LESSON 1: INTRODUCTION TO ELECTRONIC COMMERCE

1.1. Vocabulary
A. Useful language
Internet Revolution: Cuộc cách mạng Internet
The World Wide Web (www, or the Web), a user-friendly information-sharing
network system, quietly came into being and began to spread
Worldwide distribution channel: Kênh phân phối trên toàn thế giới
The methods used by a company to deliver its products or services to the end
consumer
Consumer segmentation: Phân khúc người tiêu dùng
The process of grouping customers according to how and why they buy
Consumer value: Gía trị tiêu dùng
How much a product or service is worth to a customer
Consumer behaviour: Hành vi người tiêu dùng
The decisions that people make to buy or not to buy a product, and the things
that influence their decisions
Labor market: Thị trường lao động
The place where workers and employees interact with each other
Computer network: Mạng máy tính
A group of interconnected nodes or computing devices that exchange data
and resources with each other
E-business: Kinh doanh điện tử
The business of buying and selling goods and services on the internet, or a
particular company that does this
Electronic transaction: Giao dịch điện tử
A process of exchanging electronic data within computer-mediated networks
Digitization: Số hóa
The process of converting information into a digital format
The ordering system: Hệ thống đặt hàng
The programs that take our forecasts, actual orders, safety stock, and, and
order quantities, and turn them into purchase orders or production orders
The processing: Qúa trình xử lý
The act of taking something through a set of prescribed procedures.
The shipment method
Pure EC: TMDT thuần túy
Business transactions conducted entirely online or in a digital environment
Partial EC: TMDT 1 phần
A type of e-commerce that allows customers to purchase products and
services online, but also have the option to pick up the product or service at a
physical store.
Brick-and-mortar organization: Tổ chức truyền thông
Existing as a physical building, especially a shop, rather than doing business
only on the internet
Virtual organization: Tổ chức ảo
One whose employees are spread geographically and communicate via phone,
email, and the internet.
Click-and-mortar organization: Tổ chức Click-and-mortar
A business model that combines both online and offline channels for business
operations
E-marketplace: Chợ điện tử
A virtual online market where organisations register as buyers or sellers to
conduct business-to-business e-commerce over the internet
Intranet
a private network contained within an enterprise that is used to securely
share company information and computing resources among employees.
Extranet
 A system of computers that makes it possible for a company and people
outside the company to communicate and share information over the internet

B. Match these phrases to their meanings

1 extranet a conduct their business activities solely

online
2 e-marketplace b uses Internet tools, such as Web
browsers, and Internet protocols
3 virtual organizations c refers to business transactions
conducted entirely online or in digital
environment
4 click-and-mortar d the process of converting information
organization into a digital format
5 intranet e the customer's perception of the worth
of your product or service
6 consumer segmentation f conduct some e-commerce activities,
usually as an additional marketing
channel
7 pure EC g uses the Internet to link multiple
intranets
8 e-business h where buyers and sellers meet to
exchange goods, services, money, or
information
9 e-commerce i any process that a business organization
conducts over a computer-mediated
network
10 digitization k the buying and selling of goods and
services, or the transmitting of funds or
 data, over an electronic network
11 customer value l the process of grouping customers
according to how and why they buy
12 Internet Revolution m the study of how individual customers,
groups or organizations select, buy, use,
and dispose ideas, goods, and services
13 consumer behavior n Between 1993 and 1995, the World
Wide Web a user-friendly information-
sharing network system, quietly came
into being and began to spread.

C. Complete these sentences with word partnerships from Exercise B

1. An intranet is a private network that connects devices and computers within an
organization.

2. Consumer behavior types are determined by what kind of product a consumer

needs, the level of involvement, and the differences that exist between brands.

3. E-commerce includes activities like buying and selling product, making monetary
transactions etc over internet.

4. Apple's iTunes is an excellent example of a digitization company that is already

running.
-> Apple's iTunes is indeed an excellent example of a digitization company that is
already running. It revolutionized the way music, movies, and other digital media are
distributed and consumed, paving the way for the digital transformation of the
entertainment industry.
5. E-business are e-commerce companies and its various internal business activities,
auction site, classified site, software and hardware developer site etc.
6. A Virtual organization is one whose employees are spread geographically and
communicate via phone, email, and the internet.

7. eBay is an E-marketplace that allows you to sell your goods or find them.

