Originally published at: https://blog.12min.com/e-profit-summary/
High Payoff Strategies for Capturing the E-Commerce Edge
From winning a conflict to finding a new talent that can fulfill the tech role, and choose the perfect apps for your project.
This ultimate e-guide has it all.
Who Should Read "e-Profit"? And Why?The author of “e-Profit” - David Cohan emphasize the value of creativity, leaving you plenty of room for expressing your individual capacity. That’s why it’s not advisable to read this book read in a linear progression.
Each chapter forms a different spell of self-containment, covered by a series of tips that can be quite useful for almost any e-commerce problem. These units or applications are an integral part a comprehensive case study, which analyzes how one firm tried to solve a series of organizational issues, using only several tips.
The management team covers the hard part or the implementation of a comprehensive and long-term e-commerce project.
This book is specially designed for senior executives, leaders, change agents and managers who are in charge of the “electronic” operation. Nevertheless, it’s quite useful for all other individuals with a thirst for new knowledge.
E-commerce is a versatile segment; project managers, and marketing- consultants can also use “e-Profit” as a guide for increasing tangible and intangible benefits.
About Peter S. CohanPeter S. Cohan is an American-born businessman, author and the president of Peter S. Cohan & Associates.
This consulting firm enabled him to grow into the field of management by specializing in discovering new business opportunities.
"e-Profit Summary"Nowadays, the digital world imposes lots of obstacles on senior executive officers. Some of these are “do-or-die” kind of situations that any manager or decision-maker would find difficult to overcome.
E-commerce on the other side deals with tons of unique environmental possibilities. As a person battles his way through the digital era, it must get ready and gear up for any danger that may be lurking. Often, not many entrepreneurs, have the expertise to handle various types of challenges.
E-commerce decisions derive from a series of “go or no-go” scenarios, a perfect standpoint for any leader waiting for an opportunity to emerge. If you are among those or striving to become one, make sure that you are armed with information before you make the call.
To put in another way, profits don’t just fall off the sky. The strength of mind is key for overpowering these case, but the impact would be far greater if you are familiar with several concepts. The author of “E-Profit” identifies five critical concepts or analysis related to this issue:
- Strategic – balanced analysis,
- Market opportunity and competition analysis,
- Evaluation of risk – linked to e-commerce actions,
- Value assessment, and marketing plan
- Portfolio analysis and long-term projections
The shareholder value varies on different occasions; experienced leaders mustn’t be bothered by this in order to move forward. At first, it all starts by identifying the three-step analysis.
Afterwards, the company must assess all the market opportunities available at the moment. The support emanates from a highly-skilled management staff, and other close associates. Before anything happens, the firm must also identify all of the other intangible assets.
Thereupon, the second in command activity presents itself. Even though it’s perceived as a “runner-up,” choosing a set of e-commerce application to evaluate those assets is not such an easy task.
However, if the foundation is well-planned, the organization will not have any unforeseen difficulties. Last but not least, it’s the process of estimating how these e-commerce applications affect the whole business.
In other words, how these apps, provide value and increase the company’s profits. Perhaps, this is the most challenging part, due to various factors that can prevent you from measuring the impact. The intangible benefits can sometimes prove far more meaningful than any other measurable phenomenon. Here, the author lays four major types:
- Customer relationships - Web selling often is perceived as a tool for generating revenues and better order fulfillment.
- Customer information – Personalization, is a valuable asset to please your customers, or revenue per customer.
- Supply purchasing volume - Electronic procurement, lowers down the company’s operating costs due to volume discounts and reduced papyrology.
- Technical service information - Web support or self-service, enables the users to navigate through the website with greater ease.
Key Lessons from “e-Profit”1. The real value originates from a well-designed strategy 2. Transition is a lot harder than it looks 3. The process of choosing the best applications
The real value originates from a well-designed strategyE-profit comes as a consequence of multiple actions; these activities are associated with qualified personnel.
In case of good awareness, the company will spot those unwanted factors soon enough to react, but that’s just an exciting fairy tale. The reality is much more demanding.
Transition is a lot harder than it looksWhat is more difficult than alter the old-way of doing business? The shift doesn’t come naturally with time, as many would assume.
Often, the change derives from external threat or internal initiatives, in either case, two actions are crucial - Lead and Sustain.
If you manage these two, it would be like shooting fish in a barrel.
The process of choosing the best applicationsBefore any implementation takes place, a company must choose the best apps for the task.
For this reason, the firm must develop a selection plan that will present all the potential candidates for the job.
It’s evident that the concept must take it into account the environment, that can in one way or another affect the whole process.
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"e-Profit" Quotes[bctt tweet="Companies must rethink whether or not their entire human resources strategy is appropriate for winning the war for talent." username="get12min"]
[bctt tweet=“Despite the hype, the Internet does not change everything.” username=“get12min”]
[bctt tweet=“Companies must become better at creating value for customer.” username=“get12min”]
[bctt tweet=“The best way to sustain change is to create a culture that rewards change.” username=“get12min”]