Why India Must Revamp its Education Sector If it Wants to Become a Global Powerhouse
The Stratification of the Indian Education Sector For a country that prides itself on its rich history and civilization superiority, the present state of its Education Sector is nothing to feel proud about. Indeed, barring for graduates from the prestigious IITs, IIMs, and other institutes at the top of the heap, the rest of the […]
Perspective on International Trade – Meaning and Important Concepts
International trades between countries and across continents have existed for centuries including previous civilizations. Traditionally international trade consisted of traded goods like textile, food items, spices, precious metals, precious stones, and objects of art and various items across the borders. Everybody has heard of the silk route as well as amber road and other famous […]
Linearity and Resolution
Apart from accuracy and precision, there are more factors that determine the soundness of a measurement system. Two of these important factors are as follows: Resolution: Resolution is the ability to see fine details in a system. This ability also gives the system, the ability to distinguish different readings from one another. A good example […]
What is Learning Curve ? – Meaning and Concept
Introduction In any environment if a person is assigned to do the same task, then after a period of time, there is an improvement in his performance. If data points are collected over a period of time, the curve constructed on the graph will show a decrease in effort per unit for repetitive operations. This […]
The Free Healthcare Debate
Healthcare has become outrageously expensive in most developed nations of the world. For instance, American citizens who do not have health insurance are relatively sure that they will not be able to meet their own healthcare costs. The same is the situation in many countries around the world. This has created a debate wherein healthcare […]
The way business or commerce gets conducted has undergone a great deal of change due to the advent of information and communication revolution. In the last two decades or so there has been a phenomenal growth in e-commerce. Electronic commerce or e-commerce consists of buying selling and auction of various products and services through an online medium such as the internet. The payment of transaction is done through a secure online payment system. All or majorities of today’s companies either have websites or conduct e-commerce. In such a scenario, it becomes very important to have well defined business model and formulated e-commerce strategy.
The two very important factors which determines a successful strategy is customer requirements and commercial scalability. Without either, business will fail in its venture. Customers expect superior quality in product and service they purchase. For e-commerce, quality means easy negotiable website, secure transaction and web-site management.
For companies to develop and manage e-commerce sites, it has to invest in manpower and technology. E-commerce sites consist of complex software and hardware structure. Companies make a choice for technology to run its site based on cost-benefit analysis and project scalability.
Therefore, it is important for companies to undertake a quantitative approach towards e-commerce.
A successful e-commerce strategy model consists of organization structure policy and positional structure policy.
Organization structure is building block of successful strategy. It consists of leadership, infrastructure and organizational learning curve.
A successful strategy starts with vision and mission statement. This vision comes from corporate leadership. Corporate leadership should keep open mind about prevailing new technology and should be flexible in changing strategy to tune with an ever-changing world.
Another building block of successful strategy is technology infrastructure. The technology infrastructure has to be adaptive to constant innovation and requirements throughout the organization. The technology infrastructure needs to be cost effective, secure and manageable.
The last important portion of organizational structure is organizational learning. Organization needs to maintain and encourage culture of organizational learning. This prepares company for adaption of new strategy and introduction of new technology.
The second important factor of e-strategy is the organizational positioning in technology, brand, service and market.
Technology leadership provides companies the competitive advantage. Therefore, it is important to identify emerging trend and invest in that technology solution.
The internet has provided an alternate medium through which an organization can benefit in brand development. People are logging onto the internet more than ever. This has provided golden opportunity for organization to reinforce it brand leadership or create brand awareness.
Another dimension of successful organization positioning is service leadership. Service includes providing customer with delightful experience in pre and post sales scenario. Delightful service does not translate into revenue immediately, but helps in building relationship, creating brand awareness and creating brand ambassadors.
Organizations have managed to achieve phenomenal growth using the internet. They have assessed market conditions preemptively and responded by providing correct market offering.
Clearly from above in the current business environment, it is important to acknowledge importance of e-commerce and prepare a strategy which provides an organization competitive.
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Communication Systems and Groupware – Information System Concepts that Apply in All Functional Areas of Business
February 12, 2025