8. For businesses, one of the main advantages of the Click-and-mortar organization

is that websites have a further geographic reach than physical, offline shops.

1.2. Reading
The Great Amazon Success Story: Journey From A Garage Bookstore To Trillion
Dollar Empire
By: Tarun Sikder
No business can be successful without a digital presence in this day. The e-commerce
industry is a cut-throat industry, and only those with a strong online presence thrive
and succeed in it. But one company that happens to start off from a mere bookstore
has now become the biggest and the most successful eCommerce brand in the
world. Amazon's success didn't come overnight. For its success, it had to conquer
and do the unthinkable. It took some really hard steps down the way and stuck to a
strict moto to turn its eCommerce business into a money-making machine. Many
people think they have been able to achieve this position through its innovative
ideas, customer-centric strategy, and its ability to change the world of eCommerce.
But in reality, there is a lot more than it had to take to reach this height.

(1) History of Amazon as An eCommerce Brand

The Amazon website, which was founded in 1995 by Jeff Bezos, is a global e-
commerce company that sells billions of products every year across more than 190
countries. Amazon has now slowly become one of the most popular eCommerce
brands in the world. It is a household name and has been around for more than two
decades. Amazon started off as an online bookstore and then expanded to sell DVDs,
CDs, and eventually other products. Amazon is the largest book-seller in the US.

(2) Beginning of Amazon's Success Journey

Journey of Amazon began in 1994 in a home office in Seattle when Jeff Bezos quit his
job on Wall Street to start his innovative project. Amazon was originally called
“Cadabra.” The name actually came from one of the internet’s earliest pioneers who
coined the term “cadabra” meaning “it’s possible”.

The innovative idea behind the company came about after Amazon Chief Executive
Jeff Bezos had a visionary experience where he saw a bunch of buildings floating on
the ocean.

(3) Why Was Amazon So Successful

Amazon Success Story over the years is based on a number of key factors. In fact,
there are many reasons why Amazon was so successful. One reason is that they were
one of the first companies to really capitalize on the power of the internet. They
were able to build a massive online presence early on and then use that to their
advantage.

Of course, for businesses to be so successful, there are so many factors that must be
taken into consideration and Amazon did just what was important. Some of the
common factors include:

 Simple to use and seamless interface to manage all your eCommerce needs in
a single, accessible platform.
  A leading eCommerce platform with a growing client base of more than
100,000 e-commerce clients and top-rated customer service.
 Customization options in every aspect of your business to your liking. You can
even change the font and color of your site.
 The convenience of shopping from your iOS or Android smartphone or tablet.
 Specialization in all eCommerce verticals and markets.
 Extensively used by sellers to manage their business and increase sales.
 Used by leading marketplaces, eCommerce sellers and brands.

(4) Focus on Putting Customers' Service First

When it comes down to Amazon and top-notch customer service, the company has
set itself apart as a go-to online store when it comes to shopping. With fast and
reliable delivery times, cheap yet high-quality products, secure and convenient
payment methods, plus the option to replace damaged or lost orders should the
need arise.
Amazon is now becoming a household name and deserving of its success all because
they have managed to focus on the one thing that matters most here: Consumers are
always King!

(5) Availability of a Wide Range of Products

Amazon sells a huge number of different products. They have categories for
everything from clothing to electronics, so it's easy to find something that works for
you. You can see their selection over at Amazon or buy from a third-party seller on
their site.
(6) Cutting-edge Technology
Amazon has a wide understanding of modern technology and implements it into its
business model. For example, Amazon's recent product offering, the Amazon Echo, is
a voice-controlled device that allows you to request music be played, hear the news
and traffic reports, control your TV set, listen to podcasts, and much more!

(7) Promise to Deliver Goods Quickly

Amazon’s shipping speed is consistently fast and reliable, but it depends on the
customer’s geographical location. For those paying a little extra a month, Prime
members get two-day shipping extensions, with some orders arriving even on the
same day.
Packages also include tracking numbers which allow customers to check the status of
their order wherever they are at any given time.

(8) Innovative Sales Strategies

Amazon has had a lot of success with its online marketplace, Amazon.com. They
recognized the potential to expand their business outside of their website and thusly
opened up several more storefronts in physical locations such as Kohl’s, making it
easy for customers who prefer to shop outside of the internet. By doing so, they can
sell a variety of their own brand products from their own produce or snack food line
or have sales on any customer returns on-site at said location.

