Business Risk and Audit Planning Reporting

Business Risk and Audit Planning Reporting
Student’s Name
Institution
Course
BUSINESS RISK AND AUDIT PLANNING REPORTING
Introduction
For years Amazon has dominated the e-commerce world and has driven all business to extinction. Some of these businesses are willing to pay millions of dollars on their marketing strategy. The primary mission f this giant business is to dominate all costs. There are different reasons why there is a significant growth in e-commerce. E-commerce is not only convenient for consumers but it is also a digital platform that offers a lot of opportunities to flourish and grow. E-commerce enables the startups of business and also provides the establishment of new ones in order to increase the outlet of revenue. However, e-commerce has faced fierce competition from different firms. Therefore it is very important to try and emulate tactics of the business giants like Amazon and others. The following are the general business strategies because the client has made a decision of entering the e-commerce space
First, the client should Increase online shopping of consumers. Since online sales are increasing rapidly, this has resulted in high street stores to collapse. Human beings love spending money on cool things. However, the manner in which consumers are spending money has drastically changed. Over a few decades, people had to visit the streets and stores in order to find goods and clothes or household items. But today through online shopping goods can be delivered directly at their doorstep. More and more retailers are locating their way through online shopping thanks to e-commerce. Therefore increased online shopping ensures there is 24/7 shopping, price comparison, online sales, and free shipping. Online shopping is more lucrative and comfortable (Demartini, & Trucco, 2017). Additionally, except warehouse, there is no other place required to conduct business so it can help in cost reduction. This is a very helpful business strategy warehouses reduces the cost of labor and focuses on how to gain productivity of labor on an hourly basis. Warehouses also control inbound and outbound freight and inbound supply chain.
Other business strategies include increasing the demand for global goods by the consumers. Generally, the demand for consumer goods tends to increase when business, firms or companies in the economy produces goods. however economic factors such as employment, inflation, wages, interests rates and the confidence of the consumer affects the demand for the consumer good (Demartini, & Trucco, 2017). This is also very important for the busine...