Challenges of the company in the new economy and development of e-business strategy

• Main Authors: Angeloska-Dichovska Monika, Petkovska-Mirchevska Tatjana
• Format: Article
• Language: English
• Published: University of Novi Sad - Faculty of Economics, Subotica 2017-01-01
• Series: Strategic Management
• Subjects: e-business strategy; new economy; strategic analysis; changing behavior; internet consumers
• Online Access: https://scindeks-clanci.ceon.rs/data/pdf/1821-3448/2017/1821-34481702027A.pdf

The rapid development of technology and the Internet drastically alter both the consumers and companies' environment. The Internet is widely accepted by consumers, which manifestly changes their behavior. The rapid and profound changes in the environment, especially the technological changes, have a huge impact on the contemporary transformation of many business entities as well as on the adoption of new business models. The changeable and unstable environment in the new economy urges business entities not only to constantly adjust, but also to accept a strategic approach specific to their e-market performance. The new economy works by a different set of rules from the traditional economy, and brings new challenges for business. Therefore the need for strategic planning is imposed as an imperative, that is, the strategic access to the e-business environment, if companies want to survive and to develop on the newly created markets. The Internet and information communication technology provide better opportunities for businesses to establish distinctive strategic positioning. The purpose of this paper is to point out the procedures to be followed in developing an e-business strategy in the new economy. Developing an e-business strategy depends on the type of enterprise, industry, competition, consumer behavior, nature of application etc.