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E-strategic Management-1
- 2. Strategy
- 3. What is strategic Management? • INVOLVES: • formulation and implementation of the major goals and initiatives. • based on consideration of resources • an assessment of the internal and external environments in which the organization competes
- 4. This subject is called E-strategic Management, so what is E-strategy ?
- 5. E- strategy • an iterative process • to create and/or modify an organization's business model for e- business. • The key is • the formulation and implementation of the sustainable and financially viable business model • NOT just designing websites to address business requirements.
- 6. Then what is E-business?
- 7. Definition of E-Business • e-Business is the business use of the Internet. • The “use” results in a “business benefit” such as higher revenues, reduced costs or reaching an underserved market
- 8. Lecture 1 Introduction to E-commerce
- 9. E-commerce • Any monetary transaction, which is done with the help of electronic media is e-commerce. • Use of Internet and Web to transact business • Digitally enabled commercial transactions between and among organizations and individuals
- 10. What is E-commerce & what is E-business • E-Commerce: • Use of Internet and Web to transact business • Digitally enabled commercial transactions between and among organizations and individuals • E-business: • the digital enabling of transactions and processes within a firm, involving information systems under the control of the firm Lecture 1- E-strategic 10
- 11. What is E-commerce & what is E-business Lecture 1- E-strategic 11
- 12. Why Study E-commerce? • E-commerce brings fundamental changes to commerce • Traditional commerce: • Consumer as passive targets • Mass-marketing driven • Sales-force driven • Fixed prices • Information asymmetry: any disparity in relevant market information among parties in a transaction Lecture 1- E-strategic 12
- 15. Think over: How e-business and e-commerce are two different concepts?
- 16. E-Commerce trends • Web retail sales have jumped from a mere $700 million annually in 1996 to an estimated $20 billion in 1999, according to Forrester 1996 $20B $700M 1999
- 18. Information asymmetry • Refers to any disparity in relevant market information among parties in a transaction. • E-commerce brings about a reduction in information asymmetry among market participants (consumers and merchants).
- 19. Unique features of E-com tech.
- 20. 1. Ubiquity Something that occurs everywhere refers to Internet/Web technology Effect: Marketplace removed from temporal, geographic locations to become “marketspace” Reduces cost of participating in market.
- 21. 2. Global reach • Technology reaches across national boundaries, around the earth. • Effect: • Refers to the previously smaller, more contained marketplaces, turning outward across cultural and national boundaries seamlessly and without modification. • Includes billions of consumers and millions of business woldwide
- 22. 3. Universal Standards • One set of technology standards, that is Internet standards, fairly easy to understand. • Effect: • Equalizes the playing field for many businesses, as it means anyone can access the information they need. • Lowers market entry costs – costs merchants must pay to bring goods to market. • Lower consumer’s search costs – effort required to find suitable products.
- 23. 4. Richness • Supports video audio and text messages. • Effect: • Trend to convey information that is CONTENT-RICH is through video ads, audio messages, and even interactive text options, on many retail sites. • E.g: Facebook • Video, audio and text marketing messages can be integrated into single marketing message and consumer experience
- 24. 5. Interactivity • Technology works through interaction with the user. • Effect: • Online agents to chat for feedback on products and complaints. • Consumers become co-participant in process of delivering goods to market • E.g: Amazon
- 25. 6. Information density • The total amount and quality of information available to all market participants is vastly increased and is cheaper to deliver. Effect: Greater price transparency. Greater cost transparency. Enables merchants to engage in price discrimination.
- 26. 7. Personalization/Customization • Enabling of personalization of marketing messages and customization of products and services are based on individual characteristics. • Effect: • Allows personalized marketing messages to be deliver to individuals as well as groups. • Products and services can be customized to individual preferences.
- 27. 8. Social Technology User content generation and social networks, enable user content creation and distribution Effect: Best source of content sharing technology and eMarketing systems. Many to many model.
