For legacy businesses to succeed in the new economy, they will need to develop eBusiness strategies. The term eBusiness has emerged as a means of describing the ways in which businesses have transformed their business models to compete in the new economy. We at ESS believe that a successful eBusiness strategy and implementation is critical for companies to ensure relevancy in the new economy. Our eBusiness strategy consists of a portfolio approach in which we simultaneously invest in three opportunity spaces:
Transporting the existing legacy business into the digital domain through initiatives like eSales, eMarketing, eProvisioning, eCare and eSupply.
Using Information Technologies to create new digitally enabled business models around existing products and services where the value of these services is directly tied to the information being exchanged.
Using Web Technologies to create fundamentally new products, services or competencies.
We see the Internet as the first incarnation of a low-cost, ubiquitous global network that supports rich, multimedia exchanges of digital information. In this new economy, we see Internet technology not merely as an enabler, but as a driver more accurately the driver of business model.
We have identified this paradigm shift early, which is reflected in the way we approach the Internet. We have the right answers for questions asked by Industrial Age Corporations or Internet Startups:
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How do I incorporate the Internet into the existing business model?
How do I build an entirely new business model around the Internet?
We have successfully addressed to the initiatives of the Industrial Age businesses in transporting their existing business models into the digital domain and building solutions around new business models for Internet Startups under the banner of eCommerce.