Strategy plays a vital role in any business. E-Tailing helps businesses to devise Strategy. These Strategic Document helps businesses to build a competitive edge in an agile economy. The process involves market research, competitive analysis, online trend analysis, and other tools.
A good example of a strategy is Hornby Railways.
About 15 years ago, the iconic British toy company Hornby Railways — maker of model railways and Scalextric slot car racing tracks — was facing bankruptcy. Under the new CEO, Frank Martin, the company decided to change course and focus on collectors and hobbyists instead. As a new strategy, Martin aimed (1) to make perfect scale models (rather than toys); (2) for adult collectors (rather than for children); (3) that appealed to a sense of nostalgia (because it reminded adults of their childhoods). The switch became a runaway success, increasing Hornby’s share price from £35 to £250 over just five years.
Henceforth, the strategy developed by E-Tailing is flexible, tolerant and consistent. With our years of experience, we keep the room for all predictable and unpredictable challenges during the short and long run. It is not just the technology that surprises business, but its market, customer, vendor, occasion and sometimes even the strategy develop itself becomes a road blocker.
Some of the key principles we practice are
- A strategy is a guideline for execution and not a rigid document
- Inclusiveness in Strategy is vital for business growth
- Business Sustainability has become inevitable these days
- Holistic approach in Strategy can lead to few risk and surprises
At E-Tailing we practice bottom to top approach Here we end-user and the chain leading towards the CEO of the company, rather than just considering management. Read more about Strategy@Work