Recency Bias
There is a common saying in the investment markets that “In the short run, the markets are a voting machine whereas, in the long run, they are a weighing machine.” This saying is often said in order to emphasize the role of long term investment. People with short term goals often fail to perform well […]
How the HR Scorecard Helps Organizations to Actualize Change Management Initiatives
Organizational Change Initiatives Often Entail Human Resource Changes Organizational Change Initiatives need the involvement of the Human Resources (HR) function to succeed since such change initiatives are almost always dependant on personnel and human resources changes as well. Indeed, with the advent of the services sector wherein firms in the technology and financial services space […]
5 Reasons Why Fundamental Analysis Does Not Work In Forex?
Fundamental analysis is considered to be the holy grail of stock investors. Warren Buffet claims to have amassed his fortune thanks to it. People who consider him to be a role model swear by the effectiveness of this method. The media also cannot stop singing praises. However, ask any Forex trader whether they follow fundamental […]
Strategies to Improve Communication
Effective communication is the process of successful transmission of the message from the sender o the receiver. If the receiver is able to download the message in exactly the same way as the sender intended to do, communication is effective. The receiver must understand what the speaker wants to convey and accordingly must give his […]
Systems View of Training – Stages in a Training Program
The success of a training program is evaluated in terms of the end result or the increase in the work ability, skill or competency in the trainee. For any training program to be successful it is very essential to follow a certain process. The basic process as illustrated in the figure below consists of four […]
Business Managers now a days are going back to the business schools to un-learn some of the lessons they had learnt during their class time days and build their ability to make paradigm shift in thinking. In today’s environment where technology and global business scenarios are changing, business rules are being re written. There is no business that has not been affected due to technology.
We are slowly beginning to see a change and transition from production and product oriented businesses to high-tech, information and service oriented Business Organisations. The expectations of the Organisations from its Managers and Management are changing, keeping in line with the need to adapt to the external environment.
Organisations have got to build the capability to assimilate the new trends, adapt itself, its products and business to be able to survive the new wave. This is creating new demands on the managers wherein they need to bring different skill sets, thought process and leadership in steering the Organisation through the changes and achieve a safe launch.
In the future times, change is going to be constant. The speed of adaptation and change will determine the success of Organisations. The managers have got to be futuristic and be able to understand the technology trends and come up with new E business Modules and Organisations.
Continual investment into E technology, focus on providing new service deliveries to the Customers in the face of competition and leveraging technology to stand apart from the crowd is going to be the expectation from the Business Managers.
Doing business on E platform provides a different dimension to the business. The Managers hereto could have participated in planning strategies and not driving the implementation which could be left to the middle management and outsourced partners. The time taken to implement, obtain results and analyze the results have been quite long. But the scenario in E Trade being different, the results and response on the internet is immediate and instantaneous.
Managers have got to focus not only on creating the E Marketing strategy but in implementing it effectively and building the right E Business model to support the E trade initiative. When the business survival today depends upon increasing market share, bringing down the costs, building relationship with customers to enhance service value and build loyalty, the only way that these can be realised is by adapting E Business Design.
Building an effective business model calls for integration of technologies, continual up gradation and committed investments in IT architecture.
The new E Business designs call for change in the Management’s perspectives towards it entire business. Managements have begun to realise the need to invest into IT infrastructure and move away from investing into manufacturing and production capacities. They have also begun to realise the need to be closer to the customer, understand the changing consumer trends and use this understanding to plan product and service deliveries.
Further, the planning horizon is becoming shorter as the need to keep changing the benchmarks, changing the investment priorities and the need to charter the ship through new waters is the call of the day.
Understanding E Technology, its capabilities, its future trends has become the urgent need of all those sitting in the Board rooms. It is not about money any more but it is all about E Technology.
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