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Prentice Hall, 2003 1 Chapter 11
 

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    Prentice Hall, 2003 1 Chapter 11 Prentice Hall, 2003 1 Chapter 11 Presentation Transcript

    • Chapter 11 E-Strategy, Internet Communities, and Global EC
    • Learning Objectives
      • Describe the importance and essentials of business and EC strategies
      • Describe the strategy planning and formulation process for EC
      • Understand how EC applications are discovered, justified, and prioritized
      • Describe strategy implementation and assessment including the use of metrics
      • Understand EC failures and lessons for success
    • Learning Objectives (cont.)
      • Describe the role and impact of virtual communities on EC
      • Evaluate the issues involved in global EC
      • Analyze the impact of EC on small businesses
      • Describe the relationship between EC and BPR, knowledge management, and virtual corporations
      • Describe the future of EC
    • IBM’s E-Business Strategy
      • The Problem
        • Need to capture new business opportunities and technologies (like EC)
        • Develop a business strategy for that purpose
        • IBM’s current strategy is to transform itself into an e-business in order to provide business value to the corporation and its shareholders
        • IBM views e-business as being much broader than EC because it:
          • Serves a broader constituency
          • Offers a variety of Web-based processes and transactions
    • IBM’s E-Business Strategy (cont.)
      • The Solution is based on four goals:
        • Lead IBM’s strategy to transform itself into e-business
        • Act as a catalyst to help facilitate that transformation
        • Help business units become more effective in their use of the Internet/intranet
          • Internally
          • With their customers
    • IBM’s E-Business’s Strategy (cont.)
        • Establish a strategy for the corporate Internet site
          • Including definition of how it should look, “feel” and be navigated
          • Create an online environment most conducive to customers doing business with IBM
        • Leverage the wealth of e-business transformational case studies within IBM to highlight the potential of e-business to IBM’s customers
    • IBM’s E-Business Strategy (cont.)
      • E-commerce
      • E-care for customers
      • E-care for business partners
      • E-care for influencers
      • E-care for employees
      • E-procurement
      • E-marketing communications
      • IBM focused on seven key initiatives:
    • IBM’s E-Business Strategy (cont.)
      • The Results
        • Implementation of an e-procurement system that spans IBM globally
        • Saved IBM almost $5 billion over a 3-year period
        • Electronic invoicing:
          • Reduces the number of paper invoices
          • Enables fast, competitive tendering from its suppliers
    • IBM’s E-Business Strategy (cont.)
        • IBM’s evaluation of the procurement process determined where the use of the Web adds value
        • Identification of more than 20 initiatives to reduce costs and improve purchasing including:
          • Collaboration with suppliers
          • Online purchasing
          • Knowledge-management-based applications
    • E-Strategy: Concepts & Overview
      • Strategy—search for revolutionary actions that will significantly change the current position of a company, shaping its future
        • Finding the position in a marketplace that best fits the firm’s skills
        • Company’s choice of new position that must be driven by its ability to find new trade-offs and leverage a new system of complementary activities into sustainable advantage
    • Elements of Strategy
      • Elements of a strategy
        • Forecasting
        • Resource allocation
        • Core competency
        • Environmental analysis
        • Company analysis
        • Business planning
    • Types of E-Strategies
      • EC strategy (e-strategy)—an organization’s strategy for use of e-commerce or e-business
        • Click-and-mortar companies that use many EC applications
        • Click-and-mortar companies that use only one or two EC applications
        • Click-and-mortar companies that use one EC application that fundamentally changes all their business
        • Pure-play EC companies
    • Need for a Strategy
      • Why does a company need an e-strategy?
        • Fast changes in business and technology means that opportunities and threats can change in a minute
        • Company must consider EC strategy that includes contingency plans to deal with changes
        • May be too costly not to have one
    • Charles Schwab’s EC Strategy
      • In 1998 Schwab launched schwab.com —one of the first click-and-mortar stockbrokers
        • Changed the company pricing structure radically
          • Took a short-term revenue loss
          • Looking toward a long-term strategic gain
        • EC strategy fit well with company’s overall strategy emphasizing a one-to-one relationship with its customers
    • Charles Schwab (cont.)
