Illustration of Technology in e Business strategy formulation and its challenges

It also explains the problems encountered by classical companies in implementing these strategies when transitioning from offline to online markets. The essay also highlights the essential composition of e-business strategy. The onset of global technology advancement and the use of the internet have brought about new approaches to today’s business world, given that the modern consumer market is competitive and technologically oriented; incorporation of e-business into business spheres is mandatory. Businesses have embraced world globalization and are using the internet to open portals to enable them reach the now broadened consumer base. Businesses now must ensure they apply adequate and productive marketing strategies that ensure information about their products is widely spread. drugstore. com website and offers a user a friendly and enlightening shopping experience”.

The second step is outlining the mission statement; Anandkumar (2016), “this is a description explaining the techniques used by the company to achieve its vision, its principle that supports its objectives” (p. An example is the drugstore. com mission statement. The fifth step incorporates synchronizing the mission statement, the profile of the company and the external environment to match in order to facilitate achievement of the business vision, i. e. goal. The sixth step involves deciding the procedure and operations for achieving the business mission and choosing the overall long-term strategies that prove to be most productive and sufficient. The seventh step is to choose the short-range strategies resulting from the selected long-term strategies. clicks existence. It includes the use of physical catalogues and mobile sale system.

This model has frequently been used by classic companies with large logistics and supply chain systems” (p. Transition from bricks to click usually occurs in four stages i. e. At this stage companies also adopt centralization of resources system to facilitate efficient and effective service delivery as the business units are strengthened” (p. A focal team is set up and tasked with setting priorities for long-term e-business opportunities in various business units. The main challenge faced here is determining the capacity to which these strategies perform; necessity and or seriousness of the e-business opportunity, the costs of the strategy and finally the nature of change, i. e. evolutionary or revolutionary. However, for many traditional companies, e-Business strategies remains to be a puzzle.