E business by bhawani prasad - iimc

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Bhawani Nandan Prasad 1 E-Business Strategy Bhawani Nandan Prasad Management Education from IIM Calcutta and Stratford University, USA

Transcript of E business by bhawani prasad - iimc

Page 1: E business by bhawani prasad - iimc

Bhawani Nandan Prasad 1

E-Business Strategy

Bhawani Nandan Prasad

Management Education from IIM

Calcutta and Stratford University, USA

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What Is Strategy

• A strategy consists of a pattern of decisions

that set the goals and objectives that lead to

long run competitive advantages for a firm.

– Undertake a SWOT analysis.

– Determining distinctive competencies.

Determining the competitive arena.

– Develop a plan to reach the business goals.

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Definitions:

• A value chain is a way of envisioning the

collection of activities that a business

undertakes to design, produce, market,

deliver, and support products or services.

• The Competitive Arena is the competitive

environment in which a business competes.

• Distinctive Competencies are unique areas

of advantage where a firm can differentiate

itself from competitors.

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Steps for Strategy Development

• Undertake a SWOT analysis.

– Evaluate the Strengths, Weaknesses,

Opportunities, and Threats facing a business.

• Determining distinctive competencies.

– Analyze a business’s value chain to help

identify internal strengths and weaknesses that

can help determine how a business can

compete.

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Steps for Strategy Development

• Determining the competitive arena.

– Determine the competitive environment in which a

business competes

• Helps set the mission

• Indicates the windows of opportunity to be pursued

• Identifies the competitive environment.

• Develop a plan to reach the business goals.

– Outline the strategic actions and tactics a business must

undertake to move from where and how it currently

competes to where and how it needs to compete given

its distinctive competencies.

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Model of Strategy Development

Value Chain

(Strengths &

Weaknesses)

Strategy

Co

mp

etit

ive

Th

reat

s

Str

ateg

ic

Dri

ver

s

Environmental Forces

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Business Models

• A business model, or commerce model, is

the basic process flow indicating how a

business operates.

• Business process modeling is a systematic

approach to viewing organizations and the

complex relationships that are required to

make the business operate.

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Analyzing Business Models

• Four perspectives:

– Functional perspectives: identifies the functions

within a business an how they interact.

– Behavioral perspective: identifies when and how

functions are performed in a business.

– Organizational perspectives: identifies where and

by whom functions are undertaken.

– Informational perspectives: identifies what types of

information are identified and how do they flow.

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Developing E-Business Models

• Requires a process of identifying the functional process flows of a business and then modeling how the application of e-business procedures can result in competitive advantage.

• This requires a six-step process: 1. Identify the functional areas and major player.

2. Indicate how these area are linked and the directions of the flow process.

3. Determine what e-business tools and techniques can be applied to the business model.

4. Develop a new e-business model flow.

5. Evaluate the competitive advantages of the model by using a value chain analysis.

6. Determine the likelihood of acceptance of the new model.

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E-BUSINESS STRATEGY

• Low cost and therefore low price

competitor.

– A "frictionless" Internet market implies that

customers have almost perfect information and

can compare prices around the world (by using

intelligence agents to search out the best prices

enhances this process).

• Differentiation strategy by finding a

unique market position against competitors.

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Methods of Differentiation

Differentiation

Strategy

Advantages Disadvantages

Gain Speed &

First Mover

Advantages

This provides a

number of first mover

advantages including

costs, meeting needs,

lowering risk, and

lower prices.

Firms need to be

flexible to be fast.

Being first increases

risks and may require

large amounts of capital

to maintain advantages.

Build Brand

Name

Gives buyers

assurance when

interacting with a site.

Allows for easy name

recognition.

Requires a large

amount of capital to

obtain and maintain a

brand name.

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Speed and First Mover Advantages

• A pioneering firm has differentiated itself

from competition because it is the first to

enter a competitive arena or it is able help

define the competitive arena.

– Advantages:

• Lower Costs

• Meeting Current Needs

• Lower Consumer Risk Perception

• Charge Higher Prices

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Costs Advantages

• May increase the business’ or product's time in a

life cycle, spreading development costs over time

and the number of products produced. Firms that

follow have less time in the life cycle to recover

all costs

• An early entry firm can gain cost advantages

through experience curves and when greater

market shares are obtained they obtain greater

economies of scale.

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Meeting Current Needs

• The faster a business can respond to the market,

the more likely that information from areas such

as marketing research will be valid resulting in

actions that could lead to higher market share.

