For an existing `brick and mortar company' opting for an Internet strategy too, there are important issues that need to be carefully looked into. In case the proposed online business has little to gain or lose from the company's current business for example, it's logical to keep the online business separate from the existing one.

The company must opt for an Internet strategy that does not adversely affect or undermine its current business. Finally, in the case of a group of companies, the proposed Internet unit's activities need to be coordinated across the group.

In conclusion, therefore: firms of the future are likely to be driven by five different forces of competitive advantage, viz, people, ideas, network, positioning and profits/revenues. It is evident that eventually, only those companies will survive which give value to customers repeatedly using these competitive forces optimally. This may be accomplished by having a good management policy, foolproof business and revenue models and the vision and ability to quickly adapt to market changes.

There can be no doubt about the immense power of the Net and the huge opportunities thrown open by it. At the same time, it is equally evident that a shakeout in Net-based companies is imminent in the near future - which will weed out most of the smaller players - through closures, acquisitions, mergers, partnerships, etc. However, by taking adequate steps to build in operational resilience and security in the system, Net-based companies can significantly mitigate or completely prevent the impact of failure, and thereby avoid an early death.

Concluded Ramesh PC, Senior Industry Analyst, Itspace.com