- 28. Choose an e-commerce Web site and assess it in terms of the eight unique features of e-commerce technology described. Which of the features does the site implement well, and which features poorly, in your opinion? Pretend to prepare a short demo to the president of the company you have chosen, detailing your findings and any suggestions for improvement you may have.
- 29. Types of E-commerce • B2B • B2C • C2C • Mobile • Social • Local
- 30. B2C – Business to Consumer • online businesses attempt to reach individual consumers. • includes purchases of retail goods, travel services, and online content.
- 31. B2B –Business-to-business • businesses focus on selling to other businesses. • Largest form of e-commerce, with about $4.7 trillion in transactions in the United States in 2013.
- 33. C2C—consumer-to-consumer • In C2C e-commerce, the consumer prepares the product for market, places the product for auction or sale, and relies on the market maker to provide catalog, search engine, and transaction-clearing capabilities so that products can be easily displayed, discovered, and paid for.
- 35. Mobile e-commerce (m-commerce) • use of mobile devices to enable online transactions. • involves the use of cellular and wireless networks to connect laptops, smartphones such as the iPhone, Android, and BlackBerry, and tablet computers such as the iPad to the Internet.
- 36. Singapore leads Asia in mobile take up and M commerce- By Chris Reed • - 90% of Singapore owns a smartphone • - 43% chose mobile over friends • - 39% chose mobile over pc/laptop • - 60% multitask on mobile while watching TV • - 84% check mobile when they wake up in the middle of the night
- 37. Social e-commerce • Enabled by social networks and online social relationships. Also referred to as Facebook commerce. • Its growth of social e-commerce is being driven by : • Increasing popularity of social sign-on. • Network notification • Online collaborative shopping tools • Social search
- 38. Local e-commerce • focused on engaging the consumer based on his or her current geographic location.
- 39. Handout • 8. Search the Web for an example of each of the five major types of e-commerce. Please justify
- 40. Omni-channel signals the evolution of multi-channel or cross-channel retailing to encompass all digital and social technologies. The idea is that customers can examine, access, purchase, and return goods from any channel, and even change channels during the process in each channel, receive timely and relevant product information.
- 41. How E-commerce is Changing industry structure Business Lecture 1- E-strategic 41
- 42. Technologies Reshaping Enterprise • Disintermediation: displacement of market middlemen who tradition- ally are intermediaries between producers and consumers by a new direct relationship between producers and consumers • Friction-free commerce a vision of commerce in which information is equally distributed, trans- action costs are low, prices can be dynamically adjusted to reflect actual demand, intermediaries decline, and unfair compet- itive advantages are eliminated
- 43. Technologies Reshaping Enterprise • First movers—those firms who were first to market in a particular area and who moved quickly to gather market share. • Is it good or bad to be first mover ?
- 44. BRAIN STORMING • The Insight on Technology: Will Apps Make the Web Irrelevant case looks at the rise in importance of apps as compared to the Web in the e-commerce landscape. • What are the advantages and disadvantages of apps, compared with Web sites, for mobile users? • What are the benefits of apps for content owners and creators? • Will apps eventually make the Web irrelevant? Why or why not?
