01-12-2012, 12:25 PM
E- Commerce
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Explain the architecture frame work of electronic commerce?
A framework can be defined as a structure for supporting or attaching something else, particularly a support that is used as the foundation for something being created. Hence, an e-commerce framework comprises the set of infrastructure required for carrying out the e-commerce business. This set of infrastructure typically includes the network requirements and the different software applications that are for e-commerce.
The e-commerce vision summarised above assumes a series of essential infrastructure services and values steady with a broad architectural framework. This framework must allow flexibility, interoperability and directness necessary for the successful development of electronic commerce. The e-commerce framework offers a set of options to the customers. Most of the electronic commerce plans have different strategies for security and privacy, their skill to deal with the payments, and their usability to different transactions. They also vary in their business models. Such variations promote innovation and allows for supplier and customer options. But yet, you need a broad framework to gain wide acceptance. This includes the following requirements and peculiarities of carrying out various business forms in this upcoming electronic environment.
Interoperability: Electronic commerce is based on a common set of required services and standards that allow interoperability. Service providers and application designers use these services and standards as building blocks. They achieve the goals and objectives of e-commerce by combining, enhancing and customising these building blocks as per the requirements.
Financial securities
Another use for order management systems is as a software-based platform that facilitates and manages the order execution of securities, typically through the FIX protocol. Order management systems, sometimes known in the financial markets as Trade Order Management Systems, are used on both the buy-side and the sell-side, although the functionality provided by buy-side and sell-side OMS's differs slightly. (Typically only exchange members can connect directly to an exchange, which means that sell-side OMS's usually have exchange connectivity, whereas buy-side OMS's are concerned with connecting to sell-side firms).
OMS's allow firms to input orders to the system for routing to the pre-established destinations. They also allow firms to change, cancel and update orders. When an order is executed on the sell-side, the sell-side OMS must then update its database and send an execution report to the order's originating firm. An OMS should also allow firms to access information on orders entered into the system, including detail on all open orders and on previously completed orders. Sell-side OMS's may offer direct market access and support for algorithmic trading. The development of multi-asset functionality is a pressing concern for firms developing OMS software.[3]
Explain Mercantile models from the merchat’s perspective?
Mercantilism is the economic doctrine that government control of foreign trade is of paramount importance for ensuring the prosperity and military security of the state. In particular, it demands a positive balance of trade. Mercantilism dominated Western European economic policy and discourse from the 16th to late-18th centuries.[1] Mercantilism was a cause of frequent European wars in that time and motivated colonial expansion. Mercantilist theory varied in sophistication from one writer to another and evolved over time. Favors for powerful interests were often defended with mercantilist reasoning.
Theory
Most of the European economists who wrote between 1500 and 1750 are today generally considered mercantilists; this term was initially used solely by critics, such as Mirabeau and Smith, but was quickly adopted by historians. Originally the standard English term was "mercantile system". The word "mercantilism" was introduced into English from German in the early 19th century.
The bulk of what is commonly called "mercantilist literature" appeared in the 1620s in Great Britain.[6] Smith saw English merchant Thomas Mun (1571–1641) as a major creator of the mercantile system, especially in his posthumously published Treasure by Foreign Trade (1664), which Smith considered the archetype or manifesto of the movement.[7] Perhaps the last major mercantilist work was James Steuart’s Principles of Political Economy published in 1767.[8]
"Mercantilist literature" also extended beyond England. For example, Italy, France, and Spain produced noted writers of mercantilist themes including Italy's Giovanni Botero (1544–1617) and Antonio Serra (1580-?); France's, Jean Bodin, Colbert and other physiocrats precursors; and the Spanish School of Salamanca writers Francisco de Vitoria (1480 or 1483–1546), Domingo de Soto (1494–1560), Martin de Azpilcueta (1491–1586), and Luis de Molina (1535–1600). Themes also existed in writers from the German historical school from List, as well as followers of the "American system" and British "free-trade imperialism," thus stretching the system into the 19th century. However, many British writers, including Mun and Misselden, were merchants, while many of the writers from other countries were public officials. Beyond mercantilism as a way of understanding the wealth and power of nations, Mun and Misselden are noted for their viewpoints on a wide range of economic matters.[9]