      • Schwab had first-mover advantage in securing key partnerships
        • Schwab and Nextel agreed to build an infrastructure allowing investment opportunities over mobile phones or wireless handheld devices
        • Initial target was existing off-line customers with incomes over $150,000 a year and who buy and hold
        • Key benefits:
          • Innovative products Superior service
          • Low fees Cutting-edge technology
    • Charles Schwab (cont.)
      • Partnered with content providers and technology companies to offer:
        • Large number of financial services online
        • Community and personalized services
      • Financial model composed of three parts:
        • The revenue model
        • The value model
        • The growth model
    • Charles Schwab (cont.)
      • CyberTrader's services are designed for online, self-directed active traders who use short-term trading strategies to generate current income
      • Cybertrader features include:
        • Nasdaq Level II quotes
        • Direct Access trading capabilities
        • Risk management tools
        • Graphical decision support modules
        • Streaming News
        • Intelligent order routing
        • Direct options routing
    • E-Strategy Landscape
      • Strategy initiation: organization prepares information about its vision,mission,purpose,and the contribution that EC could make to the business
      • Strategy formulation:
        • Identification of EC applications
        • Cost-benefit analysis
        • Risk analysis
    • E-Strategy Landscape (cont.)
      • Strategy implementation:
        • Organization’s resources are analyzed
        • A plan is developed for attaining the goals
      • Strategy assessment:
        • Organization periodically assesses progress toward the strategic goals
        • Involves the development of EC metrics
    • Exhibit 11.1 The Landscape of EC Strategy
    • Strategy Initiation
      • Strategy initiation—the initial phase of e-strategy in which an organization prepares information about its vision, mission, purpose, and the contribution that EC could make
        • Review the organization’s business and IT vision and mission
        • Generate vision and mission for EC
        • Begin with industry and competitive analysis
    • Industry Assessment
      • What industry is the EC initiative related to?
      • Who are the customers?
      • What are the current practices of selling and buying?
      • Who are the major competitors? (How intense is the competition?)
      • What e-strategies are used, by whom?
      • How is value added throughout the value chain?
      • What are the major opportunities and threats?
      • Are there any metrics or best practices in place?
      • What are the existing and potential partnerships for EC?
    • Company Assessment
      • The organization investigates its own:
        • Business strategy
        • Performance
        • Customers
        • Partners
      • It looks at everything that has an impact on its operations
        • Processes
        • People
        • Information flows
        • Technology support
    • Industry, Company, and Competitive Analysis
      • SWOT analysis—a methodology that surveys the opportunities and threats in the external environment and relates them to the organization’s particular strengths and weaknesses
      • SWOT Analysis
        • Strengths
        • Opportunities
        • Weaknesses
        • Threats
      SWOT
    • Exhibit 11.2 SWOT Matrix
    • Competitive Intelligence on the Internet
      • Internet can play a major role as a source of competitive information (competitive intelligence)
        • Review competitors’ Web sites
        • Examine publicly available financial documents
        • Ask the customers—award prizes to those who best describe your competitors’ strengths and weaknesses
    • Competitive Intelligence on the Internet (cont.)
        • Analyze related discussion groups
          • Find out what people think about a company and its products and competitor's products
          • Reaction to new ideas and products
        • Use information delivery services
          • Find out what it published on the Internet
          • Known as push technologies
        • Corporate research companies provide information about your competitors:
        • Examine chat rooms
    • Issues in Strategy Initiation
      • Advantages
        • Chance to capture large markets
        • Establishing a brand name
        • Exclusive strategic alliances
      • Disadvantages
        • Cost of developing EC initiative is usually very high
        • Chance of failure is high
        • System may be obsolete as compared to second wave arrivals
        • No support services are available at the beginning
      • To be a first mover or a follower?
    • Should You Have a Separate Online Company?
      • Advantages
        • Reducing or eliminating internal conflicts
        • Providing more freedom to management in pricing, advertising, etc.
