Due to the overwhelming amount of information in a networked world, the emphasis on IT research and practice has shifted from producing information to controlling and managing it. Competitive advantage goes to the intelligent and agile organizations. Competitive advantage is goes to the intelligent and agile organizations, and only those that have mastered the arts of discovering new value propositions, nurturing customer relationships, and executing their core functions rapidly and faultlessly will survive. How quickly an organization achieves this advantage depends on its ability to assemble information quickly and then effectively act on it.
You know what I think about e-business strategy? According to e-commerce analytics firm, Ever Merchant, e-commerce generates almost 2 and a half million dollars every minute.. Think about that number for a second: Two and a half million dollars. Almost two million of those sales are done over the desktop, while the remaining 500 thousand dollars are generated over mobile device. Almost 1.4 million dollars is spent on credit, debit, prepaid, and store cards, and just over a million dollars are alternative payments, like e-wallets, direct debits, bank transfer, or cod. It’s not surprising that Amazon soaks up almost 200 thousand dollars a minute all by itself, while eBay does 150 thousand, and Apple processes about 36 thousand dollars every minute. And let’s not forget social media, which generates a ton of sales, with Facebook bringing in 11 thousand dollars a minute, and Pinterest and Twitter bringing in just under 10 thousand, each. Without a doubt, the Internet is a powerful tool to facilitate commerce, but to be truly effective, it must be in the forefront of business strategy.
You know what I think about supply and demand? This podcast was inspired by my brother who had to take an unexpected trip and was forced to purchase an airline ticket the day before the needed flight. So, he was lamenting the high price of the ticket, and after some good-natured ribbing about his studying Political Science in college instead of Economics, we discussed what he considered price gouging was really nothing more than simple supply and demand.