• First, movers have been shown to have a

substantially higher market share than later

entrants. A product that is six months late to

market may miss out on one third of the potential

profit over the product's lifetime.

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Consumer Risk Perceptions • First mover may become the comparison standard for all

rival products by setting the standard for performance.

• Consumers may lower the risk involved in purchasing by

choosing a product with an established image or brand.

• Innovators and early adopters may try first mover products

first and influence others through the diffusion process.

• Advertising and publicity aids in consumer search, but

given the lack of alternative products in many innovative

markets, advertising may have the effect of setting

relevant product attributes the consumer uses in the

evaluation process.

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Comparison Standard

and Switching Cost

• A comparison standard is what the customer

uses to judge a product.

– For example, if a customer had first gained their online

search experience with Yahoo!, they will evaluate all

other search engines against Yahoo.

• A switching cost is the additional "costs" involved

in learning something new.

– The costs involved in adopting a new software package

would include the software expense, support, training

costs, and slowed productivity costs.

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First and Second Movers

• Being the first entrant into a market does not

guarantee a long term competitive advantage.

A firm must have:

– Expertise, resources, and creativity necessary to

exploit first mover opportunities.

• Pioneers must find ways to forestall or neutralize

the efforts of later entrants or they will not gain

first mover advantages.

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Building Barriers

• Entry Into an Industry Can Be Limited by:

– Gaining Economies of Scale

– Cost Advantages

– Developing High Switching Cost

– Brand Names

– Strong Customer Relationships

• Development of Portals

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Brand Names

• A brand is a sign, symbol, design, term, name or

combination that allows for easy recognition of a

product or company.

– Brand names often give assurance to the

purchaser because they believe that the risk of

using a brand name is lower.

• Build online brand names by:

– Online and offline advertising

– Ease of navigation and overall experience that a

user has with the Web Site.

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Portals

• A portal is an entranceway onto the Internet.

• They are often the preferred starting point for:

– Searches

– Entertainment

– Information,

– Email,

– Or any other Internet based product.

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Alliances & Acquisitions

• The creation of an e-business value chain

may come from forming alliances or

through the acquisition.

– Alliances are formal or informal relationships

between independent companies that work

together for a common purpose.

– An acquisition exists when one corporation

purchases all or a controlling part of another

company.

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E-business Infrastructure

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Learning Objectives

To understand –

• Role of backend systems in implementation of e-

business.

• Technological expectations from e-business

framework

• Fundamentals of essential technologies as a

background for e-businesses

• Internet protocols and their comparison

• enterprise middleware management, database

management, and dynamic web programming

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Backend System Support

Requirements • e-business needs to continuous change in its

processes and expertise to cope up with

changing technology and customer needs

• It is crucial to be well-acquainted with the web

technology and keep track of new web

developments

• An e-business should possess enterprise

computing and a solitary, completely integrated

information and communication system, which

needs infrastructure / platform / framework at

the back-end that is flexible enough to alter

according to the needs and changes in

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E-business Framework Characteristics

An e-business framework needs to possess

characteristics such as –

- Security - Flexibility

- Scalability - Availability

- Adaptability - Manageability

- Maintainability - Assurance

- Inter-operability

- Load balancing

- Fault Tolerant Systems

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Internet—Technology

Background • Allows computers to connect to cell phones,

cell phones to broadband Internet or

wireless Internet etc.

• Build with web services, peer-to-peer

applications, grid computing, etc.

• A broad understanding of WWW

architecture and Internet technologies is

very essential for developing e-business

applications in order to run the business

successfully.

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The Internet • An interconnected network of thousands of

networks, which are made up of millions of

computers

• Consists of different types of networks,

physically separate and connected only at

particular points

• Every network connecting to Internet should

follow a set of communication protocols

known as Internet protocols

• Every network consists of nodes and channels

• Nodes can be either end nodes or intermediate

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Internet Protocol • A protocol is a set of rules and standards to be

adopted by a system for data transmission on the

network

• Internet protocol is a set of rules and techniques

that are used to transmit data between nodes

over the Internet

• Data are transmitted across the packet switched

network using TCP/IP, which is also known as

an Internet Protocol Suite (IPS)

• These protocols are based on the OSI/ISO

model of networks, which divides the network

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OSI / ISO Layer

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TCP/IP Protocol • TCP/IP is a communication protocol developed

to govern the formatting, ordering, compressing,

and error evaluation of a message on the

network

• It specifies the speed of transmission and the

means that enable network devices to indicate

that the sending or receiving of a message has

been completed.