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- A plan of action that has been designed to achieve a long term or overall aim. The art of planning and directing overall operations or movements as it happen in military during any war. <number>
- Transforms static plan into a system that provides decision making and enables the plan to grow and change the circumstances. <number>
- We came to “E” that means electronic medium. Gone are the days, when you have to go to the market to buy a single item. Nowadays you just have to place an order online, and that item will come to you within few minutes. Online shopping is getting popular, just because of its simplicity as well as the services provided by them. <number>
- e stands for "electronic networks" and describes the application of electronic network technology - including Internet and electronic data interchange (EDI) - to improve and change business processes. <number>
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- In this type of online commercial transaction, the seller can communicate with the buyer without having a face to face interaction. Some examples of real world application of e-commerce are online banking, online shopping, online ticket booking, social networking, etc. The basic requirement of e-commerce is a website. The marketing, advertising, selling and conducting transaction are done with the help of internet. Any monetary transaction, which is done with the help of electronic media is e-commerce. <number>
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- It is not easy to differentiate the two because they are closely interconnected terms. e-commerce is nothing but buying and selling of goods around the web. e-business is a little different as it is not limited to, commercial transactions, but it also provides other services. Carrousel is best example <number>
- The following are the major differences between e-commerce and e-business: Buying and Selling of goods and services through the internet is known as e-commerce. Unlike e-business, which is an electronic presence of business, by which all the business activities are conducted through the internet. e-commerce is a major component of e-business. e-commerce includes transactions which are related to money, but e-business includes monetary as well as allied activities. e-commerce has an extroverted approach that covers customers, suppliers, distributors, etc. On the other hand, e-business has an ambivert approach that covers internal as well as external processes. e-commerce requires a website that can represent the business. Conversely, e-business requires a website, Customer Relationship Management and Enterprise Resource Planning for running the business over the internet. e-commerce uses the internet to connect with the rest of the world. In contrast to e-business, the internet, intranet and extranet are used for connecting with the parties . For example, a company’s online inventory control mechanisms are a component of e-business, but such internal processes do not directly generate revenue for the firm from outside businesses or consumers, as e-commerce, by definition, does <number>
- E-commerce:- E-commerce is the process of buying and selling goods via internet that comes under Ebusiness. Website is alone enough to carry out the transactions in this platform which will include electronic data interchange and monetary transactions. Other than this online banking and ticket booking online also falls under E-commerce. It relates the suppliers, customers and others outside the business. It can be B2B, B2C, C2C, C2B, B2G, G2B or G2C but it is more suitable for B2C transactions. In this, customer buys a product from the online platform. EBusiness:- When the business shows its presence online by means of Internet, intranet and extranet then it is termed as Ebusiness. It uses both front and back office applications that includes business intelligence, customer relationship management, supply chain management, enterprise resource management, E-commerce, electronic transfer within firm, collaboration and online activities between businesses. While buying and selling products the information exchanged is also termed as Ebusiness. This doesn’t stop with this but it includes both pre-sale and post-sale activities. Ebusiness is used in the B2B transactions and the online market players use it for maintaining its business processes. So, before you use these both terms make sure that it is used appropriately without changing their meaning. <number>
- Consumers were bound by geographical and social boundaries , unable to search widely for the best quality and price. One of the shifts that e-commerce is bringing about is a reduction in information asymmetry among market participants (consumers and merchants). sometimes called information failure, occurs when one party has better or more information than another – when one person knows more than somebody else. This can make it difficult for two parties to do business together. Things are quite transparent now, return policies, rates all around are well known internationally <number>
- All eight of these features justifies very well why this world is turning digital now hen it comes to business. If you aren’t online, you’re not going to survive in this new marketplace/marketspace. E-commerce has significantly (positively) changed the way we do business, and will continue to do so for generations to come. E-Commerce has eight unique features that give it its “Wow” factor. E-commerce technologies make it possible for merchants to know much more about consumers and to be able to use this information more effectively than was ever true in the past. E-commerce technologies make it possible for merchants to know much more about consumers and to be able to use this information more effectively than was ever true in the past. Online merchants can use this new information to develop new information asymmetries, enhance their ability to brand products, charge premium prices for high-quality service, and segment the market into an endless number of subgroups, each receiving a different price. <number>
