Updated: Jul 30, 2020
Every business needs to have a strategy and this strategy must be related to changing environmental conditions. In order to survive and maintain growth and expansion top management must protect the business from potentially harmful influences and be ready to take maximum advantage of the challenges and opportunities presented.
Advances in information technology and the internet mean that organisations must embrace successful e-commerce and e-business strategies. Information technology affects business strategy. It is an input to business strategy as well as output. The internet, mobile communications, and future media present both threats and opportunities. Therefore, business strategy that ignores how technology is changing markets, competition and processes is a process for the old economy, not the new economy.
To operate within the new macro-economic environment, organisations must seriously consider the arrival of the new economy and strategies. They must embrace e- business in order to deal with the complexity of the new business environment. Apart from set-up of planning, e-business also must focus special attention and keep up to date competitors and not to become complacent about adopting e-business.
E-business model is important because of the following:
· Makes the possible for information to be shared more quickly and easily.
· Facilitates human interaction.
· Enables organisations resources and capabilities to stretch strategically.
· Provides global reach in marketing.
· Allows consumers to shop 24 hours a day from any location; and
· Promotes economic growth.
· Gain acquaintance and and save cost
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