        • Can create new brands quickly
        • Take the e-business to an IPO and make a fortune
      • Disadvantages
        • May be very costly and risky
        • Collaboration with off-line business may be difficult
        • Lose expertise of business functions unless you use close collaboration
    • Strategy Formulation
      • Strategy formulation
        • Development of long-range and strategic plans to exploit opportunities and manage threats in the business environment in light of corporate strengths and weaknesses
      • Includes examining or redefining EC mission
        • Specifying achievable objectives
        • Developing strategies
        • Setting implementation guidelines
    • Discovering EC Opportunities
      • 3 common mistakes in allocating EC investment
        • Let a thousand flowers bloom—fund many projects indiscriminately
        • Bet it all—put everything on a single high-stake initiative
        • Trend-surf—follow the crowd toward the next “big thing”
      • Any of the above can be risky and costly
    • Discovering EC Opportunities (cont.)
      • Approaches to identifying EC opportunities
        • Problem-driven
        • Technology-driven
        • Market-driven—waiting to see what the competitors will do
        • Fear or greed-driven
          • Afraid if they do not practice EC they will be big losers
          • Think they can make lots of money going into EC
    • Determining an Appropriate EC Application Portfolio
      • Find the most appropriate portfolio in order to share limited resources
        • Combine long-term speculative investments in new potentially high-growth business
        • With short-term investments in existing, profit-making businesses
      • Boston Consulting Group’s matrix
        • Cash cows Questionable projects
        • Starts Dogs
    • EC Application Portfolio
      • Strategy based on company fit (assessed by five levels from high to low)
        • Alignment with core capabilities
        • Alignment with other company initiatives
        • Fit with organizational structure
        • Fit with company’s culture and values
        • Ease of technical implementation
      • Project’s viability—assessed by 4 criteria
        • Market value potential
        • Time to positive cash flow
        • Personal requirements
        • Funding requirements
      • Tjan’s portfolio strategy—Internet portfolio map
    • Exhibit 11.4 Tjan Application Portfolio Map
    • Strategic Directions at Chubb
      • Typical choice of EC model at Chubb Corp.
        • Create a new business model with EC as a major driver—discarded because they had a successful business model with products matching distribution systems
        • Spawn a secondary business model around EC; go directly to consumers—did not want to interrupt their relationships with agents and brokers
    • Chubb Corp. (cont.)
        • Use EC as a tool within the existing business model (the selected model)
          • Helped Chubb further differentiate products and services by providing superb customer service over the Internet
          • Opened several Web sites—one for each specialty group (e.g., for wine collectors)
          • Enables superb communication with agents and business partners
          • Allows business expansion into 20 countries
    • Making the Business Case for EC
      • Business case—written document that is used by managers to garner funding for specific applications or projects by providing justification for investments
        • Provides foundation for tactical decision making and technology by management
        • Helps clarify the company’s use of its resources to accomplish the e-strategy
    • Content of an E-Business Case
      • Business case for EC approach for garnering funding for projects used to:
        • Provide justification for investments
        • Provides bridge between EC plan and the execution
        • Provides foundation for tactical decision making and technology risk management
        • Clarifies how the organization will use resources to accomplish the e-strategy
    • Content of an E-Business Case (cont.)
      • Content of an E-business case
        • Strategic justification—”where are we going?”
        • Generational justification—”how will we get there?”
        • Technical justification—”when will we get there?”
        • Financial justification—”why will we win?”
    • Cost-Benefit and Risk Analysis
      • How to conduct an
      • e-business case
        • Develop goal statement
        • Set measurable goals
        • Develop short- and long-term action plans
        • Gain approval and support
      • Revenue model
        • Properly planned revenue model is a critical success factor
        • Revenues from sales depend on customer acquisition cost and advertisement
        • Must be figured into the analysis
    • Cost-Benefit and Risk Analysis (cont.)
      • It is difficult to justify EC investment due to many intangible variables
        • Return on investment (ROI)
        • Discounted cash flow
      • Two common methods
        • Value proposition
        • Risk analysis
      Variables
    • Value Proposition
      • Value proposition—the benefit a company can derive from implementing a new project, such as EC, usually by increasing its competitiveness and by providing better service to its customers
      Service
    • Risk Analysis
      • Risk analysis program should
        • Identify all potential risks
        • Assess potential damage
        • Evaluate possibility of protection (insurance)
        • Evaluate cost of protection vs. benefits
      • E-business risks
        • Strategic risks
        • Financial risks
        • Operational risks
      Risk
    • Issues in Strategy Formulation
      • How to handle channel conflicts
        • Let established old-economy-type dealers handle e-business fulfillment
        • Sell some products only online
        • Help your intermediaries (e.g., build portals)
        • Sell online and off-line
        • Do not sell online
    • Issues in Strategy Formulation (cont.)