A. Match the headings with the paragraphs

a) Promise to Deliver Goods Quickly
…………………………………………………………………………………………..
b) Availability of a Wide Range of Products
…………………………………………………………………………………………..
c) Innovative Sales Strategies
…………………………………………………………………………………………..
d) Focus on Putting Customers' Service First
…………………………………………………………………………………………..
e) Why Was Amazon So Successful
…………………………………………………………………………………………..
f) Beginning of Amazon's Success Journey
…………………………………………………………………………………………..
g) Cutting-edge Technology
…………………………………………………………………………………………..
h) History of Amazon as An eCommerce Brand
…………………………………………………………………………………………..

B. True or False
1. Amazon is the largest book store in the world. T
2. Amazon.com was almost called “Cadabra”. T
3. The reason for Amazon Success is that they were one of the first T
companies to really capitalize on the power of the internet
4. Amazon started off as an online bookstore and then expanded to T
sell DVDs, CDs.
5. Amazon’s shipping speed is consistently fast, reliable, and F
complimentary.
6. Amazon will open brick-and-mortar stores to accommodate T
customers who want to shop in-store.

C. Answer these questions

1. Why is customer service at Amazon highly regarded?
 the company has set itself apart as a go-to online store when it comes to
shopping. With fast and reliable delivery times, cheap yet high-quality products,
secure and convenient payment methods, plus the option to replace damaged or lost
orders should the need arise.
2. How can customers check the status of their order?
Packages also include tracking numbers which allow customers to check the
status of their order wherever they are at any given time.
3. What does the amazon marketplace provide customers around the world?
Amazon sells a huge number of different products. They have categories for
everything from clothing to electronics, so it's easy to find something that works for
you. You can see their selection over at Amazon or buy from a third-party seller on
their site.

1.3. Language review

Word order and focus
A. Noun
Identify a noun in a sentence

Suffix Example Suffix Example

1 -ion Production 6 -er Teacher,

Possession -or Doctor,
-ist Dentist,
-ee Employee,
-eer Volunteer

2 -ness Willingness 7 -ism Capitalism

-ence Difference -ship Membership

3 -ance Importance 8 -hood Childhood

4 -ment Agreement 9 -th Depth

5 -ity Security 10 -dom Freedom

Noun positions

1. The subject or object of the sentence.

Pollution is harmful to our health.

2. After adjectives or possessive adjectives

His mother is a good teacher

3. After articles (a, an, the), demonstrative pronouns this, that, these, those….)
The dolphin is an intelligent animal.

4. After quantifiers
Didn’t you borrow some books of mine?

5. After prepositions
The carpenter build the fence around the garden

B. Adjective
Identify a noun in a sentence

Suffix Example Suffix Example

1 -able Available 7 -ent Dependent

 -ible Possible -ant Important

2 -ive Active 8 -al Musical

3 -ous Famous 9 -ful Beautiful

4 -ic Realistic 10 -less Careless

5 -y Wealthy 11 -ing Interesting

6 -ly Friendly 12 -ed Excited

Adjective positions

After To be, linking verbs…

+ Be: am/is/are/was/were/been
Ex: The girl is beautiful
+ Linking verb: look/seem/smell/find/taste/sound/feel…
Ex: The plan seems feasible.
+ Stay/remain/become
Ex: Since she was a singer, she has become beautiful

Before noun:
Ex: He’s an excellent president

C. Adverb
Identify an adverb in a sentence
Trạng từ có thể nhận biết qua hậu tố: -ly
Perfectly differently carefully
Adverb positions
After or before verbs
Ex: He accurately entered all the data.
Before adjective
Ex: It is a highly innovative design.
Before adverb
Ex: He behaved extremely badly.

