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Overview of e-Commerce Framework
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This lecture presents a working definition and framework for the study and practice of e-commerce, as well as a review of the e-commerce landscape. The lecture outlines the key differences that define the new economy for managers and strategists. Most notably, the lecture divides the world of new-economy businesses into several key groups, including business-to-consumer, business-to-business and consumer-to-consumer.
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Framing the Market Opportunity
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This lecture revisits the basics for any business to construct an original networked-economy approach to formulating business strategy. This lecture provides a discussion of what market analysis becomes in this networked world and an introduction to a process that not only provides an understanding of markets as a whole but also identifies portions of the market that are unserved or underserved. This lecture identifies five conditions that must be carefully analyzed to determine if there is a market opportunity for the firm.
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Business Models
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This lecture introduces the four components of the marketspace business model: the value proposition or cluster; the product or marketspace offering; the resource system that the firm selects to deliver the offering; and a financial model that enables the business to generate revenues, cash flows and, ultimately, profit margins or valuation potential.
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Customer Interface
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The lecture focuses on the most visible presence of most e-commerce businesses -- the digital or rich-media interface. While new-economy businesses may make substantial use of traditional offline interfaces, they rely primarily on a virtual storefront connected to the Internet. This lecture develops a set of design tools and elements -- the 7Cs of the customer interface.
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5a. |
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Market Communications
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In the demand-oriented networked economy, there is nothing more valuable than mindshare, or the ability to attract and hold the attention of markets and customers. The traditional tools of attention management are marketing communications. This lecture explores the variety of traditional and new-media communications approaches that provide competitive advantages to networked economy businesses.
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Branding
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This lecture considers the extraordinary power of brands in this new, information-enabled world. Many believed that the Web would create a world of downward price pressures and rapid commoditization of goods and services of all kinds. As this lecture illustrates, the opposite has occurred. Brands are more important than ever -- and some would argue that, at least in business-to-consumer ventures, they are essential to success.
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Implementation
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This lecture looks at how e-commerce strategies are put into action. The networked economy environment is one in which businesses operate in constant dynamic dialogue with their markets. Strategy and implementation are no longer two separate elements; rather, there is continuous back and forth between them, and both must be continually revisited to account for new information.
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Metrics
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The networked economy demands new approaches to the measurement and evaluation of business results. This lecture reviews the unprecedented opportunities businesses now have to capture information about market operations and customer behavior. The lecture also introduces a new management tool, the Performance Dashboard, that captures early indicators of the progress of an e-commerce strategy as well as outcome measures such as customer satisfaction and financial performance.
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Valuation
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Drawing on the work of Tom Copeland, this lecture outlines how to determine or project the valuation of an e-commerce business. It provides a brief primer on basic valuation techniques (such as discounted cash-flow analysis) for students new to the topic, as well as some more sophisticated techniques (such as real options analysis) for more advanced students. The focus is on new and rapidly growing companies -- in particular, dot-coms that have yet to show a profit.
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Network Infrastructure
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This lecture considers how market-level dynamics that operate outside the formal boundaries of an organization provide the infrastructure for traditional and new business approaches. The lecture provides an overview of the hardware, software, servers and parts that make up the enabling "railroad" for the new economy.
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Media Convergence
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This lecture reviews the key drivers behind new-economy media convergence, and the synergistic benefits of such a convergence. Topics covered include the transformation of media from an analog platform to a digital one, the consequences of value migration from old media to new media and the positive and negative effects of network economics, including a discussion of the pros and cons of mega-mergers.
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