      • How to handle conflict between off-line and online businesses
        • Clear support of top management
        • Use of innovative processes that support collaboration
        • Clear strategy of “what and how”
    • Issues in Strategy Formulation (cont.)
      • Pricing strategy
        • Setting prices lower than off-line business may lead to internal conflict
        • Setting prices at the same level may hurt competitiveness
      • Should you get financing from big venture capital firms?
        • Venture capital financing causes loss of control over business
        • Benefit: access to various VC experts and get the cash you need
    • Strategy Implementation
      • Strategy implementation--The execution of the e-strategy plan, in which detailed, short-term plans are developed for attaining strategic goals
        • Establish a Web team that continues the execution of the plan
        • Start with a pilot project
        • Planning for resources
    • Strategy Implementation (cont.)
      • Strategy implementation issues
        • Evaluating outsourcing
          • Build an in-house EC infrastructure
          • Purchase a commercial EC software package or EC suite
          • Use a Web hosting company
        • Partners’ strategy
        • How to coordinate B2B and B2C
    • Strategy and Project Assessment
      • Strategy assessment—the periodic formal evaluation of progress toward the organization's strategic goals; may include needed actions and strategy reformulation
      • Objectives of assessment
        • Find out if EC project delivers what it was supposed to deliver
        • Adjust plans if necessary
        • Determine if EC project is still viable
        • Reassess initial strategy in order to learn from mistakes and improve future planning
        • Identify failing projects as soon as possible and determine reasons for failure
    • Measuring Results & Using Metrics
      • Metric—a measurable standard or a target against which actual performance is compared
        • Response time to customers’ enquiries
        • Response quality
        • Security/trust level
        • Download time,
        • Timeliness of fulfillment
        • How up-to-date information
        • Availability
        • Site effectiveness, ease of use, and navigability
    • Measuring Results & Using Metrics (cont.)
      • Balanced scorecard—a structured methodology for measuring performance in organizations, using metrics in four areas
        • Finance
        • Customers’ assessments
        • Internal business processes
        • Learning and growth
    • Measuring Results & Using Metrics (cont.)
      • Performance dashboard—a structured methodology proposed by Rayport and Jaworski (2001) for measuring EC performance using:
        • Desired outcomes
        • Corresponding metrics
        • Leading and lagging indicators of performance
    • EC Failures & Lessons Learned
      • E-Tailing failures
        • Lack of funding
        • Incorrect revenue model
      • Exchange failures
        • Revenue growth too slow
        • Need to move to new business model
      • EC initiatives failures
        • Levi Strauss stopped online direct sales of its apparel (levistrauss.com) when major distributors and retailers put pressure on the company not to compete with their brick-and-mortar outlets
    • Success Stories & Lessons Learned
      • Reasons for success:
        • Brick-and-mortar companies add online channels
        • Mergers and acquisitions
        • Peter Drucker:
          • Analyze the opportunities
          • Go out to look
          • keep it focused
          • Start small (one thing at a time)
          • Aim at market leadership
    • Success Stories & Lessons Learned (cont.)
        • Asian CEOs CSFs:
          • Select robust business models
          • Understand dot-com future
          • Foster e-innovation
          • Evaluate a spin-off strategy
          • Co-brand
          • Employ ex-dot-com staffers
          • Focus on the e-generation as your market
        • Get the technology right, avoid expensive technology and technology malfunctions
    • Virtual Communities
      • Virtual community—a group of people with similar interests who interact with one another using the Internet
      • Elements of interaction:
        • Communication—bulletin boards, chat rooms/threaded discussions, e-mail and instant messaging
        • Information—directories and yellow pages, search engine, member-generated content
        • EC elements—e-catalogs, shopping carts, ads, auctions of all types
    • Virtual Communities (cont.)