D. Verb
Identify a verb in a sentence

Suffix Example
1 -en Widen
2 -(i)fy Simplify
3 -ise Realize
-ize
4 -ate Activate

Verb position
After subject
Ex: She teaches English

PRACTICE
1. Because there is a need for ……………… repairs, the Paliot 12Z conveyor belt is
scheduled to be replaced by a more efficient model.
(A) frequent (a) và (v)
(B) frequently (adv)
(C) frequency (n)
(D) frequents (v)

2. Any problems with the new software system should be reported to the system
administrator ………………
(A) prompt
(B) promptness
(C) prompts
(D) promptly

3. Because of a ……………… increase in profits this quarter, Tyro Sportswear

employees will receive their first-ever year-end bonus.
(A) dramatically (adv)
(B) dramatize (v)
(C) dramatic (a)
(D) drama (n)

4. Amonarth Premium paints are highly ……………… to most stains and can be cleaned
easily with soap and water.
(A) resistance (n)
(B) resisted (v)
(C) resistant (a)
(D) resists (v)

5. ……………… demonstrating an impressive work ethic, Ms. Hyun often takes on extra
projects in addition to her regular workload.
(A) consistently (adv)
(B) consistency (n)
(C) consisted (v)
(D) consistent (a)
6. In her latest article Earthbound Science Journal, ecologist Mei Ling offers a
……………… review of Paul Winthrop’s research on drought resistance.
(A) critic (n)
(B) critical (a)
(C) criticize (v)
(D) critically (adv)

7. Major industries in this district include food processing and aircraft ………………
(A) manufacturer
(B) manufactures
(C) manufactured
(D) manufacture

8. Evergo’s latest hiking shoe, the Rugged Wear Trekker, is ……………… named for its
durability and strength.
(A) suitably (adv)
(B) suitable (a)
(C) suitability (n)
(D) suitableness (n)

9. Since employees often have to meet with clients with no prior notice, Park Interior
Design requests dress code ……………… at all times.
(A) compliant (a)
(B) compliance (n)
(C) comply
(D) complies (v)
10. Ms. Yasuda’s ……………… in managing difficult projects has earned her respect
from colleagues and company officials
(A) succeed
(B) success
(C) succeeds
(D) successful

11. Customers with concerns about the safety of the product are advised to call the
……………… as soon as possible.
(A) manufacture
(B) manufacturing
(C) manufacturer
(D) manufactured

12. Tonight’s performance is ……………… to raise awareness about our city’s urban
renewal initiative.
(A) intend
(B) intended
(C) intention
(D) intending

13. The ……………… outlay of assets for the construction of the new street car lanes
has been cited by newspapers as the main course of the project’s dismissal.
(A) initially
(B) initiate
(C) initiation
(D) initial
14. While the engineering team’s ……………… has improved, overall productivity has
been in a noticeable decline for the past three years.
(A) motivate
(B) motives
(C) motivational
(D) motivation

15. Local libraries ……………… offer reading programs for children and ESL for adults.
(A) frequently
(B) frequenting
(C) frequent
(D) frequented

1.4. Discussion
A. Work in group:
1. What are the significant advantages e-commerce brings to customers in your
country?
E-commerce offers several significant advantages to customers in many countries,
including:

Convenience: Customers can shop from the comfort of their homes, avoiding the
need to travel to physical stores. They can browse products, compare prices, and
make purchases at any time of the day or night.

Wide Selection: E-commerce platforms provide access to a vast range of products

from various sellers and brands, allowing customers to find exactly what they're
looking for without limitations imposed by physical store inventories.
Price Comparison: Online shopping enables customers to easily compare prices
across different sellers, helping them find the best deals and discounts.

Accessibility: E-commerce breaks down geographical barriers, allowing customers to

access products from around the world that might not be available locally.

Time Saving: Shopping online reduces the time spent commuting, parking, and
navigating through crowded stores, leading to a more efficient shopping experience.

Reviews and Ratings: Customers can read reviews and ratings from other buyers,
helping them make informed decisions about the quality and suitability of a product.

Personalization: E-commerce platforms often use data-driven algorithms to suggest

products based on a customer's preferences and purchase history, enhancing the
shopping experience.

Easy Payment: Online payments make the checkout process quick and hassle-free,
with various payment methods available, including credit cards, digital wallets, and
online banking.

Home Delivery: E-commerce offers convenient home delivery options, saving

customers the effort of carrying bulky items and making it especially useful for those
with mobility challenges.

24/7 Availability: Online stores are open around the clock, providing customers with
the flexibility to shop whenever it suits their schedule.

Access to Information: Detailed product information, specifications, and user guides

are often available online, helping customers make well-informed decisions.
Reduced Pressure: Customers can browse and shop without the pressure from
salespeople, allowing them to make purchasing decisions at their own pace.

Environmental Impact: E-commerce can potentially reduce the environmental impact

associated with traditional brick-and-mortar shopping, such as reduced travel and
lower energy consumption.

