Profits are back in style, as opposed to the share price-oriented nature of many online ventures of the past two years or so, and projects must be based on firm investment returns rather than the vague hope of future revenue gains. But, as consultants report, the way companies set strategies and the means they adopt to implement them have changed considerably. This in turn has altered the shape of the consultancy market, where almost every activity involves some aspect of e-business. At the height of the dotcom bubble, normal business arguments didn't seem to apply. Thus, those companies which were not swept up by online enthusiasm can be excused a certain smugness.
Profits are firmly back at the centre of e-business mod els.
But the internet has opened up enticing new horizons. This will enable them not just to cut costs but, more importantly, to tap new markets, attract new customers and interact more effectively with suppliers and partners. To realise these benefits, companies must focus hard on strategy but be highly flexible about how to implement it. This is because the internet has put a tremendous premium on speed. Companies must be prepared to embark on a range of projects aimed at strategic goals, but drop some of them rapidly if necessary.