Monday, August 26, 2002 |
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Book
Review |
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E-com must for business
growth
B. S. Sandhawalia
Global Electronic Commerce by J. Christopher Westland and Theodore H.K. Clark Published by Universities Press. Pages 592,
Price Rs. 565
E-commerce
success stories tend not to come from the traditional commercial giants
of the physical world. More often they are stories about outsiders who
knew almost nothing about the markets they chose to enter. They
succeeded because they understood the Internet and the way they could
harness its potential. Success requires rethinking what the Web is
about. Global Electronic Commerce – Theory and Case Studies helps the
reader understand many possibilities available to tap the expanding
information-enabled revolution and improve the business performance of
their organisations.
Increased competition
and technology change require rapid adaption and innovation. Information
technology is in demand because no business can react rapidly to new
information about competitors and environment without it. The shift away
from wealth creation through production of tangible goods to wealth
creation by information processing has increased the volatility of the
environment in which business operate. In future, technologies available
for e-commerce will dictate a significant evolution of social, political
and economic policy. Global markets can defy existing ways of regulating
business and place power in the hands of customers, producers and
distributors. These technologies also tend to redefine the concept of
what constitutes value – moving away from tangible possessions towards
knowledge-based assets.
Technology has toppled
the barriers of time and space creating a global marketplace where
unique opportunities exist for organisations with an understanding of
the technologies and a global mind-set. The book gives an insight into
the theory of these opportunities and the case studies that follow,
highlight the strategies adopted by the organisations that took
advantage of these opportunities. After explaining the foundations of
electronic commerce, the book provides a historical perspective of the
innovations that arose from it.
The case studies give a
clear understanding of the innovative use of Supply Chain Management and
Information Alliances, Systems Integration and Business Re-engineering.
Increasing use of electronic commerce and information technology for
channel automation is accelerating this trend and has enabled the
emergence of the global market space for information-based goods and
services. Organisation require a competitive strategy that must
continually re-evaluate marketing and supply channels to assure that the
channel tasks are assigned to the best available technology. The book
examines the infrastructure that provides the technology that enables
the use of electronic commerce. This includes the wide area network
(WAN) and the bandwidth provided by the global telecommunications
networks.
The book also examines
the issue of electronic markets. Most industries have successfully
automated their product markets. While the book reviews these product
markets through electronic auctions and intermediaries, it has a chapter
dedicated on financial market automation which surveys issues and
technologies required to implement an electronic market cost
effectively, using appropriate technologies, to reach the widest cross
section of buyers and sellers.
The book also analyses
the concepts of digital retailing, secure digital payments and the
issues on logistics and service opportunities.
The essence of the book is
in the fact that electronic commerce can take, and has taken, a variety
of routes to realise success. Commercial success requires an
understanding of the unique character of global networks and information
technology. Success will go to those who understand and use the
information technologies of electronic commerce.
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