In current scenario of global business environment, tremendous changes are emerging in everyday business due to availability of advanced technological platforms, enhanced markets, consumer behavioural attitudes towards e-commerce and so forth.
In order to compete in today’s consistently changing markets, it is prominent to create competitive advantage in possible areas. There are different highly effective approaches to create competitive advantage. Focusing on e-strategy is one of them.
Here, we are going to understand the key differences e-strategy can make in the business.
e- Strategy is a process towards enhancing the results in business by improving sales and revenue while reducing costs. e-Strategy is an iterative process to create or enhance an organisation’s business model for e-business.
By implementing effective e-strategy, firm or enterprise can expect strong results in different areas. Those are explained below;
- Efficiency– When a company adapts and implements e-strategy through accelerating e-commerce services, the efficiency of organisation would be improved at anticipated level because it makes the process of purchasing goods or services easy for the customers.
- Cost Management- an effective implementation of e-strategy helps to minimise costs at various levels such as operational, administrative, human resources, promotional and others because e-commerce doesn’t require physical shopping place to sell products.
- Speed- By implementing e-strategy in organisation, the speed of service is expected at high level where customers can place orders from anywhere and anytime. Moreover, it helps to customers to save their time by purchasing any products or services online.
- Accuracy- The e-commerce practices delivers the processes and activities more accurately because each and every level of process is done electronically. Hence, e-strategy fosters accuracy levels through its characteristics and efficiency.
- Convenience- The e-commerce services are more convenient to operate and evaluate because it’s virtually done everything on system. Moreover, company can deliver 24/7 services to the customers because it does not require substantial amount of infrastructure, human capital and others.
- Reach Global– The scope is broad and limit is sky for the enterprise because the operations can be reached globally. The buyers can shop from anywhere and anytime through internet.