private intranet that is kindly to authorized outsiders such as suppliers of the company. Suppliers could communicate with the company via extranet and supply products when mandatory and each shopping center may place orders when they reach a re-order level. This company could have their own lease line to keep connected to their most grievous suppliers.This company may start off their online selling procedure by launching their own Web position. This web position may include information about the chain, their products, and their branches, how to purchase a product online, recompenses, making orders, checking on new products, etc. They could use banner ads which are computer graphic displays on web pages used for advertising and the banner should be colligate on to the company web berth so that the person clicking on the banner depart be transported to the company web situation presently.They could word a portal which is a web site or other service that provides an initial point of entry to the web pr to internal company data. This portal could provide its viewers with a directory of information on the internet along with news, telephone directories, maps, shopping and other services. They could also develop their own internal portals to provide employees with streamlined access to corporate information resources.CostWijaya Group Of companies volition be able to sell their products directly to retail customers via internet, by passing intermediaries such as distributors or retail outlets. The purchase transaction costs could be reduced in great numbers racket by eliminating intermediaries in the distribution channel (disintermediation). The company could also repay re intermediation by shifting the intermediary role in a value chain to a new source. The benefits of disintermediation to the consumer are illustr ated below.Rs.128Rs.120Rs.100As this processes show, the selling operation of the company could be changed into a much simpler process if the company adopts the online selling method, by reducing the extra responsibilities of retail outlets and distributors which get out help to cut down the costs.The company can use interactive features of web pages to hold consumers attention or to capture detailed information about their tastes and interests. The company web site can be a bountiful source of detailed information about customer behavior, preferences, demand, and buying patterns and the company can use this information to tailor promotions, products, services and pricing.The web site of the company could also obtain customer information by asking chideors to register online and provide information about them. These information along with the consumers previous purchases could be recorded in the company web site and the attached time the same consumer logs in, the web page could greet him/her by his/her name (ex Welcome Peter) and provide the consumer with products similar to the previous purchases. This system volition motivate the consumer to purchase products more a lot from C.I.B shopping centers and give help build strong customer relationships. Communications and product offerings can be tailored precisely to individual customers. Wijaya Group of Companies can create a unique personalized web page which is also known as web personalization that displays content or ads for products of special interest to each user. asunder from these, they can develop their electronic payment systems and receive payments online, and could create blogs to gather customer suggestions, they could even use their web site and e-mail to customer questions and provide customers with helpful information. The web site may also have link such as push to talk for instance where visitors could click on and request for a phone call in fountain of any inquiry and the company sh ould have a call center connected with this link to provide this service.STEPS TO CRATE AN ONLINE STOREFRONTshop CART PROGRAMMEMERCHANT ACCOUNT (BANK)PAYEMENT GATEWAYE-COMMERCE WEB pointSHOPPERThe above picture shows the process of online selling. The procedure of online selling statrs with the creation of a website of the company and ends with a transaction which is done via credit cards.Get sign(a) Up with the Best Wholesale DistributorsIf a company plans to expand its operations to online, it is crucial to search for the best wholesale distributors, drop-shippers and sign up with them. In this case it is vital for Wijaya Group Of Companies, to complete this task first inorder to rate the online selling process smoothly.These wholesale distributors offer the lowest wholesale prices around and drop-ship the products directly to the customers location with the name of the business on the box, so that it will appear to your customer as if the package came from the oraganization i tself. This will be a brilliant concept for Wijaya Group of Companies as it will help to enlarge the loyality of customers towards their products.Build Up the Online StorefrontCreating a website is the next major timber in this,the company will have to create and register their own unique domain name. (eg www.cib-shop.com). The company has to choose a reliable web hosting provider as well.After selecting the unique domain name,it is important to create and design a professional and profitable Internet Storefront that will entice visitors to buy the products on their first visit.Select a qualified E-Commerce SoftwareIt is important to select software that suits the needs of the company. Through this Wijaya Group Of Companies will be able to take and process orders.Recommended Software production Cart SoftwareSelect a suitable way to collect PaymentsA sophisticated payment method is a must in online selling. Most of the organizations accept the credit card system today as it sim plifies the transaction to the customer as well as the company. Wijaya Group of Companies can select the system as it fits, and some of the methods used by other organizations are Real time Credit Card impact through a number of supported payment gateways, Offline Credit Card Processing (eg A company can use their POS if they have retail stores), Checks, buy order, PayPal, Google Checkout etc..Key Facts in Online SellingChoosing the Right NicheThis is a vital factor in online selling. The products a company plans to sell through online has a greater impact on the final value of sales, and this could be only achieved by selecting the exact niche market. Even after selecting the correct