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E-commerce > #2: Planning the Electronic Commerce Initiative > Flashcards

#2: Planning the Electronic Commerce Initiative Flashcards

1
Q

Successful business plans includes

A

Identifying Initiative’s specific objectives
Link those objectives to business strategies
Manage implementation of business strategies
Oversee the continuing operations of initiative after it is launched

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2
Q

Posivitive outcome of successful business plan

A

Competitive advantage
market expansion
improved customer experience
cost efficiency
enhanced brand visibility
Increased revenue

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3
Q

Identifying Objectives

A

Increasing sales in existing markets
opening new markets
serving existing customers better
identifying new vendors
coordinate more efficiently with existing vendors
recruiting employees more effectively

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4
Q

Linking Objective to Business Strategies

A

downstream
Upstream

specific objectives for benefits and incurred cost

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5
Q

downstream strategies

A

improve the value that the business provides to its customers

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6
Q

upstream strategies

A

reducing costs or generating value by working with suppliers or inbound logistics

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7
Q

Measuring Benefit Objectives

HERB PII

A

Build Brands
Enhance existing marketing
Improve Customer Services
Reduce cost of after-sale support
Improve Supply chain operation
Hold auctions
Provide portals and virtual communities

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8
Q

Measuring Benefit Objectives: Build Brands

A

Surveys to measure brand awareness

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9
Q

Measuring Benefit Objectives: Enhance existing marketing

A

Change in per unit sales volume

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10
Q

Measuring Benefit Objectives:Customer Services

A

Customer satisfaction survey, no.of complaints

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11
Q

Measuring Benefit Objectives: Reduce cost of after-sale support

A

quantity and type of support activities

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12
Q

Measuring Benefit Objectives: Improve Supply chain operation

A

Cost quality and on-time delivery of materials or services purchased

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13
Q

Measuring Benefit Objectives: Holding Auctions

A

Quantity of auctions, bidders, sellers, items sold, registered participants, dollar volume of items sold

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14
Q

Measuring Benefit Objectives: Provide portals and virtual communities

A

Number of visitors, return visits, duration of average visit

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15
Q

Measuring Cost Objectives

A

project budget must include the cost of hiring, training, and personnel

80% of that cost was labor related
10% was the cost of software
10% was the cost of hardware

minimum dollar amount needed to open an entry level electronic commerce Web site at $150,000

cost for a large company to build and implement an adequate entry-level electronic commerce site was about $1 million

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16
Q

Comparing Benefits to Costs

A

if benefit exceed costs

evaluate their ecommerce strategies

return on investment (ROI) to evaluate capital investment

17
Q

Evolution of web site functions

A

Static brochures-> transaction processing-> full range of automated business processes

18
Q

Internal Development vs. Outsourcing

A

The Internal Team
Early Outsourcing
Late Outsourcing
Partial Outsourcing

19
Q

The Internal Team

A

Business knowledge and creativity>technical expertise

website development, product management, customer support, sales

Customer satisfaction, number of sales leads generated, and reductions in order-processing time as measurement of success

20
Q

Early Outsourcing

A

outsource initial site design and development to launch the project quickly

trains the company’s employees in the new technology before handing the operation of the site over to them

Benefit: faster development, access to skills, scalabiility
Drawbacks: communication challenge, loss of control, higher cost

21
Q

Late Outsourcing

A

company does the initial design, development, implementation, and operates the system until it becomes stable

After the company has gained all the competitive advantages provided by the system, the maintenance of the system outsourced.

Benefits: Maintain control, cost effective, targeted outsourcing
Drawbacks: Integration challenge, loss of knowledge, slower adaptation

22
Q

Partial Outsourcing

A

specific portions of the project that can be completely designed, developed, implemented, and operated by another firm that specializes in that particular function

Eg. email, electronic payment system, web hosting

23
Q

Selecting a Hosting Service

A

smaller projects: consult an ISP directory, such as ‘The List’.

larger Web sites: consult other firms that rate ISPs and CSPs, such as ‘Keynote Systems’

24
Q

factors to evaluate when selecting a hosting service

A

Functionality
Reliability
Bandwidth and server scalability
Security
Backup and disaster recovery
Cost

25
Q

Incubators companies

A

Big company invest capital and knowledge in small company

offers start-up companies a physical location with offices, accounting and legal assistance, computers, and Internet connections

at a very low monthly cost

offer seed money, management advice, and marketing assistance

In exchange, they receive an ownership interest in the company

26
Q

Benefits of incubators

A

Reduced cost
Valuable guiadance
Network building
Flexibility on outsourcing

27
Q

Fast venturing

A

an venture sponsor that wants to launch an initiative joins external equity partners and operational partners to scale up the project rapidly.

equity partners=banks or venture capitalists

Operational partners= firms that have experience in moving projects along

28
Q

Fast venturing: Venture sponsor

A

develops idea
staffs internal team
create prototype
provides most of start up funds

29
Q

Fast venturing: Equity Partners

A

review and refine ideas
provide advice
evaluate prototype
Provide contracts (including operational partners)

30
Q

Fast venturing: Operational Partners

A

turn ideas into a business plans
provides financial, technical, and operations expertise
provides industry best practices knowledge
scale up prototype to an operating model

31
Q

Fast venturing benefits

A

Faster Launch
Focus on innovation
Data driven decision
reduced risk

32
Q

Project Management

A

techniques for planning and controlling the activities undertaken to achieve a specific goal.

project plan includes criteria for cost, schedule, and performance

specific application software to help them manage projects

manage the tasks assigned to consultants, technology partners, and outsourced service providers

33
Q

Project Portfolio Management

A

monitored like an investment in a financial portfolio

ranks importance, strategic risks, returns

align projects to company goals

34
Q

Staffing the Operation

A

Application specialists
Business management
Customer service staff
Database administration

Network operations staff
Systems administration

35
Q

Post Implementation Audits

A

formal review after it is up and running

examine objectives, performance specifications, cost estimate, duedates and compare to what actually happened

make informed decisions on next actions

36
Q

Post implementation Audits key aspects

A

Assessment of Objectives
Scope and quality
Timeline and budgets
Stakeholder satisfaction
Risk managements
Lessons learnt

E-commerce (6 decks)

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