E Business Planning, Strategy & Management part 2

Summary

This video lecture introduces strategic management in e-business, focusing on the strategic process, internal analysis, and tools like SWOT and value chain analysis. It outlines various strategic process models, emphasizing the importance of understanding a company's strengths, weaknesses, opportunities, and threats. The lecture also discusses e-business capabilities, development stages, and strategic importance through models, providing a foundation for strategic decision-making in the digital era.

Takeaways

• 📈 Strategic process involves a series of decisions and actions aimed at achieving long-term goals through internal and external analysis.
• 🔍 SWOT analysis is introduced as a tool to identify an organization's strengths, weaknesses, opportunities, and threats.
• 🌐 The importance of analyzing both internal and external factors is highlighted, with tools like the value chain for internal analysis and PEST analysis for external factors.
• 📊 Various strategic process models are presented, including business strategic framework, corporate strategy model, and sequential marketing strategy model.
• 🏭 Internal analysis is crucial for understanding an organization's strengths and weaknesses, and for identifying resources and core competencies.
• 💡 E-business capabilities are discussed in terms of technological infrastructure, applications, and the necessary financial and human resources.
• 📈 Stage models are used to assess the maturity of a company's use of ICT in its processes, with examples given for e-commerce and buy-side e-commerce.
• 📊 Propensity analysis helps assess the current information system's capabilities and informs future strategy, with quadrants based on current and future strategic importance.
• 🔑 The value chain analysis is explained, focusing on how organizations can add value to their products or services through different activities.
• 🔄 Value Network and Value Shop models are introduced as alternatives to the value chain, suitable for different types of business operations.
• 🔍 The lecture concludes with questions for the viewer to consider, such as describing SWOT analysis and the stages of business development.

Q & A

What are the key elements of the strategic process?

The strategic process key elements include internal and external analysis. The internal analysis helps to understand the organization's strengths and weaknesses, while the external analysis looks at opportunities and threats.

What does SWOT analysis stand for?

SWOT analysis stands for Strengths, Weaknesses, Opportunities, and Threats. It is a tool used to help organizations analyze their internal resources and match them against the external environment.

What are the four strategies derived from a SWOT analysis?

The four strategies derived from a SWOT analysis are Strength-Opportunity Strategy, Weakness-Opportunity Strategy, Strength-Threat Strategy, and Weakness-Threat Strategy.

What is the purpose of the Value Chain analysis?

The purpose of the Value Chain analysis is to focus on configuring and coordinating resources on those activities that produce the product most efficiently.

What are the two main ways of adding value according to the Value Chain analysis?

The two main ways of adding value according to the Value Chain analysis are differentiating the product or service so that customers perceive added value, and reducing the cost of producing the product below that of competitors.

What are the primary activities in the Value Chain model?

The primary activities in the Value Chain model include Inbound Logistics, Operations, Outbound Logistics, Marketing and Sales, and Service.

What are the support activities in the Value Chain model?

The support activities in the Value Chain model include Procurement, Technology Development, Infrastructure, and Human Resource Management.

What is the significance of the stage model in observing eBusiness development?

The stage model is significant in observing eBusiness development as it helps review how advanced a company is in its use of information and communication technology resources to support its processes.

What are the stages of the e-commerce model described in the script?

The stages of the e-commerce model are Email Marketing, Brochure Websites, Interactive Sites, Online Ordering, Relationship Building, and Site Optimization.

What are the stages of the buy-side e-commerce model described in the script?

The stages of the buy-side e-commerce model are RW Suppliers, Stock Availability, Online Catalogs, Online Ordering, Integrated Databases, and Supply Chain Optimization.

What is the difference between Value Chain and Value Network models?

The Value Chain model is suitable for manufacturing businesses where value is added through a series of activities. The Value Network model is for firms that create value by creating networks to their customers or linking different types of customers.