Promotions and Discounts: E-commerce platforms frequently offer special

promotions, discounts, and loyalty programs, allowing customers to save money on
their purchases.

These advantages vary from country to country based on factors such as internet
penetration, infrastructure, consumer preferences, and regulatory frameworks.
2. What are the significant benefits that online sales can bring to companies in
your country?
Online sales can bring several significant benefits to companies in many countries,
including:

Expanded Market Reach: E-commerce allows companies to reach a global audience,

breaking down geographical barriers and tapping into new markets that might be
otherwise inaccessible.

Cost Savings: Operating an online store can often be more cost-effective than
maintaining a physical storefront, as it reduces expenses related to rent, utilities, and
staff.
Reduced Inventory Costs: E-commerce enables companies to practice just-in-time
inventory management, reducing the need for large warehouses and excessive
stockpiles.

Increased Sales Opportunities: Online sales provide an additional channel for

companies to sell their products, potentially increasing overall sales and revenue.

Customer Data and Insights: E-commerce platforms collect valuable customer data
that can be used to analyze buying patterns, preferences, and behaviors, helping
companies tailor their offerings and marketing strategies.

Marketing and Advertising: Online platforms offer targeted marketing options,

allowing companies to reach specific customer segments with personalized
advertisements and promotions.

Better Customer Engagement: E-commerce platforms provide tools for companies to

engage with customers through features like live chat, email marketing, and social
media integration.

Improved Customer Service: Online sales allow companies to provide customer

support and assistance through various channels, enhancing the overall customer
experience.

Enhanced Brand Visibility: An online presence can boost brand visibility and
recognition, particularly if a company effectively utilizes search engine optimization
(SEO) and social media marketing.
Flexibility and Adaptability: E-commerce provides the agility to quickly adjust product
offerings, prices, and marketing strategies in response to changing market
conditions.

Analytics and Performance Tracking: E-commerce platforms offer analytics tools that
enable companies to monitor sales performance, website traffic, and customer
interactions, facilitating data-driven decision-making.

Diversification of Sales Channels: Online sales can complement existing offline sales
channels, providing companies with a diversified revenue stream.

Reduced Barriers to Entry: E-commerce reduces some of the traditional barriers to

starting a business, making it easier for small and medium-sized enterprises (SMEs)
to enter the market.

Sustainable Growth: Online sales can contribute to sustainable business growth by

tapping into new markets and customer segments, potentially leading to increased
profitability.

Direct-to-Consumer Model: E-commerce enables companies to establish direct

relationships with consumers, eliminating the need for intermediaries and allowing
for better control over branding and customer interactions.

It's important to note that the benefits of online sales can vary based on the industry,
target market, and the company's specific strategies and capabilities.
B. What benefits are important to you in a city? Put the following in order 1–5 (1 is
the most important).

Choose From Wide Range of Goods

 Get detailed information
Save time
Save money
Enjoy simplicity and comfort

1.5. Listening
A. Listen to the conversation and answer the questions.
1. What is the man concerned about?
A. Finishing a project on time
B. Paying for his new mobile phone
C. Repairing a piece of equipment
D. Learning a new skill

2. Where do the speakers work?

A. At a repair shop
B. At an electronics store
C. At a marketing firm
D. At a design company

3. What does the woman offer to do?

A. Provide assistance
B. Pay in cash
C. Fill in for the man
D. Email a user manual

B. Listen again and complete the extract.

Thompson: Joanne, did you hear that all employees will be receiving free
 time that competence………… next week? I’m excited about it,
but actually I don’t know how to use one. Even my ………
mobilephone……… is not a smartphone
Joanne: Don’t worry about it. I have one at home and they are very
……user-friendly…………. You won’t have any trouble ……
farmilirize………… yourself with it.
Thompson: I’m glad to hear that. As a logo ……designed company…………,
we can definitely use the tablet computers to increase work
……… efficiency ……….
Joanne: You’re right. If you have any questions, feel ……free………… to
ask me for help.

1.6. Case study

ALIKOLO
Alikolo was an Indonesian e-Commerce
Marketplace.
Founded in: 2014 – 2015
Location: Jakarta, Indonesia
Founded by: Danny Taniwan

Background
What does Alikolo do?
Alikolo is an Indonesian online marketplace where users can find products ranging
from electronics to fashion and accessories. It ceased its operations in June 2015.
What sectors and market segments does Alikolo operate in?
Alikolo serves in the B2C space in the Retail market segments.