- Ubiquity is defined as being something that occurs everywhere. Ever since the inception of the internet, its user base has grown exponentially, and with it. it is available just about everywhere, at all times. It liberates the market from being restricted to a physical space and makes it possible to shop from your desktop, at home, at work, or even from your car, using mobile e-commerce. Result is marketspace – a marketplace extended beyond traditional boundaries and removed from a temporal and geographic location. From a consumer point of view: ubiquity reduces transaction costs—the costs of participating in a market. At a broader level, the ubiquity of e-commerce lowers the cognitive energy required to transact in a marketspace. Cognitive energy refers to the mental effort required to complete a task. According to research :When given a choice, humans will choose the path requiring the least effort—the most convenient path. E-commerce has blossomed. Libraries, homes, businesses, people’s personal cell phones and even airplanes, all have access to the internet. The great thing about the internet is that pretty much everyone, everywhere, can access it for free or quite cheaply. Which makes it a fabulous tool for trading globally, which leads to the next feature of E-commerce, global reach. <number>
- E-commerce technology permits commercial transactions to cross cultural, regional, and national boundaries far more conveniently and cost-effectively than is true in traditional commerce. E-com merchants/ consumers are almost in same number as internet users. More realistically, the Internet makes it much easier for start-up online merchants within a single country to achieve a national audience than was ever possible in the past. In contrast, most traditional commerce is local or regional—it involves local merchants or national merchants with local outlets. Television and radio stations, and newspapers, for instance, are primarily local and regional institutions with limited but powerful national networks that can attract a national audience. In contrast to e-commerce technology, these older commerce technologies do not easily cross national boundaries to a global audience. If you consider apparel industry , local brands of korea and Europe are making big because of e-commerce. <number>
- The internet has its own universally accepted standards of how information is presented. One strikingly unusual feature of e-commerce technologies is that the technical standards of the Internet, and therefore the technical standards for conducting e-commerce, are universal standards—they are shared by all nations around the world. In contrast, most traditional commerce technologies differ from one nation to the next. For instance, television and radio standards differ around the world, as does cell phone technology. The universal technical standards of the Internet and e-commerce greatly lower market entry costs—the cost merchants must pay just to bring their goods to market. GSM/CDMA This equalizes the playing field for many businesses, because it means anyone can access the information they need to enter the market, and also price discovery is no longer a pain in the butt. for consumers, universal standards reduce search costs—the effort required to find suitable products. For instance, if you want to know how much a 55″ LCD flat screen TV is going to cost you, you simply type in the brand you want in a search engine and *poof*, seconds later you are presented with all the options you could possibly want. Nearest store location, online prices, other features of the unit you’re looking for…etc. <number>
- Information richness refers to the complexity and content of a message The average internet user gets bored quickly by reading through so much print, so to compensate, E-Commerce has encouraged the trend of information Richness. This simply refers to the fact that there are now video ads, audio messages, and even interactive text options, on many retail sites. Traditional markets, national sales forces, and small retail stores have great richness: they are able to provide personal, face-to-face service using aural and visual cues when making a sale. The richness of traditional markets makes them a powerful selling or commercial environment. Prior to the development of the Web, there was a trade-off between richness and reach: the larger the audience reached, the less rich the message. Chatting with an online sales person, for instance, comes very close to the customer experience in a small retail shop. The richness enabled by the Internet allows retail and service merchants to market and sell “complex” goods and services that heretofore required a face-to-face presentation by a sales force to a much larger audience. <number>
- Another feature of E-Commerce is Interactivity. Interactivity is something I really like, because it makes me feel like I’m a valued customer. There is nothing more frustrating than going into a store to find something you need, and not getting the assistance you feel you deserve. Traditional television, for instance, cannot ask viewers questions or enter into conversations with them, or request that customer information be entered into a form. Teleshopping. With the new standards being set by E-Commerce, interactivity is now pretty standard in most businesses you find in the marketspace. There are online agents to chat with you live if you’re having issues with a product, shipping or billing. Also, customers are better able to give feedback on products, which allows other users to see whether or not they want to actually spend money on items. Amazon is great example. Every time you buy something, you have the option to rate your experience with not only the product, but also the seller. Share on facebook/twitter/make blogs. This tells future customers whether or not they will be given fair pricing, quick shipping, and intact products. <number>
