Large European companies are blind to the competitive threat presented by dot coms, according to research from PricewaterhouseCoopers (PWC).Almost half (47 per cent) of European companies believe that their greatest threat comes from mainstream rivals competing through traditional, or non e-business means.
PWC's findings were based on a survey of chief information officers in The Times Top 1,000 UK-based companies, and parallel US researchers on the attitudes of e-business decision-makers in 104 Fortune 1,000 companies.
European companies' attitudes towards dot coms mirrored those of the US, with only 13 per cent identifying them as the greatest business threat, although US companies are more alert to the impact of e-business on competition.
Only 27 per cent of European respondents, compared with 43 per cent in the US, expressed greatest concern about competition from peers that had developed e-business strategies.
Bill Bound, e-business leader at PWC, said Europe's largest organisations "realise the long-term potential of e-business", but they are "not investing sufficiently to realise that potential".
Bound said: "They must embrace a new business model that is centred on an offensive e-business strategy."
Carol Dukes, chief executive at UK health Web site Thinknatural.com, said that by ignoring dot coms, large companies risk missing out on potential acquisitions and spotting management teams with whom they could co-operate.
But drinks retailer Kingfisher seems to have realised the business of the dot com market and the ERP manufacturer has entered into a partnership with Thinknatural.com.
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