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March 1, 2000 *3,400 subscribers* Volume 2, Issue 3 http://valueframeworkinstitute.org/ View this Issue: http://ecmgt.com/Mar2000
Question of the Month The topic for March focuses on Executive Ability to Morph Selected Answers of the Month One of the issues I have to mention is the cross-utilization of terms when people discuss electronic communication of financial and business related transaction data. In my vernacular, e-commerce deals with the ‘retail’ or ‘click and order’ business we see evolving on the Internet; the Ebays and Barnes & Noble folks who sell directly to the consumer. The e-Business format deals with the backbone of business enterprise, both on the Internet and other communication infrastructures (Value Added Network Carriers, T1’s and WANs, etc.). e-Business is processing Purchase Orders, Invoices, Shipping Notices, etc., electronically utilizing EDI and other forms of electronic business communications. With this in mind, and since my expertise lies in the e-Business world, I can address your issues from that perspective <smile>. On the whole, I don’t think that executive management of Global 2000 companies lead their companies to be holistic Internet-enabled entities in the year 2000. I believe there will be a significant falling out of companies as the Internet and what it represents– Global Communication on demand – take hold. I do not think the impact will be dramatic, but gradual. Many of the companies that I see today are still struggling with the new ERP systems they have just implemented. They are having difficulty figuring out how to conduct ongoing business operations; not how to lead in an Internet-enabled enterprise. I do not really believe that most Executive Managers in many of these companies really understand what they truly are facing! GLOBAL COMPETITION ON DEMAND! The Internet has enabled anyone and everyone to compete on a product value and price basis. Real-time quotes meeting real-time production and delivery schedules. If you know anything of the ‘spot oil’ market that soared during the ‘Oil Crisis’ of the late 70’ and early 1980’s you see what ‘demand sales’ of product in a ‘price on demand’ climate can do to a market commodity! Many of today’s executives do not understand just how fast and furious the marketplace will/is/has become. I think that many of Global 2000 companies will be brought ‘kicking and screaming’ to the Global Internet world! Those that do survive will do so by enabling the dynamic components of their companies; yes even in MIS (Management Information Systems). Those companies who have CIO’s and Senior Business Analysts who understand both the technology AND the ability to make a PROFIT in a business enterprise will succeed. Those individuals who ‘partner’ with the makers of product and the distribution arm of their companies to join together to form a truly dynamic Global Business Enterprise. One that is responsive to both demand, supply and of utmost importance: CUSTOMER SATISFACTION. This will make a difference which widget gets purchased when competition drives prices to within a drachma difference. Others will just dry up and fade away (pity the shareholders!). Partnerships, both within and outside the organization will make the difference. No longer can companies just hang a product out there for someone to walk by and purchase. Customer retention and service will make the difference. Naturally, my clients will be at the cutting edge of PROFITABLE e-Business ventures <smile>, but many companies are still trying to figure this one out! Many have departmental task forces or project teams developing and deploying prototype systems. Some are taking a divisional spearhead approach. Some are just sitting around thinking about it <frown>! The ones who are going to really succeed will take an old fashioned approach. “How can we make an honest profit in a Global Economy and what resources will be required to succeed?”. This is not brain surgery or rocket science; just a new business model evolving on the foundation of technology and communication infrastructure advances. We saw it with the light bulb, commercial air travel, and computers, now the Internet. The Internet is only providing the backbone infrastructure to support true Global Business. Now we do business 24/7. No down time allowed or the ‘deal’ will be missed/lost. Companies have to think GLOBAL and 24/7. National boundaries to business are falling all over the place and will continue to do so at an accelerated pace. As far as ‘activities’? Many are still trying to figure out how to process a purchase order electronically via Electronic Data Interchange (EDI). Others, who have mastered this approach, PROFITABLY, are proceeding ahead with the next logical step offered by technology: XML/EDI and web based communication structures. The losers are still tying to determine what EDI means! <grin> (Skip Stein, Management Systems Consulting, Inc., http://www.msc-inc.net/, Orlando, Florida, USA) |
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