There’s one undeniable fact in the business world: every enterprise needs a certain amount of leverage in order to move forward. Whether it’s in the range of products you have, your expert and competent team of employees, your incomparable services, or your digital marketing edge, your company needs to find ways to present itself that far outshines your competition. Continue reading “How Your Business can Get Ahead with an Outsourced Transcription Service”
In today’s world where there is cut throat competition among businesses, it has become essential to come up with new services and marketing plans. The power of Internet has compelled people to go online, however it is not everyone’s cup of tea. Still many businesses are trying to build their ecommerce websites for better customer base and market share. We know marketing online through an ecommerce website will give you an upper edge over your competitors as you will have a wider target base to serve and can easily operate overseas. However if your competitors are also operating online then you need to come with new technologies that would help you stay competitive. Continue reading “Customization options for Magento theme”
Whenever it comes to making money online, there is understandably quite a bit of apprehension. This is no surprise consideringthe wealth of scammers looking to make a quick dollar off unsuspecting victims. The financial sector in particular is one full of scammers. Sites are bountiful that look to steal your credit card number, bank information and tings of that nature. Luckily, while there are a ton of fake sites with malicious goals in mind, there is a wealth of perfectly legit sites as well. However, before handing over your bank account information and making a deposit, you’re probably wondering which sites are legit and which are not. Continue reading “Netotrade: A Scam or Legit Service?”
If you are looking for a reliable and trustworthy company who can help you import products from China, then you can get to choose from a huge list of companies. Look for a reliable and trustworthy agent who has huge years of experience, excellent professionalism to ensure you with safe and smooth shipping process. One of the best ways to run a business smoothly is with the help of a china sourcing agent. To put it simply, most of the business entrepreneurs rely on this kind of agent to get the work done. It’s mainly because hiring a sourcing agent can offer you with a lot of benefits. Now, keep reading this post to learn a lot more. Continue reading “China Sourcing Agent: Ways To Hire The Best One”
In recent times, online shopping in India has really caught on the fancy of a large segment of the demographic population despite the digital divide. Indeed, the convenience factor, lowered prices and accessibility to resources has driven this habit, more than anything else in India. Baggout has conducted a survey recently and the results are shared in this Infographic. Continue reading “Online Shopping in India – Market Research Report”
A major pain point of the banking industry is the challenge of how to penetrate the Bottom of the Pyramid (BoP), a concept which was popularized by Prahlad . This indeed is a sizeable market, consisting of 2.5 billion people who live on less than US$2.50 per day. Technology is being heralded as a major enabler for the diffusion of banking solutions in this segment, and the same is being brought about by different types of electronic payment systems.
It is interesting to note how in emerging economies, diffusion of these technologies are creating benefits for this segment . No wonder technology vendors and service providers are rallying to get a big pie of this cake and research in this topic has increased significantly [1,2]. However, the risks of fraud and perceived usefulness of these technology are slowing down the diffusion of the same in these economies. Another major barrier is internet penetration, which is significantly low, in developing economies, especially in the rural segments.
However, the development of banking solutions which can be used through Mobile based technologies, can significantly eradicate these problems. The adoption and penetration of mobile phones is significantly larger than internet based technologies. Hence technology giants like IBM and Microsoft are investigating significantly on research, so that mobile payment solutions can be made available to this segment. Some of the major technological advancements which are attempting to address this gap are speech technologies like the spoken web. It would indeed be interesting to see how such technologies can bring about inclusive development in the banking and financial services industry. Indeed the adoption of these technologies can bring about financial inclusion for the general masses by enabling banking solutions for this segment.
- Kar, A. (2009). eBusiness Enablement: Implications for Business Strategy. Available at SSRN 1432433.
- Kar, A. (2009). The Past, Present and Future of Information Systems Research. Available at SSRN 1366962
- Prahalad, C. K., & Hart, S. L. (2002). The Fortune at the Bottom of the Pyramid. Strategy and Business, 54-54.
- Simpson, J. (2002). The impact of the Internet in banking: observations and evidence from developed and emerging markets. Telematics and Informatics, 19(4), 315-330.
And here come 2012. The era of computing has seen some dramatic improvements in 2011. But what is interesting is the evolving focus of technology majors from large enterprises to small and medium sized businesses. So what could be the major movers and shakers for the next two years as we gear ourselves to ride this wave of technological evolution, more in terms of focus and perspective?
