|
Hyper
Wars, by Bruce Judson and Kate Kelly,
is one of the best business books on e-commerce today. It is a must-read book
for those wishing to understand how to join and survive in the increasingly
hyper-competitive business environment brought about by the e-commerce frenzy.
A very insightful book, it contains clear
explanations on how the introduction of the World Wide Web has changed the
business landscape. The Web is changing the business landscape in fundamental ways.
The authors
present the basic business principles that could potentially hold true in the
fast-evolving environment. The book explains how the Internet can and must be
incorporated into all of a business’s operations – from cutting procurement,
marketing and communication costs to deepening customer relationships. With the
increased level of competition, which the authors termed as “hyper wars”,
companies need to continually create new, different, and better products to stay
one step of the competition and survive in the cutthroat environment.
Basically, the book provides eleven
practical strategies to survive and profit in the era of online business. These
strategies are outlined below:
- The
Internet is fundamentally a new communications vehicle; use it as the
world’s most sophisticated telephone.
- Speed
is everything: it must be integrated into all aspects of a company, from its
decision-making process, its training, its attitude toward risk and failure,
as well as its management style.
- Aside
from generating revenues, another important aspect in using the Internet is
to reduce costs. Many companies are profiting from the Internet, not because
of the revenues it gains them, but for the cost savings that the new medium
allows them.
- A
successful product today requires something more: a commitment to providing
a great product and using smart strategies to engage the
consumer.
- The
Internet should be used to create highly personal experiences for web site
visitors. Companies must find the best ways to personalize selling and
customize products in order to build businesses.
- Create
the “total solution” for your customer, sending the message that “you
don’t need to shop anywhere else.” Think Amazon and how it expanded from
a bookseller to a seller of anything and everything.
- Market
relentlessly: success will depend on mastering the type of marketing
involved in engaging visitors at your site.
- The
word “free” takes on a more powerful meaning on the Internet. Given the
different sales environment on the Internet where shoppers can move from
site to site, offering a “free” product can help establish a
“relationship” with potential customers. When they are ready to
purchase, they are inclined to buy from the company they know.
- Business
plans are more essential than ever. Winning companies will have developed a
vision of where they intend to be going, and this blueprint will allow them
the flexibility to respond appropriately when the unexpected occurs.
- Flexibility
is key: successful companies must need the ability to recognize when it is
time to change. Reacting to the unanticipated will be key to survival.
- Never
stop looking over your shoulder. Success requires that companies remain ever
vigilant. Whether your business is large or small, you need to prepare for
the day when another company tests your vulnerability.
An excellent feature of the book is its
hundreds of examples of Internet initiatives real companies are implementing
today, from American Airlines, Clinique, Fruit of the Loom, UPS and many, many
more. It presents why Quicken, for
example, is successful in retaining a loyal user base.
The book shows how companies experimented, managed, responded, failed and
succeeded in their online strategies. These examples are valuable learning tools
for those planning to learn to participate in this hypercompetitive environment.
As
the blurb on the book’s cover says, Hyper Wars is “the most comprehensive
and solution-oriented guide to navigating the new business environment created
by the Web.”
====
|