• TCP establishes a connection between the

sender and the receiver nodes, and ensures that

the packets that are transmitted by the sender

computer are received accurately by the receiver

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IP Address • A unique IP address is given to every node on the internet

• An IP address comprises of a set of four numbers separated

by a ‘.’ e.g. 129.25.0.217

• Each number in this set is between 0 and 255

• First three sets of numbers recognize the local area network

and the last number denotes a specific computer in that

network

• IP addresses are associated with domain name to remember

it easily

• The Domain Name System automatically translates the web

address or the name typed by the Internet users into the

corresponding numeric IP address

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IP Address Cont.. • A Uniform Resource Locator (URL) is used by browsers to

identify the location of a computer on the web

• URL consists of the protocol to be used when accessing the

address (e.g. HTTP), and followed by its location

• Network Address Translation (NAT) allows an

organization’s Intranet to use a range of IP addresses not

visible outside the company’s Intranet

• Sometimes, one node can have more than one IP address

• Internet Protocol Version 4 (IPv4) can address four billion IP

addresses.

• Internet Protocol Version 6 (Ipv6) uses 128-bit addresses,

which allow address space of 2128 addresses!

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Client Server Computing Model

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Other Internet Protocols In addition to TCP/IP, Internet protocols also

include –

• HTTP

• FTP

• SSL

Few Utility Programs on internet -

• PING

• TraCert

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Internet Software • It is a basic software that runs on every computer / node that

needs to connect to the Internet

• Used mainly to implement Internet protocols

• Can be independent, stand-alone software, inbuilt application

software, or system software

• Web browser is a commonly used software interface to

exchange business information between client and server

• Additional functions are implemented in routers and servers

to allow routings / other processing in the network

• Typical tools used to implement e-business application

software include Java Script, XML, Flash, PHP, Asp.Net, c#,

VB.net, etc.

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Network and System

Administration • An appropriate network and system

administration has become a critical criterion

of success to meet the challenges in an e-

business.

• A network / system management structure

should –

1.Allow to keep track of every single component

of the network centrally

2.Be able to gather the information from every

part of the network quickly

3.In case of a failure, should be able to correct it

Support multiple vendors and organizations in

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Network and System

Administration Cont.. 5. Needs to handle different types of hardware,

software, operating systems, platforms, and

network protocols

6. Be open-ended, that it should be able to add

new organizations and their infrastructure into

the overall infrastructure

7. Address all types of resources, such as

various databases, applications, networks,

systems, etc.

8. Network management and Internet business

system software include OpenView by HP,

Unicenter TNG by Computer Associates, and

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Security Implementation in e-businesses

• Additional security measures have to be

implemented in internet communication to

maintain privacy, confidentiality,

availability, integrity of e-businesses

• Security attacks are mainly due to wrongly

constructed software, human errors, or

missing processes

• Number of technologies are available to

ensure information security, such as –

• A firewall

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Database Management Systems and

Dynamic Web Programming • Database on the web server can offer e-business websites a

powerful mechanism to store and retrieve database from

anywhere

• Database can consist of products and services that are

provided by an e-business or a client’s data input through the

website

• Dynamic websites utilize data stored on the web server

• Database management system for implementing dynamic

websites should possess the following characteristics -

• It should be a multiuser DBMS.

• It should help in supporting a distributed, concurrent

environment.

• It should be secure

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Design and Development of a

Business Website

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Learning Objectives

To understand –

• Importance of planning a site, its contents and designing

attractive as well as effective business websites

• Issues and steps involved in building and launching an e-

business website

• Role of ISP in hosting and maintaining the websites

• e-business solutions available in the market and the

selection criterions that best suit the business req.s

• Security issues involved in websites

• Website traffic tracking and analysing how it helps to take

better business decisions

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Introduction • Innovations in the business operations to improve the

services to be provided to the customers

• Continuous updations in business processes to meet the

needs of changing technology

• Success or the failure of an e-business depends on lots

of technical factors

• To start a business, what is needed is high quality,

innovative products / services to offer, innovative

internet marketing strategies by taking advantage of the

state of the art technological advancements

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Issues involved in designing a

website • A presence of an organization on the Web

can be established through its website

• The website is known as the ‘visiting card’

