YET ONE MORE LETTER IN BUSINESS TODAY….
MY LETTER IN BUSINESS TODAY ISSUE DATED 7TH JUNE 2015 (With Kishore Biyani on the cover)
Who Will Win the Battle Royale?
This refers to your cover story on e-commerce business (Fight to the Finish, May 24). Your team’s prophecy – in the long run each market segment will have only one winner – seems to be like the replay of Charles Darwin’s Theory of Evolution. The phrase “survival of the fittest” had originated from this theory, describing the mechanism of natural selection. In the e-commerce business, a “fit” venture obviously refers to the one that has best adapted to the current environment, of not only satisfying the customers but also delighting them so that they continue to be loyal supporters and contribute towards growing the venture’s brand equity, too. It will be more interesting to see which way the business pie crumbles, who wins the battle royale, and who occupies the proverbial “kursi” ultimately.
– J.S. Broca, New Delhi
THIS IS WHAT I HAD WRITTEN:
This refers to your exciting cover story titled “E Commerce Battlefield” (BT 24TH May 2015).
Your E-Commerce study team’s prophecy that in the long run, each market segment will see a fight to finish and eventually each will have only one winner, seems to be like the re-play of Charles Darwin’s controversial Theory of Evolution published more than 150 years ago. Some politicians and religious leaders still denounce it and invoke a higher being as a designer to explain the complex world of living things, especially such specimens as humans. Only the present context now refers to the E Commerce business developed by the humans.
“Survival of the fittest” is a phrase that had originated from the above theory as a way of describing the mechanism of natural selection. It is more commonly used today, to refer to a supposed greater probability that “fit” as opposed to “unfit” companies will survive after passing through rigorous tests. In E Commerce, a “fit” venture obviously refers to the one that has “best adapted to the current environment,” of not only satisfying the customers but also delighting them so that they continue to be loyal supporters and contribute towards growing the venture’s brand equity too.
Another common prediction regarding E-Commerce Business relates to the probable similarity with the historic dot-com bubble or the dot-com collapse during the years 1997–2000. The period was marked by the founding as well as spectacular failure of several new Internet-based companies commonly referred to as dot-coms. Companies then had caused their stock prices to increase by simply adding an “e-” prefix to their name or a “.com. Now the “E” in E-Commerce refers to ‘Electronic’ and several players are in the field battling for survival.
Your team’s reports on each of the five E Commerce segments makes very interesting reading but it will be more interesting to see which way the business-pie crumbles, who wins the battle royal, who loses his shirt of his back first and who occupies the proverbial “kursi” ultimately. We can only hope and say: “May The Best Company Win!”
J S Broca , New Delhi
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