- Small and Medium Enterprises (Popularly called SMEs) will ride the wave on e-business offerings. The time has come when even the smallest service provider will leverage m-commerce to advertise his service range for the customer in serviceable range, with the growing popularity of location based services. Everyone with a mobile is potentially reachable through this technology, which is fast increasing in popularity. The fact that Forrester Research predicts m-commerce will grow at a compound annual growth rate of 39% through 2016, and that tablet adoption will grow at a compound annual growth rate of 56% per year through 2015, indicates Location Based Services have a really bright future.
- With the increased popularity of SaaS models in Information Technology offerings, small business can today harness the power of costly powerful technological resources, shared by multiple users, without shelving off millions of dollars. I foresee more and more focus of offerings in the domain of Business Intelligence, which are in a cloud model, for SMEs from the technology service providers. With the resources moved to a cloud, it would be possible to harness the power of ever improving processing capabilities to the available data and then leverage the information and knowledge and gain competitive advantage. The offerings of Business Intelligence on the cloud, should be of the greatest boon to the SMEs and should have a great rate of technology adoption.
- With the increasing access and penetration of the internet, the years to come may witness a growing proliferation of web based start-up ventures, which may operate purely on a click first e-business model. There may be a splurge of knowledge disseminating service providers or web-based internet marketers leveraging the power of affiliate marketing. However, it would remain to be seen whether this time the wave survives longer than the last wave which crumbled during the dotcom burst of the late 1990s. These pure-click e-business models may be further boosted by the integration of such business with the social networking sites like Facebook and Twitter, the likes of which have seen a faster adoption amongst the consumers than any other technology.
- With a greater focus on web-based offerings, very soon SMEs will start harnessing the power of open source resources and applications, in the regular operations and transactions. Job monitoring, scheduling, live meeting and communications in general will start being more accessible to the SMEs without deep pockets. This may see a fast growth amongst businesses who are able to assimilate the benefits of the increasingly accessible technological offerings.
- Last, but not the least, technology may again be leveraged in providing social services. With the increasing focus on social marketing, and the issues centered on triple bottom line, sustainable governance structures may evolve amongst the SMEs which would be heavily leverage on the power of technological advances in general, and e-Business models in particular.
In short the next few years promises to deliver a lot to us. But to what extent the technology evolution and revolution will witness an adoption and assimilation in the SMEs will be interesting to monitor. What do you feel about this era of technological evolution and its impact on SMEs? Write to us.
Today, increasingly software providers are increasing the focus of selling information technology products as services. Thus there has been a spurt of adoption of SAAS (Software as a service) delivery models. However, switching to a SAAS delivery model requires the adoption of newer strategies, to maintain competitive advantage and sustained growth.
So what should be the major focus of entrepreneurial ventures offering technology services as SAAS?
A major success pointer for SAAS business model is pricing their services. Normally a company, which uses SAAS to provide any service should have a 2 tier pricing strategy, a part based on usage, and a fixed (normally initial setup costs). The focus of a SAAS provider should be to provide the benefits of economies of scale at both ends of potential stake-holders. So for a SAAS e-commerce provider, pricing is of key importance. A major successful pricing strategy would be one based on the value of the technology to the user, i.e. value based pricing strategies.
Next another major issue is reaching out to potential customers and then keeping them. Technology firms keep entry barriers through technology platforms, and so an e-commerce portal may continue using a company’s tech, even if it is higher priced, because costs of switching may be too high. The associated platform or hardware licensing issues may arise in cases of switching. Thus customers, once acquired, often are acquired for life, unless major customer dissatisfaction creates contingent situations.
Another major challenge for entrepreneurial ventures is moving forward in the PLC curve. While innovation is a must for information goods, there is a cost associated with development. However, once converted customers, are less likely to accept newer pricing strategies easily. Thus, conveying additive value of the new innovations to the customers becomes another challenge. Thus entrepreneurial ventures often start very successfully, but yet, flicker and die out, while attempting to move up the PLC curve.