- E-commerce technologies vastly increase information density—the total amount and quality of information available to all market participants, consumers, and merchants alike. May be u want to buy E-commerce technologies reduce information collection, storage, processing, and communication costs. At the same time, these technologies greatly increase the currency, accuracy, and timeliness of information—making information more useful and important than ever. As a result, information becomes more plentiful, less expensive, and of higher quality. Online merchants can discover much more about consumers; this allows merchants to segment the market into groups willing to pay different prices and permits them to engage in price discrimination—selling the same goods, or nearly the same goods, to different targeted groups at different prices. For instance, an online merchant can discover a consumer’s avid interest in expensive exotic vacations, and then pitch expensive exotic vacation plans to that consumer at a premium price, knowing this person is willing to pay extra for such a vacation. At the same time, the online merchant can pitch the same vacation plan at a lower price to more price sensitive consumers. Merchants also have enhanced abilities to differentiate their products in terms of cost, brand, and quality <number>
- Nearing the end of this fabulous list is Personalization. In this hectic world we live in, with everything we could possibly want at our fingertips, and having the expectation of instant gratification, the next best thing to quick service is perfect service. personalization the targeting of marketing messages to specific individuals by adjusting the message to a person’s name, interests, and past purchases. Today this is achieved in a few milliseconds and followed by an advertisement based on the consumer’s profile. Uniqlo customization—changing the delivered product or service based on a user’s preferences or prior behavior. An interesting example is Mission Bicycles, in San Francisco. They allow you to create your entire bicycle from the frame up, choosing colors, handlebars, seat style, chains, pedals….you name it! Depending on what kind of product you’re looking for, you’ll most likely find a way to customize it online so that it fits your idea of perfection. interactive nature of e-commerce technology much information about the consumer can be gathered in the marketplace at the moment of purchase a great deal of information about the consumer’s past purchases and behavior can be stored and used by online merchants. The result is a level of personalization and customization unthinkable with traditional commerce technologies. For instance, you may be able to shape what you see on television by selecting a channel, but you cannot change the contents of the channel you have chosen. In contrast, the online version of the Wall Street Journal allows you to select the type of news stories you want to see first, and gives you the opportunity to be alerted when certain events happen. <number>
- e-commerce technologies have evolved to be much more social by allowing users to create and share content with a worldwide community. to create new social networks and strengthen existing ones. All previous mass media in modern history, including the printing press, use a broadcast model (one-to-many) where content is created in a central location by experts (professional writers, editors, directors, actors, and producers) and audiences are concentrated in huge aggregates to consume a standardized product. The telephone would appear to be an exception but it is not a “mass communication” technology. Instead the telephone is a one-to-one technology. The Internet and e-commerce technologies have the potential to invert this standard media model by giving users the power to create and distribute content on a large scale, and permit users to program their own content consumption. Strength to consumer/ as well as to business if its good. All eight of these features contribute to the reason why E-Commerce is the way of the future for all businesses. If you aren’t online, you’re not going to survive in this new marketplace/marketspace. E-commerce has significantly (positively) changed the way we do business, and will continue to do so for generations to come. <number>
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- The Paper Marketplace for buyers and sellers of paper, board, and kraft. <number>
- The Paper Marketplace for buyers and sellers of paper, board, and kraft. where companies may buy and sell paper inventory. Once again, providing a more cost effective way to sell their excess inventory while creating opportunities for paper buyers. provides Software as a Service (SaaS) technology solutions for the print and paper industry, allowing production departments to better manage print and paper forecasts, purchases, and inventory with their paper suppliers and printers. <number>
