Beyond the hype: ROI
Don't be fooled by the popular media: e-business for small and medium sized firms is not about the boom and bust of the dot coms. It's about return on investment (ROI).
Where is the ROI in E-Business?
For most small and medium-sized businesses, the greatest e-business ROI potential is in improved business-to-business relationships and internal processes.
Getting back to business basics
Small and medium-sized businesses should focus their e-business initiatives on traditional business functions. Target your business needs and opportunities, don't chase technologies. Look for savings through efficiency that can translate into profits.
Success factors
For e-business initiatives to work, you'll need: management commitment, a plan for handling change within your company, and properly trained employees.
Key Questions: Building an E-Business Strategy
Face it, it won't work without a strategy and an implementation plan. Here are some key questions to help structure your strategy.
This material is adapted from the SME E-Business Information Toolkit developed by the Canadian E-business Opportunities Roundtable, in which the Canadian Chamber of Commerce played a key role. The Roundtable's work is now being advanced by The Canadian E-business Initiative (CeBI). CeBI is a voluntary, private sector-led partnership that aims to further Canada's e-business success by focusing on productivity, leadership and innovation.
