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Monday, July 29, 2002
Book Review

Learn the ‘e’ of commerce in New Economy
B. S. Sandhawalia
The Asian Manager’s Handbook of E-Commerce. by Rajesh Chakrabarti, Vikas Kardile. Pages 356, Price Rs 325.

IN the ongoing communication revolution, the borderless Internet has changed the rules of business. Old barriers to entry have crumbled under new threats, new start-ups have vanquished established brands and whole new industries have emerged from the possibilities unleashed. The Internet is an inter-active medium that helps organisations become more focused, leaner and efficient in a "winner-takes-all" business environment.

If you are a manager who wants information and analysis about e-commerce to help you navigate the New Economy better, then The Asian Manager’s Handbook of E-Commerce by Rajesh Chakrabarti and Vikas Kardile is the book for you.

This book deals almost exclusively with e-commerce that is just one branch of this medium. The authors while giving you an analytical view steer you through the different lanes and alleys of e-commerce activities.

After giving an introduction and overview to the Internet revolution and e-commerce and their impact on the global business environment, the book takes a closer view of e-commerce activities. It explains and analyses in detail the various business models like re tailing on the Web, business-to-business (B2B) e-commerce, and the economics of ISPs, auction sites, portals and search engines. Details of various electronic payment systems and also the regulatory framework regarding laws and taxes on the Internet follow. The book views stock markets, worldwide trends in e-commerce and the Internet, before examining a case study on creating an e-business venture.

While addressing these topics the authors first explain the macro concept and then proceed to the micro issues. The book is targeted to help the business manager evolve a management strategy for e-commerce and it, therefore, explains the various concepts in an easy to understand non-technical language. The book addresses the concepts from the basic principles and fundamentals upwards and is easy for even those with no prior e-experience to understand. In fact, it simplifies and clarifies a lot of queries regarding the intricacies and functioning of the Web.

The last chapter on building a Web-based venture in India takes the reader through the creation of the business activities of the portal www.agriwatch.com. From the beginning of an idea in December 1999 to facilitate trade in agri-commodities, to its achieving a significantly high volume of business, a large customer base and a wide range of products and services in November 2000, the chapter charts the journey of Agriwatch from concept to a mature business. It highlights the need for e-commerce management to be adaptable and flexible as per circumstances in such an uncertain business environment. Agriwatch is a low-cost and efficient organisation that is innovative regarding its business processes.

The authors are of the view that in spite of the decline in stock prices of several e-commerce companies and the shutting down of thousands of Websites worldwide, the Internet is here to stay and its impact in the economy and society can only grow stronger over time, while e-commerce becomes an inseparable part of doing business.