Question

In the online retail industry please provide a description of skills, knowledge and competencies that are called for across leadership in this sector. Explain in detail.

Answer 1

In online retail industry the leaders need various essential skills, knowledge and competencies which will enable them to stay aloof of the intense competition from existing rivals and from the threat of new entrants . The leadership in such industry should be viable enough to suit the online retailing business environment which is exposed to so many changes and trends. The leadership thus should entail the skills , knowledge and capabilities mentioned below :

Analytical thinking skills in order to pay attention to details for addressing the small issues and risks involved which might become a big complexity later. Analytical thinking will help leaders to evaluate each decision in terms of viability to suit the online retail marketing environment and support growth.

Technical skills in order to understand the technicalities of how online business is to be managed efficiently and so that leaders are able to address and solve the technical glitches involved in such nature of business so as to ensure smooth flow of operations without letting technical discrepancies hamper the functioning of business.

The capabilities such as Innovation and creativity can help the business to discover and invent new ideas and help finding new methods and ways of serving the customers better thus acting as its competence to curb competition. Innovation is an integral component of online retailing which acts as a sole factor behind giving a competitive edge to rivals.

Thus leadership should entail the capability to frequently innovate within the technologically volatile environment so as to cooe up with these technological changes and adding new features to the online retailing process for improving the customer purchase experience thus maximizing satisfaction. Creativity is required to attract the customers through providing a different way of accessing variety of products. Creativity will help business in gaining the wide customer base through providing creative ways of purchase experience.

Adaptability is another competence which leaders in online retailing should possess. As technological upgradions and advancements influence the industry directly and can act as both opportunities as well as threats, thus adaptability is the only characteristic of leaders which will come to its rescue.

Moreover the technical knowledge such as deep understanding of softwares, internet of things, search optimization etc is necessary to prove an effective leader. The leader should possess essential information about how the business can be made more efficient and effective and in what ways can it grow better.

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