Abstract
While an enormous number of newcomers has been entering into the E-Commerce (EC) business every year, an equally large number of stores has been exiting from the EC market. In these days, numerous books and trade magazines have listed up so-called key success factors (KSF) of EC, and many ways to succeed in EC have been taught at various EC seminars; however, EC owners have been relying on unscientific ways to make their decisions so far. This paper discusses ineffectiveness of existing KSF, and hypothesizes that the ineffectiveness of KSF is stemming from the inappropriate level of institution in EC. Then a case of an effective EC analysis which is based on an appropriate level of institution is introduced at the end.
