A review and discussion of "Beware The Internet Panacea: How Tried And True Strategy Got Sidelined", by L.C. McGrath and R.A. Heiens.
Written in 2006; 675 words; 1 sources; $ 26.95
Paper Summary:
This paper reviews the article, "Beware The Internet Panacea: How Tried And True Strategy Got Sidelined" by McGrath and Heiens. In the article the authors characterize the Internet and e-business initiatives as merely business tools that are to be deployed as any other business tool would be. The contention of this paper is that this characterization is simplistic and shortsighted.
From the Paper:
"In a recent article entitled, "Beware The Internet Panacea: How Tried And True Strategy Got Sidelined," (McGrath & Heiens, 2003) the authors provide some strong explication on how strategy and the internet vis-?vis e-businesses should be considered. Yet, at the outset of the article the authors make an observation that demonstrates that even their academic conception of the internet and e-business might be somewhat impaired. McGrath and Heiens make the comment that, "the numerous Internet start-ups that wound up on the scrap heap of business failures are testament to the fact that the Internet is merely a tool, not a panacea, and...sound business strategy is always a prerequisite for success" (2003, para.1). While there can be no argument that there is no substitute for sound business strategy based on traditional business imperatives, their comment characterizing the internet as merely a tool is shortsighted."
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