Who are the investors in Alikolo?

 Alikolo does not have any institutional investors.
 Alikolo does not have any Angel Investors.

Founders and Board of Directors of Alikolo

Who are the CEO, Founders and Directors of Alikolo?
 Danny Taniwan, Founder, is a founder of 1 company.

Competitors of Alikolo
Competitive landscape of Alikolo
 Alikolo has 145 active competitors and it ranks 74th among them.
 4 of its competitors are funded while 8 have exited.
 Overall, Alikolo and its competitors have raised over $4.68B in funding across
37 funding rounds involving 65 investors.
 There are no private Unicorns in the entire competition set.
Which are the top competitors of Alikolo?
 Lazada - Singapore based, 2012 founded, Acquired company
 Blibli.com - Jakarta based, 2011 founded, Public company
 Tokopedia - Jakarta based, 2009 founded, Acquired company

Task
1. Imagine that you are the CEO and Consultants of Alikolo, what should you do
to save the company.
2. Work in small groups and decide which lessons you will learn from the failure
of Alikolo.
1. What to Do to Save Alikolo:
As the CEO and consultants of Alikolo, if you were looking to save the company, you
might consider the following strategies:

a. Assess the Reasons for Closure: Understand the reasons behind Alikolo's closure in
June 2015. Analyze what led to the shutdown, whether it was operational challenges,
market dynamics, or financial issues.

b. Market Research and Rebranding: Conduct thorough market research to identify

the current demand and trends in the Indonesian online marketplace. Consider
rebranding and repositioning Alikolo to address any gaps in the market and appeal to
the changing needs of customers.

c. Operational Efficiency: Streamline operations to reduce costs and improve

efficiency. Identify areas where operational processes can be optimized, leading to
cost savings and better customer experiences.

d. Tech Enhancement: Invest in upgrading the platform's technology infrastructure.

Ensure the website is user-friendly, responsive, and capable of handling increased
traffic without glitches.

e. Product Diversity and Quality: Reevaluate the product range and ensure it aligns
with the preferences of the target audience. Focus on offering a diverse and high-
quality range of products to attract and retain customers.

f. Customer Engagement: Implement strategies to engage and retain customers.

Offer personalized recommendations, loyalty programs, and responsive customer
support.
g. Strategic Partnerships: Consider forming partnerships with brands, suppliers, or
other marketplaces to expand the product offerings and reach a wider audience.

h. Marketing and Promotion: Invest in effective marketing and promotional

strategies to create awareness and drive traffic to the platform. Utilize digital
marketing, social media, and influencer collaborations to increase visibility.

i. Data Analytics: Leverage data analytics to gain insights into customer behavior,
preferences, and buying patterns. Use this data to make informed decisions about
product offerings, pricing, and marketing strategies.

2. Lessons from Alikolo's Failure:

Working in small groups, you could discuss and learn the following lessons from
Alikolo's failure:

a. Understanding Market Dynamics: Alikolo's closure indicates the importance of

continuously monitoring market trends, consumer preferences, and competition.
Staying attuned to these factors helps in adapting the business to changing
conditions.

b. Operational Excellence: The challenges Alikolo faced might highlight the

significance of operational efficiency. Businesses need to manage resources
effectively, optimize processes, and adapt quickly to market shifts.

c. Adapting to Ecosystem Changes: Alikolo's inability to adapt might underscore the

importance of being flexible and open to changes. The e-commerce landscape
evolves rapidly, and companies need to evolve with it.
d. Customer-Centric Approach: The experience of Alikolo emphasizes the need to
prioritize customer satisfaction. Focusing on offering a seamless shopping experience
and addressing customer concerns can make or break a business.

e. Innovation and Technology: Alikolo's closure might emphasize the need to invest
in technology upgrades to meet user expectations and handle technical challenges.

f. Partnerships and Collaborations: Exploring partnerships with other businesses or

platforms can provide synergies, expand product offerings, and increase reach.

g. Financial Management: The financial aspects of Alikolo's failure underline the

importance of prudent financial management, sustainable growth, and managing
costs effectively.

h. Effective Leadership: Leadership plays a crucial role in guiding a business through

challenges. Strong leadership can drive strategic decisions, adaptability, and
innovation.

Remember that learning from past failures is an important step toward building a
stronger and more resilient business strategy.