Volusion Vs Shopify: Which Is The Right ECommerce Platform?

Volusion Vs Shopify Which Is The Right Ecommerce Platform For Your On

Which is the right ecommerce platform for your online store? Get to know the whole insight about the both platforms, their working, creation, pros and cons. Risk Analysis for Global Business Venture MGT/ 448 September 12, 2016 This Paper identifies risks faced by global business venture. The risks given concern are political risks, legal risks, cultural risks, financial risks, and ethical risks. Strategies on how to curb these risks to ensure successful business venture is recommended.

It also discusses how effectively these risks can be managed for a prosperous business. Global business venture is risky depending on the country of operation. These risks deter business survival and if not properly looked at, they lead to business failure. These risks are so risky to an extent of scaring many entrepreneurs from indulging in business activities in both developing and developed countries. Most entrepreneurs consider it more risky to venture in global business because it may end up failing or encountering losses (Han et al., 2007).

This is due to exposure on uncertainty of the information in the market. Therefore, it becomes a necessity to evaluate and analyze risks while operating in a venture globally. Risks management is a formal process that involves risks identification, analysis and risk response. This happens throughout the business operation in various lifecycles of the business. Actually, most authors consider risks identification as a pillar to risks management.

Therefore, in this paper, I will look at these risks faced by business operators in Australia and how effective curb of them can ensure business growth and profitability. While identifying risk, it’s meaningful to know its definition to exactly know what it entails, or what it is all about. It has many meanings depending on different scholars though the content of definition agrees on a related aspect of the business. According to CIMA Official Technology (2005), risk is a condition where there exists a quantifiable dispersion in the possible outcomes due to any activity done. To effectively manage it, it is divided into categories such as, political, financial, legal and cultural.

In Australia business venture prosper effectively due to the country’s level of risks control and the tradition placed in forming business ventures that is accommodative to entrepreneurs regardless of their country of origin (Hather, 2006). Considering financial risks, Australian has no complicated financial risks. The country has adopted policies to ensure effective control of this type of risks to both financial providers and the financial users. This is achieved through a prudent management of risks and effective regulation supported by World Bank and IMF. Financial stability in Australia has been given priority an act that as achieved safety of the Australian financial market.

Australia has decided to put effort on individuals than on financial providers. It has ensured a movement of risk management from corporation to government (Hather, 2006). Thereby having informed legislation where public policy is considered in risk management. Though all the strategies created by the country, business operators are not in much risks operating in Australia. This is made possible due to the creation of a world-class regulatory structure for the development and growth of Australian financial economy.

However, this cannot guarantee a successful operation without risks involved. The financial risks feared by business operators include credit risks which happen when a financial institution fails to comply with the terms of contract. This hinders the effectiveness of the operation and, in return, enhances business failure. Most entrepreneurs get such failures in countries with no proper regulatory rules and risk management strategies. Currency risk is another financial risk.

It is stimulated by the value of a financial instrument that fluctuates due to changes in foreign exchange policies (Collier & Agyei-Ampomah, 2006). The Australian dollar is a stable currency which runs stably with other currencies in the global market; however, it may be affected by financial crises caused by global changes in market dynamics. Interest rate risk is also a financial risk most business ventures are wary about. The rate of interest in Australia has remained stable though it is affected by China’s economic operations on Australian exports. The country’s climatic conditions, which are not under more scrutiny, pose a threat to the financial sector.

Lastly, liquidity or funding risk. A business venture may find difficulty in raising funds to meet financial commitments. This happens due to unstable lending rates, which come with high-interest rates charged by financial institutions (CIMA Official Terminology, 2005). All the discussed risks under financial risk damage the business reputation and even its failure. In Australia, financial risks can be fueled by a faster-than-expected economic slowdown in China, which is a leading trading partner to Australia, and failing house prices.

However, its expansionary monetary policy applied by its Central Bank helps in sustaining domestic demand, and its low public debt capacity motivates business operators’ motive to operate in Australia. Political risk is another risk which an investor may experience in Australia. Australia, being one of the best-performing economies, has a liberal democratic government and similar political practices to the UK and USA (Khattaba et al., 2007). Considering the composition of its leadership, laws, and regulations on business ventures may change unexpectedly. Therefore, it is important for an investor to check on the regulations in each state.

The most probable political risks in Australia include the Middle East tension rise as influence wanes, US elections, BREXIT, and the possible outcome of their election. The region is experiencing ongoing conflict and geopolitical uncertainty, which lowers oil prices in the region (Han et al., 2007). This has an effect on the global market, providing a warning to investors. US elections may have different outcomes depending on the candidate who wins. Due to uncertainty about who may win, the market operates with uncertainty. Britain’s exit from the European Union has left instability in the market as opposed to their traditional stability. This exit has left Europe with no clear alternatives for growth as China slows down. Additionally, Australian elections influence market stability; the outcome depends on the elected leader’s stance toward foreign business (Khattaba et al., 2007).

Cultural risk is also a concern for investors. While investing in Australia, cultural risk is minimal; nonetheless, entrepreneurs must consider it. Australia is composed of citizens born from different countries, mostly English-speaking, and known for their innovation compared to other global companies. It is an inherently risk-averse country. Therefore, an investor should ensure familiarity with English, which facilitates market understanding. Reflecting local preferences, customs, and habits is vital—failure to do so increases the probability of business failure. Australia has implemented new risk culture standards, which enhance foreign investors' success chances.

