Social Evolution

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Evolution of Business

There are four important areas in the process of evolving from a business into an e-business. These four stages are collectively known as the e-business cycle. There isn't a pre-defined order to the cycle. A successful e-business can start at any point. However, the first step is identifying which of the core business processes are most suitable for, or most in need of, conversion to e-business.

Customers are the key ingredients of success and the best place to start conversion to e-business is with customer relationship management.

Customers are the basis of any business and by developing a loyal customer base and by improving customer interactions and internal business processes then a loyal customer base will be developed.

To improve customer interactions and internal business processes you need to look at individual processes that contribute to the overall customer experience. These include Customer Relationship Management.

E-business leverages the Internet to integrate and transform these processes into a single efficient system.

It is "building customer loyalty through better customer service" and it involves supporting, developing and retaining profitable customers.

By giving customers controlled access to data they need you can provide quality self-service for customers and not only manage your relationship with customer but give them ability to manage their relationship with you.

As a place for direct retail shopping, with its 24-hour availability, a global reach, the ability to interact and provide custom information and ordering, and multimedia prospects, the Web is rapidly becoming a multibillion dollar source of revenue for the world's businesses.

Growth of e-commerce

The business -to -consumer market was estimated by International Data Corporation ("IDC") to have been $15 billion in goods and services in 1998, IDC projects that the B2B e-commerce market will grow from $35 billion in goods and services in 1998 to over $1.1 trillion by 2003.The benefits povided by e-commerce has contributed significantly to its growth. Improving both the customer and supplier realtionships as well as increasing efficiency and reducing cost.

Improving Customer and Supplier Relationships

Customer and supplier relationships in a traditional business would be hindered by the time and cost required to communicate current information, locating new customers and suppliers and maintaining existing realtionships. E-business can make it easier to attract new customers and suppliers and increase Return on investment.

Increase Efficiency and Reduce Cost

This is done through the automation of business critical processes. Increasing the operational efficiency and reducing the time, cost and resources required to transact business.

Bringing your E-Business Together

Want to build a billion-dollar business?

Think big. Think exponentially--shoot for 200 percent growth vs. 20 percent.

Do the unconventional. No one ever became a billionaire doing what "everyone else" is doing.

Believe in yourself and your idea. If you're unwavering in your belief, you'll infect all those around you.

Share your vision. Tell everyone what you plan to accomplish. Some will help.

Execute. Get off the couch. Great ideas are a dime a dozen.

Focus. Do one thing extremely well. Multitasking is multistupid.

Never give up. Every successful person achieved that status after plowing through tough times and failures.

There is another option.

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