Another major concern for entrepreneurial ventures arises from slow evolution of the multi-tenant architecture, which most SAAS providers use as a basic platform to deliver their service. Horizontal scaling strategies create a barrier to develop and adopt newer technologies and platforms that will provide increased operational benefits both for the client and service providers. Virtualization, while lowers cost, is essentially a barrier towards innovation, and thus the question whether multi-tenancy is necessary for SAAS delivery models is a major topic of controversy. This becomes even a bigger factor for entrepreneurial ventures with less deeper pockets.
Finally, another challenge for new service developers becomes protecting IPRs. Since the SAAS model ensures that there to a great extent of customization at the end of each client, the scope for differentiating and maintain the differentiation, is somewhat diluted by the intangible nature of services. Thus new innovations are often plagiarized by competitors and this really hits hard to new ventures. While developing IPRs increases cost (which often is a very sensitive issues in entrepreneurial ventures) , it should be understood it also protects the firm’s services from being plagiarized.
Do let us know if you feel there are more serious areas of concern for SAAS providers, in their focus to develop sustainable business strategies.
With the world full of entrepreneurs, increasingly adopting web based business ventures, a key issue to discuss becomes what is the long term business strategy? Many of the firms, after a promising start are succumbing to the death trap, and fail to grow to a level to sustain the investments made on them. Is it a dogma that haunts them and limits their growth beyond a certain level? Stagnancy in start up ventures is a major concern for most new businesses. Indeed, beyond a point, businesses fail to extend their initial aspiration to compete at a larger level. So what makes some of the firms succeed and sets them apart from the rest. Do we really know what makes the super stars click? Continue reading “e-Commerce Business Strategy”
While there are many e-commerce and e-business models which one needs to be aware of, the dynamics of business strategies change overnight with the adoption of e-commerce and m-commerce business models. The limitations of the more popular strategic frameworks like that of the Porter’s 5 forces model was realized very soon by the researchers in e-business strategy. The generic strategy framework was also somewhat limited in its applicability in pure e-business models.
In view of these changes, there began a serious contemplation of sustainable e-commerce and e-business models for business giants. What would be the mantra for success was long deliberated and various e-business and e-commerce models started getting wider acceptance.
With increased adoption of E-commerce, firms adopted Pure-Click and Brick and Click Business Models.
- Pure-Click companies are those that have launched a website without any previous existence as a firm. Ex: AMAZON.com
- Brick and Click companies are those existing companies that have added an online site for e-commerce but still maintains an offline business model. Ex: futurebazaar.com
However it was noticed that many (as high as 84%) of the business models met with disastrous results and the companies blew up (bubble burst) within a couple of years of its inception. It was at this juncture that the value proposition of e-commerce models started getting scrutinized and the importance of the complete value chain for e-business models got its due importance.
It was realized that the complete value chain needs to be analyzed before a firm selects a business model for its operations.
The analysis of the core of a firm is crucial for success in this increasingly information age, where business models are attempting a quick fly off the sly to generate revenue and most of which are falling flat.
By the way, have you read our article on the Growth Strategies of Web Based New Generation Firms?
Electronic commerce, which is abbreviated popularly as e-commerce or eCommerce, is defined as the buying and selling of products or services over electronic media like the Internet or other Information Technology dependent networks. Sometimes e-commerce is also interchangeably used with the terminology e-business.
While there has been so many e-business ventures, very few actually even live to see the light of profit. A major reason for this is that business never think properly in depth before going online. There are so many aspects that the CEO needs to give time to think before going online, and not do it just because its the way others are going. Few such questions are as follows:
- First and foremost, the top management needs to deliberate on the nature of the business and the industry. What are the core competencies of the business. Will that be enhanced by going online?
- What about the navigational structure and the way the organization functions? Will the culture embrace such a change effectively? What are the chances of talent loss to competing firms due to the cultural changes and process changes?
- How would the existing customers react to the change? Is there a customer retention plan in place? Will the move help to reach out to new potential customers?
- Is the business geared with the proper technological architecture? Have the processes been remodeled to fulfill service demand?
Do keep in mind that the technological architecture has to be designed keeping the service planned, in mind. The architecture preferably needs to be custom fit with your business process. If you are doing the reverse, i.e. fitting your processes to the architecture, do try to weigh out the pros and cons of the switch of the business model to the new business model. Then the above questions become relevant even more to ensure that the company stays healthy and safe.