Podcast
Questions and Answers
What is the primary focus of a company's internal environment analysis?
What is the primary focus of a company's internal environment analysis?
Which of the following is a key element of the economic factors in the macro environment?
Which of the following is a key element of the economic factors in the macro environment?
What is a characteristic of a company's core competencies?
What is a characteristic of a company's core competencies?
What is the primary benefit of e-businesses in terms of their environmental impact?
What is the primary benefit of e-businesses in terms of their environmental impact?
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Which of the following is an example of a technological advancement that creates new market opportunities?
Which of the following is an example of a technological advancement that creates new market opportunities?
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What is the primary focus of vision-driven thinking in e-business strategy?
What is the primary focus of vision-driven thinking in e-business strategy?
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What is a characteristic of globalization in the context of e-business?
What is a characteristic of globalization in the context of e-business?
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What is the primary focus of creative thinking in e-business strategy?
What is the primary focus of creative thinking in e-business strategy?
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What is a critical factor in understanding and responding to market dynamics and competition?
What is a critical factor in understanding and responding to market dynamics and competition?
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Which of the following is a key aspect of digital literacy and skills training?
Which of the following is a key aspect of digital literacy and skills training?
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What is the primary purpose of conducting a SWOT analysis?
What is the primary purpose of conducting a SWOT analysis?
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What is the significance of suppliers and partners in the digital landscape?
What is the significance of suppliers and partners in the digital landscape?
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Which of the following is a key aspect of strategy formulation?
Which of the following is a key aspect of strategy formulation?
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What is the primary purpose of setting and monitoring KPIs?
What is the primary purpose of setting and monitoring KPIs?
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Study Notes
External Environment - Macro Environment
- Political and Legal Environment:
- Influences taxation, company legislation, government subsidies, political stability, internet governance, and interest rates
- Issues like cross-border regulation and taxation complexity affect e-commerce
- Economic Factors:
- Market growth, employment, inflation rate, interest rates, and foreign exchange rates
- Globalization necessitates capabilities like 24-hour service, regulatory expertise, and market understanding
- Social Environment:
- Factors include population demographics, income distribution, social mobility, and attitudes to work and leisure
- Natural Environment:
- E-businesses have a low environmental impact compared to traditional businesses
- Examples include reduced need for physical infrastructure and the rise of 3D printing
- Technological Environment:
- Technological advances like IoT, AI, and 3D printing create new market opportunities
- Importance of standards like TCP/IP, HTTP, HTML, XML, and JavaScript
Internal Environment - Micro Environment
- Strengths and Weaknesses:
- Focus on creating a "strategic fit" by aligning internal competencies with external opportunities
- Micro-environment factors:
- Customers, suppliers, competitors, resellers, and marketing intermediaries
- Competence and Core Competencies:
- Combination of resources and capabilities
- Core competencies must be valuable, unique, hard to imitate, and applicable across products/markets
Strategic Thinking in E-Business
- Systematic Thinking:
- Holistic analysis of internal and external environments
- Creative Thinking:
- Developing novel solutions for competitive advantage
- Vision-Driven Thinking:
- Foreseeing future trends and focusing on customer needs
- Market-Oriented Thinking:
- Understanding and responding to market dynamics and competition
Critical Success Factors
- Technology:
- Importance of infrastructure, security, and continual updates
- Customers:
- Identifying and monitoring key segments and communication strategies
- Suppliers and Partners:
- The internet's impact on supply chains and business models
- Digital literacy and skills training
- Personnel:
- Use of global virtual teams
- Data, Information, and Knowledge:
- Handling large amounts of data to create valuable insights
- Management:
- Importance of data analysis models and setting and monitoring KPIs to track and evaluate strategy performance
Strategic Performance Assessment
- E-business-specific KPIs, such as app downloads
Strategy Formulation
- Conducting internal and external analysis to identify strengths, weaknesses, opportunities, and threats (SWOT analysis)
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Description
This quiz covers the external environment analysis in the context of e-business strategy, focusing on the macro environment, political and legal environments, economic factors, and globalization.