- eBay needs sellers to list products on its site to generate revenue, the company is far more seller-oriented than Amazon.EBay actively invites sellers to participate in its auction marketplace, and the company provides platforms for sellers to offer products to buyers within an eBay store or through the auction site's classified section. Amazon is more buyer-oriented, actively inviting buyers to visit the site and browse through and subsequently purchase its own inventory. While some third partysellers use Amazon to distribute products, the company is more focused on attracting buyers to the site.Read more: How Are eBay And Amazon Different? | Investopedia http://www.investopedia.com/articles/investing/061215/how-are-ebay-and-amazon-different.asp#ixzz4PJ87fU9p Follow us: Investopedia on Facebook <number>
- Launching mobile friendly website is one latest trend. <number>
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- enabled by social networks and online social relationships. It is sometimes also referred to as Facebook commerce, but in actuality is a much larger phenomenon that extends beyond growth of social e-commerce is being driven by a number of factors, including the increasing popularity of social sign-on (signing onto Web sites using your Facebook or other social network ID), network notification (the sharing of approval or disapproval of products, services, and content via Facebook’s Like button or Twitter tweets), online collaborative shopping tools, and social search (recommendations from online trusted friends). Social d just Facebook <number>
- Marketing for local merchants and retailers is evolving rapidly. These companies essentially generate leads or actual sales for the local merchant in exchange for a marketing fee (commission). focus solely on matching the right consumer with the right local merchant. For the new businesses, launching new franchise, <number>
- The term omni-channel signals the evolution of multi-channel or cross-channel retailing to encompass all digital and social technologies. The idea is that customers can examine, access, purchase, and return goods from any channel, and even change channels during the process, and at each step along the way and in each channel, receive timely and relevant product information. Watched an ad on TV Got more infor from mobile phone Ordered from laptop Tracked from ipad. <number>
- E-commerce changes industry structure by changing: Rivalry among existing competitors Barriers to entry Threat of new substitute products Strength of suppliers Bargaining power of buyers References for porter 5 forces model https://www.mindtools.com/pages/article/newTMC_08.htm https://hbr.org/video/3590615226001/the-explainer-porters-five-forces <number>
- intermediary (such as a distributor, wholesaler, broker, or agent), companies may now deal with customers directly, for example via the Internet.[2] Disintermediation may decrease the total cost of servicing customers and may allow the manufacturer to increase profit margins and/or reduce prices. the road of “frictionless commerce”, where we can buy things without dealing with the pesky nuisance of actual cash. I’ve recently started contemplating how frictionless online commerce works, and I’ve begun referring to it also as “unconscious commerce”. It’sconsumer less price sensitive Considerable price dispersion It’s actually funny to look back at how iTunes has moved from being a clone of a Website, with a basket and checkout, and now lets you one-click your heart out, bundling up multiple purchases in a receipt that is rolled up to you later. There’s a few really interesting results when you search the Web for how to turn off one-click purchasing in iTunes. Answer? You can’t. Either don’t have a credit/debit card stored, or be good about your purchases.
- The major advantages of being a first mover are the ability to build a brand name early on and establish a large customer base before followers enter the market, and the ability to build switching costs into the technology or services offered so that customers will find it discomfiting to change to a late entering competitor. The major disadvantage is that historically, many first movers have not succeeded and are instead replaced by the fast follower, larger firms with the financial, marketing, legal, and production assets necessary to develop mature markets. Generally, only a handful of first mover firms become successful long-term businesses as the start-up costs and time it takes to build a profitable business are often underestimated.
- http://mathildevolcke3ion01.weebly.com/chapter-1-the-revolution-is-just-beginning.html Advantages: You have more and sometimes better access when you use the appThere are fewer advertisements on the app They remember you personal preferencesWhen you use the app there are none or fewer virusesDisadvantages: Not all the websites are mobile “friendly”. That means that not every website has it's own app. You need to install the app before you can use it. Not all the apps are user friendly.Sometimes an app works slower than the website.Not all the apps are free to use.What are the benefits of apps for content owners and creators?There are a few benefits for content owners. First of al it’s personal besides that, they gain money from it because for some apps you have to pay before you can use them. When you install the app, the content owners and creators also get access towards your personal information. To end, by using an app they also give themselves an advantage. Because when a user want's to buy things online, they will first look at the apps that are already installed on their phones (like Zalando) before visiting other websites.Will apps eventually make the Web irrelevant? Why or why not?No, because you can find more information on the website then on an app and not every website has his own app. Besides that you are limited in apps. A mobile phone can't save more then 100 apps on the device. And if you want to switch sites when you are using an app, you will have to close the app each time. So it's very difficult to compare things. <number>