E-Business Strategy Session 7 - Metrics

Scope of Metrics
In this scope Metrics provide framework system to periodically assess the health of an online business. Metrics are usually specialized by the subject area, in which case they are valid only within a certain domain and cannot be directly benchmarked or interpreted outside it.
The metrics framework is composed of five categories of metrics: market opportunity, business model, marketing and branding, implementation, and customer. These measurements or metrics can be used to track trends, productivity, resources and much more. Typically, the metrics tracked are key performance indicators.
Metrics are important in online business, the suggestion the process for approaching the e-business health and performance:

Performance Benchmarking
The goal is to improve financial and operating performance on e-Business Company. The way how to gain the result is to measure client performance and compare to that of peers and determine competitive industry position for client. The process of Performance benchmarking can be done by revealing and quantifying areas of strength and weakness through comparison of Key Performance Indicators. It is expected that the respective e-Business company can develop strategies that improve areas of sub-par performance while continuing to build upon areas of strength.

Balance Score card
Implementing a Balanced Scorecard is a corporate life-changing event. It should not be viewed as a project initiative, but rather as a way of doing business. Done correctly, the Balanced Scorecard provides a template for business leaders to align day-to-day tasks with overall corporate objectives. It creates direct measurable links between strategies and performance for multiple constituencies in e-business company by evaluating performance from four perspectives: financial, customer, business processes and learning. To develop metrics is critical to success for each perspective and compare to performance standard on a Scorecard. Expected result is the alignment of corporate strategies and accountability for achieving goals in the four perspectives.

Online Surveys
Most research on changes in category performance focuses on historical product movement. Our customized online surveys focus on both historical and projected growth trends, in ways that lead to solid marketing and Profit Improvement growth strategies. Our Goal: Develop market insight, through analysis of collected data that will drive improvements in category marketing strategies, and increase profit potential for retailers and suppliers.
Our Approach: Conduct online surveys that are easy for participants and that will collect sufficient relevant data for insightful analysis.
Our Process: Analyze data with cross-tabulated responses that will reveal marketing strengths and weaknesses of the category and of suppliers’ marketing programs.
Results: Develop management report that presents key findings for tall topics surveyed; report is presented to retail participants and suppliers in roundtable format and/or electronically.

Business Planning
Most companies don’t plan to fail especially e-business company, but often do fail to plan. Over 90% of new business ventures fail within five years, often as a result of inadequate planning for resource and operational needs.
The value of going through the planning process is often as valuable to clients as the plan itself, as it stimulates constructive discussion among the management team. The final product of effective business planning is a plan that is challenging and achievable.
Our Goal: Create optimum success opportunities for clients through structured business planning.
Our Approach: Identify goals and the resources available to achieve them.
Our Process: Develop success measures and systematic approaches for achieving goals.
Results: A written business plan that achieves current goals and positions client firm to achieve future goals.