Characteristics of Six Sigma
Six Sigma is a well-known management breakthrough. There is a dearth of experts who have defined the process in their own way and have come up with a long list of characteristics. However, according to us this performs a task of confusing people rather than actually giving them insight into the way Six Sigma actually […]
Global Race between American and Chinese Firms for Profitability and Survival
The Global Race between American and Chinese Firms There is an intense and uber competitive race going on between American and Chinese firms for profitability and indeed, sheer survival. Ever since the Global Financial Crisis of 2008 hit the world economy, transnational firms have seen their profits dip, and indeed, some of them had to […]
Mistakes Managers Make in Knowing Employees
Let us highlight some common mistakes managers make in knowing and managing employees: Do not expect your team members to know everything. How can an individual perform each and every task with perfection? Key responsibility areas should not be designed just for the sake of it. Responsibilities should be delegated as per capabilities, specialization and […]
Bond Indentures and Covenants
When an investor thinks of bonds, they often think about the financial agreement between the investors and the borrowers. However, besides being financial instruments, bonds are also legal in nature. Each and every fixed-income security which is in existence has a contract that defines the rights and obligations which various parties have under different circumstances. […]
The Fall of an Ambani Scion
Dhirubhai Ambani was the perfect rags to riches story that India had ever seen. He had started out with nothing. However, he ended up becoming the richest man India has ever seen. During his meteoric rise, Dhirubhai Ambani, owner of the Reliance group of companies, beat some of the richest and most politically well-connected men […]
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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