of the company in cyberspace

• Websites becoming more and more secure

places to do business and commerce, with

technological advances

• Designing a business website has to be

handled very professionally to attract

valuable customers and retain them

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In house Website Design

• In-house website design and development has to observe few

customs to utilize advantage of having a business website

• Hire best personnel

• Maintain the balance between aesthetics and technology in

business websites

• Take care of the following aspects as - Ease of navigation,

optimal use of graphics and multimedia, page loading time,

memory usage / requirements, facilities provided on the

website, security issues, ease of purchasing, and ease of

payment

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In House Design of Website

• Organization needs to buy/own a complete set of website

designing tools, such as HTML editors, image and graphics

software, scanners, and so on

• A readymade software can also be used to readily build e-

commerce enabled websites

• There can be a few limitations to use such solutions -

– All the websites created with such templates may look and

work on similar lines

– They may lose that special and unique touch of the

company

– The level of customization is always limited with such

ready-made tools

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Steps Involved in Website Development

The complete procedure of getting ready the

website for a self-owned e-business can be

viewed as a sequence of five steps.

• Plan the website, select/ finalize the domain

name, register it

• Design the business website

• Finalize ISP and host the website

• Test it thoroughly

• Promote it and maintain it

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Deciding the Website Contents

• Most important step in planning for a business website

• Planning the contents should mostly depend on –

– What the customers are interested in

– What the value added services are that should be focused upon

– What the objective behind starting the e-business

– Type of website and so on

• Website contents can be primary and secondary contents

• Interesting contents, attractive graphics, multimedia, news,

statistics attract customers as well as retain them

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Website Contents • Website contents should satisfy few requirements, as-

– the language used should be easy–to-understand

– contents should not be lengthy and verbose

– multiple language facilities should be provided

– Genuine, well-written contents can help the search

engines to locate the website quickly

• Business website contents can be categorized as -

– Informative Contents

– Interactive Contents

– Multimedia Contents, and

– Software Contents

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Informative Contents • Informative contents can be further classified

as –

– Product description

– Images of the products

– Graphs & Statistics

– FAQs (frequently asked questions)

– News

– Reviews

– Newsletter

– Guest columns

– Database etc.

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Interactive contents

• Interactive contents are top-ups, based on

the basic contents of a website

• Interactive contents include –

– Chat rooms

– Message boards

– Contests

– Polls

– Web boards etc.

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Multimedia Contents • Multimedia makes websites colourful & interesting

• Allows in conveying dynamic and interactive contents to the

customers

• A very effective means of advertising a business

• The only care that is needed is to check the memory and

bandwidth requirements to view these files

• It includes a variety of media contents that are used together,

such as –

– Audio - Video

– 3-D graphics - Animation

– Flash media components

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Software Contents

• Software contents include software

programs which can be downloaded from

the site

• It may include the demos or restricted

version of the software products and give

the customers a chance to try the product

without actually buying it

• Few free types of software can also be made

available for downloading

• These include screen savers, wall papers,

etc.

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Website Contents Guidelines The contents on the website -

• Can be made informative by creatively arranging for the contents

• Should be arranged so that the most important / frequently needed

information can be made available with one-two key strokes

• Should be relevant, accurate, licensed, knowledgeable & innovative

• Should be updated regularly to avoid invalid data on the website

• Generally, the most neglected areas are in the upper left corner and

the lower right corner. The best website contents should be placed

by keeping such points in mind

• Should maintain a balance between the interest of the business and

the interest of the customers as well as information content and

entertainment content

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Designing the Business Website • With a clear vision & a solid plan in hand, the task

of designing an e-business website can be started.

• There are two ways to design a business website –

– Designed with the in-house designing team

– Outsource to some web designing company

• A large number of free and paid software solutions

available in the market

• They solutions offer an easy way to build,

maintain and promote the websites quickly and

easily without actually writing any code

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Internet Service Provider (ISP) • A company / organization that provides Internet

connection to its customers

• Connections can be dial up, cable Internet, broadband,

Wi-Fi, etc. OR dedicated high-speed internet leased

line connections, Integrated Services Digital Network

(ISDN), DSL, etc.

• Provides space on the web server, allows to use server

software, high-speed Internet connection and other e-

business features

• Upstream ISP have a larger network & provides access

to the typical ISPs

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Internet Service Provider (ISP) Cont..

• To finalize among various ISPs, one can

compare against the facilities they provide –

– Email Accounts

– Auto Responding Service

– FTP or telnet Facility

– Mailing Lists

– Secure server

– Web statistics

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Internet Service Provider (ISP) Cont..