      • Communities of transactions—facilitate buying and selling
      • Communities of interest—people interact with each other on a specific topic
      • Communities of relations (practice)—organized around certain life experiences
      • Communities of fantasy—share imaginary environments
    • Virtual Communities (cont.)
      • Commercial aspects of community:
        • Understand a particular niche industry
        • Build a site that provides valuable information
        • Site should mirror the steps a user goes through in the information-gathering and decision-making process
        • Build a community that relies on the site for decision support
        • Start selling products and services that fit into the decision-support process
    • Exhibit 11.9 Value Creation in E-Communities
    • Virtual Communities (cont.)
      • Financial viability of communities
        • Based on sponsorship and advertisement
        • Expenses are very high because of the need to provide:
          • Fresh content
          • Free services
          • Free membership
        • This model did not work well, many companies sustained heavy losses in 2000-2001; too few members, too few purchases
    • Virtual Communities (cont.)
      • Key strategies for successful online communities
        • Increase traffic and participation
        • Focus on the needs of the members (facilitators and coordinators)
        • Encourage free sharing of opinions and information
        • Financial sponsorship is a must
        • Consider the cultural environment
        • Provide tools and activities for member use
        • Community members involved in activities and recruiting
        • Guide discussions, provoke controversy, and raise sticky issues
    • Going Global
      • Decision to go global is a strategic one
        • Geographical borders are falling
        • Artificial borders are being erected through
          • Local language preferences,
          • Local regulations
          • Access limitations
    • Benefits and Extent of Operations
      • Major advantage of EC—ability to do business any time, anywhere, rapidly at a reasonable cost
      • Success stories
        • E*TRADE or boom.com as your broker for stock trading
        • Amazon.com
        • Small companies sell to hundreds of customers worldwide (virtualvine.com)
        • Increasing number of out-of-the-country vendors participate in electronic requests for quotes
        • Successful employees recruitment
        • Successful collaboration in B2B exchanges
    • Barriers to Global Electronic Commerce
      • Legal Issues
        • Uncoordinated actions must be avoided and an international policy of cooperation should be encouraged
      • Market Access Issues
        • Companies starting e-commerce need to evaluate bandwidth needs by analyzing the data required, time constraints, access demands, and user technology limitations
      • Financial Issues
        • Customs and taxation
        • Electronic payment systems
    • Small Business Goes Global
      • Cardiac Science—trying to break into the international market for years
        • Within 2 years after Internet inception in the company, it was shipping its products to 46 countries
        • Today, 85 percent of the company’s revenue is international, much of this is executed at (cardiacscience.com)
    • Small Business Goes Global (cont.)
      • Advice for small businesses going global at:
        • Universal Business Exchange ( unibex.com )
        • Several government agencies ( stat-usa.gov )
      • Cardiac’s CEO “crafting a solid export strategy takes a lot more commitment than putting up a snazzy Web site and waiting for the world to show up at our door. It’s all about building relationships.”
    • Barriers to Global Electronic Commerce (cont.)
      • Other Issues
        • Language and translation
          • Primary problems are cost, speed, inaccuracy
        • Localization
          • Adapt local business practices
        • Culture
          • Multiple cultures warrant different marketing approaches
    • Attracting Japanese Customers to Your Site
      • English-Japanese Promotion ( ajpr.com )
        • Helps clients avoid the mistakes often made when they selling to the Japanese customers
        • Target audience uses Japanese-only Web search engines
        • Alert companies when logos or themes are likely to strike a sour chord with Japanese sensibilities
    • Japanese Customers (cont.)
        • Japanese respond well to symbols or characters
        • Product should be geared to Japanese males in their twenties and thirties
      • Ajpr.com also provides help to Japanese companies develop English versions of their sites
        • Provides localization advice
        • Advertising
        • Document translation
        • Consulting services
    • Breaking down the Global EC Barriers
      • Value the human touch
      • Be strategic
      • Know your audience
      • Be a perfectionist
      • Remember, it’s the Web
      • Integrate properly
      • Keep the site flexible and up-to-date
      • Synchronize content
      • OECD (oecd.org) read
      • “ Dismantling the Barriers to Global EC”
    • EC in SMEs
      • Advantages/benefits of EC in SMEs
        • Inexpensive
          • Source of information
          • Advertising
          • Conducting market research
          • Build (or rent) a storefront
          • Low transaction costs
          • Niche markets are best
          • Provide catalogs
          • Way to reach worldwide customers
    • EC in SMEs (cont.)
