E-commerce managent Essay Example | Topics and Well Written Essays - 2000 words

E-commerce managent - Essay Example Now, â€Å"E-commerce is the function of creating exchange i.e., buying and selling over digital media† (Kalakota and Robinson 1999). Once it was interchangeable in meaning with e-business. Now, the term e-commerce has come of age by not just exchanging business but beyond that – comprising e-marketing, e-franchising, e-mailing and much more. Corporate success has to be essentially a strategic application based on entrepreneurial principles. Traditionally, strategy was formulated and implemented on Solution-Based Logic. Senior members of companies used to spend days in suggesting strategies to increase profits. Strategies suggested by board members served personal interest more than real work, questioning and ridiculing others’ ideas. All members had different perspectives of evaluating the proposed strategy. It was an amalgam of conflicting strategies, where finding a consensus was just a formality. Politics played a major role in zeroing on a strategy. Customer satisfaction on adopting a strategy based on traditional method was not beyond 5% to 15% better than earlier solutions. (Anthony, 1999) Advanced strategy, on the other hand, involves thinking process applied at senior level, called Outcome-Based Logic. It provides solutions, satisfying 80% more customers than the earlier solutions, performing ten times better than traditional strategies. Due to the fast changing IT environment, advanced business strategy needs to be formulated to convert new opportunities and add value to turn corporate investment into appealing propositions, remaining in the competition by providing durable benefits to business units. The fast pace of technological development has changed the ways of doing business on the global platform. The World Wide Web has changed the strategic mindset of companies to exploit the vast market potential, earlier unavailable. The major challenge of this dynamic business world is to run durable profit-earning