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Posted: February 24th, 2022
In Chapter 9 of your textbook, the authors list and describe the seven steps for a successful e-commerce strategy
In Chapter 9 of your textbook, the authors list and describe the seven steps for a successful e-commerce strategy. Choose a brick and mortar company that has not yet transitioned to e-commerce. Which of the e-commerce strategies do you think would be the most challenging for your chosen business? Why? 7 strategies below.
• Pick your partner carefully: Picking a partner must include consideration of more than potential strategic complementarity and resource contributions. Alli- ance partners must believe that they can trust each other, and they must believe that mutual commitment is possible.
• Know your strategic goals and those of your partner: Mutual revelations of strategic goals build a crucial step in the trust cycle and allow partners to real- ize early in the relationship whether they can commit to each other’s goals. How- ever, alliance partners must realize that strategic goals for the ICA or IJV may change.
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• Seek win-win situations: To achieve and maintain mutual commitment in an alliance, each side must gain something of importance from the relationship. Although the outcomes from the alliance need not be the same, both sides must perceive them as a fair exchange if commitment and trust are to evolve.
• Go slowly: Participants in international strategic alliances must realize that pro- blems arise and take time to work out. Trust and commitment develop in cycles, not necessarily all at once.
• Invest in cross-cultural training: As in all international ventures, managers with cross-cultural sensitivity and language competence will likely have more success in understanding their partners’ needs and interests. Quality cross- cultural interactions between partners’ employees enable them to avoid conflict and misunderstandings, leading to greater trust and commitment.
• Invest in direct communication: To overcome national, business, and organi- zational cultural differences, alliance partners are more successful at building trust and commitment when they deal with issues face to face.
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• Find the right level of trust and commitment: Exhibit 9.8 shows the tradeoff between the vulnerability that comes with trust and commitment and their benefits.
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