      • Disadvantages/risks
        • Inability to use EDI, unless it is EDI/Internet
        • Lack of resources to fully exploit the Web
        • Lack of expertise in legal issues, advertisement
        • Less risk tolerance than a large company
        • Disadvantage when a commodity is the product (for example, CDs)
        • No more personal contact, which is a strong point of a small business
        • No advantage to being in a local community
    • Critical Success Factors for SMEs
      • Capital investment must be small
      • Inventory should be minimal or non-existent
      • Electronic payments scheme
      • Payment methods must be flexible
      • Logistical services must be quick and reliable
      • The Web site should be submitted to directory-based search engine services
      • Join an online service or mall and do banner exchange
      • Design a Web site that is functional and provides all needed services to consumers
    • Supporting Small Business
      • Technical support from IBM (for a fee of only $25 per month) at ibm.com.search:businesscenter
      • Digital’s virtual stores
      • Microsoft’s Personal Web Server (PWS)
      • U.S. government at ecommerce.gov
      • Gartner Group provides access to online research material at gartner.com
    • Business Process Reengineering (BPR)
      • Organizational transformation—the process of completely or drastically transforming an entire organization to a new mode of operation
      • Business process reengineering (BPR)—a methodology for comprehensive redesign of an enterprise’s processes
    • BPR (cont.)
      • Redesign of the enterprise process and BPR
        • Does not make sense to automate poorly designed process—so restructure
        • Necessary to change processes to fit commercially available software
        • Fit is required between systems and processes of different companies
        • Change processes to fit procedures and standards of public e-marketplaces
        • Adjust procedures and processes to align with available services (logistics, payments, security)
        • Changes to assure flexibility and scalability
    • Workflow Technologies
      • Workflow system—software programs that manage all the steps in a business process from start to finish, including all exception conditions
      • Two categories:
        • Collaborative workflow—products address project-oriented and collaborative processes
        • Production workflow—tools address mission-critical, transaction-oriented processes
    • Virtual Corporations
      • Virtual corporation—an organization composed of several business partners (some of whom may be pure-play EC players) sharing costs and resources for the production or purchasing of a product or service
      • Major attributes of VCs:
        • Utilization Excellence
        • Opportunism Lack of borders
        • Trust Adaptability to change
        • Technology
    • The Future of EC
      • Internet usage
      • Opportunities for buying
      • M-commerce
      • Purchasing incentives
      • Increased security and trust
      • Efficient information handing
      • Innovative organizations
      • Virtual Communities
      • Payment systems
      • Business-to-business
      • B2B exchanges
      • Auctions
      • Going global
      • E-government--comprehensive
      • Intrabusiness EC
      • E-learning
    • EC Technology Trends
      • Clients
      • Embedded clients
      • Servers
      • Networks
      • Wireless communications
      • EC software and services
      • Search engines
      • P2P technology
      • Integration
      • Wearable devices
    • The Digital Divide
      • Digital divide—the gap between those who have and those who do not have the ability to access electronic technology in general, and the Internet and EC in particular
      Digital Divide
    • Integrating Marketplace and Marketspace
      • Click-and-mortar organization
        • How to cooperate in planning, advertising, logistics, resource allocation
        • How to align the strategic plans
        • B2C ordering systems
      • The impact of EC on our lives may be as much as, or more than that of the Industrial Revolution
    • Managerial Issues
      • What is the strategic value of EC to the organization?
      • What are the benefits and risks of EC?
      • What metrics should we use?
      • Can we do a pilot project?
      • Do we have a community?
      • How can we go global?
      • Can we learn to love smallness?
      • Is restructuring needed?
    • Summary
      • Importance of strategic planning for EC
      • The strategy planning and formulation process
      • Application discovery, justification, and prioritization
      • EC strategy implementation and assessment
    • Summary (cont.)
      • Understanding failures and learning from them
      • The role and impact of virtual communities
      • Issues in global EC
      • Small businesses and EC
      • Restructuring and virtual organizations
      • The future of EC