Legal risks in Australia may exist due to differences between the legal systems of the investor’s home country and Australia’s legal framework (Khattaba et al., 2007). Variances in contract law and questions about the applicable law are common legal challenges. The country has different taxation and revenue laws, and negligence or product liability laws must be acknowledged by investors. These legal differences can be managed through international agreements and legal frameworks for global trade. Ethical risks also need consideration; Australia enforces strict anti-corruption policies, and corruption or nepotism can undermine business operations. Taxation and double taxation could complicate profitability, especially for foreign companies (CIMA Official Technology, 2005).

Despite these risks, Australia is considered favorable for business owing to its innovative environment and strategies for risk management. Its stable political climate, strong regulatory environment, and proactive financial policies make it a compelling destination for global entrepreneurs. To succeed, investors must thoroughly understand the specific risks and develop adaptable management strategies aligned with local conditions and regulations (Hather, 2006; Khattaba et al., 2007). Continuous monitoring and risk mitigation practices are essential to ensuring the longevity and prosperity of international business ventures in Australia.

Paper For Above instruction

Choosing the right ecommerce platform is crucial for the success of an online store. Among the most popular options are Volusion and Shopify, both offering comprehensive tools for building and managing ecommerce websites. This paper examines these platforms, comparing their features, usability, pricing, pros and cons, and suitability for different types of online businesses to help entrepreneurs make informed decisions.

Shopify is a widely used ecommerce platform renowned for its ease of use, scalability, and extensive app ecosystem. It provides an intuitive drag-and-drop interface, making it accessible to users with limited technical skills. Shopify's key features include a wide range of customizable templates, integrated payment gateways, comprehensive inventory management, and robust marketing tools. Its large app store allows for significant customization, enabling businesses to tailor their online stores to specific needs (Shopify, 2023). Shopify also offers excellent customer support, with 24/7 live chat, email, and phone assistance, making it a reliable choice for new entrepreneurs and established businesses alike.

Volusion, on the other hand, is an all-in-one ecommerce builder that emphasizes design flexibility and strong analytics. It offers a user-friendly editor, responsive themes, and integrated payment options. Volusion is particularly valued for its powerful data analysis tools, which provide detailed insights into sales, customer behavior, and marketing effectiveness. Its product management capabilities are thorough, supporting complex product catalogues and variations (Volusion, 2023). Unlike Shopify, Volusion does not have as extensive an app store but compensates with built-in features that cater well to small and medium-sized businesses.

In terms of pricing, Shopify offers tiered plans starting from Basic Shopify to Advanced Shopify, with additional costs for apps, themes, and payment processing fees. Shopify's pricing is competitive and easy to understand, making it accessible for startups. Volusion's plans are similarly structured but often include more features in their base packages, which can be advantageous for businesses wanting an all-in-one solution without extra costs. However, Volusion's higher-tier plans can be more expensive as features grow.

When evaluating usability, Shopify’s interface is particularly praised for its simplicity, making it ideal for entrepreneurs with limited technical experience. Its streamlined setup process and extensive documentation support quick deployment. Volusion, while also user-friendly, offers a slightly steeper learning curve due to its more detailed analytics and customization options, which may require more time to master but provide greater control over store optimization (Hassan & Hwang, 2020).

Both platforms have their strengths and weaknesses. Shopify excels in its ease of use, extensive app ecosystem, and strong community support, making it suitable for startups and small to medium-sized enterprises seeking rapid deployment. Its scalability also means larger businesses can expand without changing platforms. Volusion provides detailed analytics, excellent product management, and integrated features that cater to businesses prioritizing data-driven decisions and customized design. However, its fewer third-party integrations can limit flexibility in highly customized environments.

To determine the right platform, entrepreneurs should consider their specific needs, budget, technical expertise, and growth plans. If rapid setup, ease of use, and a large support community are priorities, Shopify is likely the better choice. Conversely, if detailed analytics and comprehensive product management are crucial, and the business has the technical capacity to handle more complex configurations, Volusion could be more appropriate. Both platforms offer free trials, allowing users to explore their features before committing, which is beneficial in making an informed choice.

In conclusion, neither platform is inherently superior; rather, each serves different business models and needs. Shopify’s user-friendly design and scalability make it an excellent choice for most entrepreneurs entering the ecommerce space. Volusion’s powerful analytics and product management appeal to businesses seeking deeper control and insights. Ultimately, the decision should align with the specific operational requirements, budget constraints, and future ambitions of the business.

References

• Hassan, R., & Hwang, M. (2020). Comparing E-commerce Platforms: Shopify vs. Volusion. Journal of Digital Commerce, 15(3), 45-58.
• Shopify. (2023). Shopify Features & Pricing. Retrieved from https://www.shopify.com
• Volusion. (2023). Features Overview. Retrieved from https://www.volusion.com
• Hather, R. (2006). Risk Management and Business Success in Australia. Australian Financial Review.
• Khattaba, A. A., Anchorb, J., & Davies, E. (2007). Managerial perceptions of political risk in international projects. International Journal of Project Management, 25(7), 659-665.
• Han, S.H., Kim, D.Y., Kim, H., & Jang, W. (2007). A web-based integrated system for international project risk management. Automation in Construction, 17(3), 376-386.
• Collier, P.M., & Agyei-Ampomah, S. (2006). Management accounting risk and control strategy. Oxford: Elsevier.
• CIMA Official Terminology. (2005). Chartered Institute of Management Accountants.
• Hassan, R., & Hwang, M. (2020). Comparing E-commerce Platforms: Shopify vs. Volusion. Journal of Digital Commerce, 15(3), 45-58.
• Shopify. (2023). Shopify Features & Pricing. Retrieved from https://www.shopify.com