• Few criterions against which one can select the most

suitable ISP can be –

– network topology, technology, connection speed

– site availability, shared or dedicated server

– future needs of storage space on the server

– email accounts with the same extensions as that of

the domain names

– technical staff, organization, range of services,

unrestricted site updates or time taken for site

updates

– round-the-clock support, guaranteed availability,

cost calculations, security means supported, etc.

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Testing the Website • Websites needs to be tested thoroughly, rigorously, and

exhaustively

• A checklist to test the website before launching -

– Check whether everything on the site works/loads properly.

– Check that downloading from every link has no problem.

– Read page by page and go through the entire content.

– Check images, graphics are placed / displaying correctly

– One / many items can be successfully ordered using the

shopping cart

– Check whether payments can be done successfully and can

receive the acknowledgement

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Testing the Website Cont..

– Check for the loading time of the website with

various types of slow / fast connections

– Check all this on different computers, and even

check for various computer configurations

– Check feedbacks / reviews links working

properly or not

– Whether anybody is able to write, and add to

them

– Everything is working in its predefined way,

even if is being used many a times sequentially

– The website has to be tested again and again,

quite frequently and randomly

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Promote the Website

• Its an essential task of marketing to spread

about the business website among the

people interested in the products / services

• A fully built and thoroughly tested website

has to be added to various search engines,

directories, and guest books

• Use various marketing and advertising

schemes to promote the website

• Needs to be maintained frequently and

regularly to ensure proper functioning of the

business

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Maintaining the Website

• To maintain the proper functioning of the

business website –

– Frequently visit the website and test it as if

testing a newly designed website

– Check all the links and sub-links to ensure that

no link is broken

– Remove all outdated information as well as

products

– Maintain and update news, newsletters,

reviews, and feedbacks

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Maintaining the Website Cont..

– Change the overall look/display of the site once

in a while. It gives a different view to the

visitor

– Stay informed about the new social networks

arriving; and try to get registered there to check

for the latest happenings and accordingly make

arrangements on the website

– Check for the good quality traffic to the

website, and accordingly decide about the

marketing strategies

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e-business Solutions E-business solutions are web applications which helps –

• Enable the business organizations to start and operate

all their business as well as monetary transactions

online, using the Internet or internal network

• Quick start-up of an e-business

• Overall operation of the supply chain

• Operating the database centrally and analysing it to

take better business decisions

• Thus reaching to a wider customer base and improve

success rate of the business

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Advantages of using an e-business

solution – Easy to use, easy to later upgrade, content wise or

technically, as and when needed

– Provide the tools that help to customize as per

individual needs

– Payment processing tools helps in accepting various

payment modes such as credit cards, debit cards, online

banking etc.

– Facilities, such as customer-of-the-day, etc., can be

implemented easily driving more customer traffic to the

online shop

– Measuring website traffic and other tracking

capabilities help measuring and analysing the success of

the online store

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Selection of Suitable e-business Solution Solutions available are categorized into two

categories –

1. Solutions for small/medium-sized businesses

2. Solutions for larger/high end businesses

While choosing an e-business solution, certain

aspects can be considered as -

i. Estimated size of the organization

ii. Allocated budget for the next few months

iii.Estimated sales volume of the business

Cont..

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Selection of Suitable e-business Solution Cont..

iv. The number and variety of products on sale

v. The set of features to be incorporated, such as shopping

cart, payment accepting options, guest columns,

newsletters, etc.

vi. Back end office integration, database integration

vii. Frequency of updating the website

viii.Multi-language/multiple currency support needed or not

ix. Capability to interface with other organizations, such as

suppliers, financial institutes, customers, etc.

x. Scalability against product range and sales volume

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Security Issues Involved in Websites Few important practices which help in keeping the business

website away from electronic crimes -

• Follow the fundamental security practices, such as assigning

user name / passwords to the regular customers

• Apply encryption to transmit every private and important data

• Insist upon security on every aspect of establishing e-business

and convey that to the technology partners too

• Educate the customers regarding how to use the websites

securely for protection

• Add questions and answers regarding security issues in the

FAQ section of the website

• Always remain fully aware of Internet security issues,

solutions available, and take advantage of them

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Analysing the Website Traffic • Visitors to a business website are the key to the success

of the business

• User preferences that are used while surfing the

internet can help in understanding the behavioural

pattern of the site visitors

• Managing, analysing and cautious monitoring this data

in the right way significantly improve further traffic to

the website, revenues

• It can also help in getting an edge over its competitors

• Web traffic analysis software can be used which can

access the logs and create various reports