niche market if a company fails to deliver the updated information through working hard and introducing new features to their site in a free-and-easy basis still a company will fail to meet the targets set by the management. The Wijaya Group Of Companies will have to consider this takings seriousl y, if they want to achieve competitive advantage over their competitors. They must be in a position to update information of the new products immediately to the site and present it to the customers creatively. In the physical world, niches are based on geography, but Geography is almost irrelevant on the Internet. So it is important for Wijaya Group to choose a niche small enough that they can dominate and maintain it through constant updates. spunky fruit shelterIn a print catalog, production values refers to the quality of the writing and printing processes used, the number and quality of images, and the care taken with graphic design. High production values are critically important in catalogs, which have to convince consumers to buy based on a few sheets of stem.Production values are even more important on the Web. Consumers will not buy from an amateurish Web site. Most of the people who visit a site will still find the idea of edict online unusual as it requires a number of special facilities. The management of this company will have to concentrate on this matter, because the site created by them needs to inspire visitors with confidence. It should say that it is a kind of company that does things right, and that if a customer order something from there, it will be a good experience for them.Promoting the gradeHaving a great Web site is not enough. The success of it, relies on how far the site is capable of bringing in people to it. But promoting an online store is different from promoting an ordinary Web site, because through an online store a company targets to sell its products. Earlier the only answer available for promoting a site was through a Search Engine that provides space for all kinds of products. But recently Internet Hubs like Yahoo And MSN have created areas yet for shopping, giving more prominence to frequently requested products. If a company plans to advertise its products and sell those before its competitors, it is important to make sure that the site created by the company appears in the first place as soon as the customer requestfor similar sites. A company can achieve this by victimization the expose words which relates to the products frequently, as it creates a greater chance for the search engines to filter it out. So it is important for the management of the Wijaya Group of Companies to look in to this fact and create a site which can be easily filtered by the search engines. It is important to use these key words (eg the word clothes) in a natural demeanor and give out the relevant information to the customer, without irritating them by using it repeatedly in each and every sentence and phrase.Emphasize the serveOnline selling is becoming popular in a slow pace in Sri Lanka, and the number of uses who make use of this facility keeps on increasing in a daily basis today. As it is in the verge of growth most of the people who visit a store will still find the idea of buying online a little stran ge, so it is important to reassure these customers. The most powerful confidence builder is a top-quality site high production values go to work directly on the visitors subconscious. But its also important to reassure visitors explicitly. It is important for a company to ensure the security level of their site and the transactions done, as it will have a great impact on the buying patterns of a customer, and if a company is capable of providing the required level of security, they have to highlight it and mention it to the customer clearly, and this can be considered as an emphasizing of a service provided by the company.Advantages and Disadvantages in Online sellingAdvantagesOnline shopping malls give an immediate online presence.Sector-specific malls can provide an effective route to your target market.Theyre easy to set up for people with moderate IT skills.You dont need to go through the process of setting up anInternetmerchant account.You often get help and support in getting your store operational.update your subscribers can be done almost instantly through email. Visitors to your website can get up to the minute information on each visit. If you are having a sale, your customers can start shopping at the discounted prices literally as soon as they open their email.The cost of spreading your message is next to nothing. Emailing your subscription base is more often cheaper than sending a letter through the mail.DisadvantagesThe online selling operation would definitely benefit the company in many ways when comparing with the traditional method which is followed at present. But introducing the new technology to the company may be very costly from the companys point of view in terms of equipment, staff, buildings, maintenance cost, etc. It may be very risky and the results would be unpredictable.Going online and selling online will require more professional and technical staff and since the system will eliminate paper work, a great number of employees will have to be over(p) from their jobs.Incase the system fails the company will have to face the fortune of losing its existing customers.Online selling operations require a special online payment scheme. These Payment Schemes have a greater risk of getting hacked, so the customers will be reluctant to give their credit card information and avoid this method of online selling.There is a lot of competition for the products introduced by an organization. By the time your customer finds you, they have tried out other links. Unless they can find what they are looking for quickly, they are gone.RecommendationsThe Wijaya Group of Companies should not directly stop conducting its business in the traditional method alternatively they should practice a parallel strategy where both the systems should be conducted.The company should adopt its web site according to the changing environment and not just stick to the basics of a web site ( ex add more links)The company could develop a corporate in tranet for the key departments in the business. ( ex Finance and accounting, Human resources, Manufacturing and production, Sales and marketing)In order to attract the customers it is important to update the information available frequently.