Develop a 150 to 200 word posting that responds to the following question: How might the value process frameworks help companies avoid faulty e-commerce strategies? What strategic insights might be gained from such models that may not be self-evident to business strategists within a given company? Provide an example in your posting.
The primary goal of the value process framework is to achieve a competitive advantage amongst rival companies through profitability. Companies must achieve this through by creating and capturing value. The complete value process framework is inclusive of three levels; value perceived by the customers, the cost of creating the value, and competitive discounts (Enders, König, Hungenberg, & Engelbertz, 2009). According to Ritchie (2000), the majority of e-commerce businesses fail because they had a faulty business model, lacked ...
The concept of the value process framework is not only a useful business model for traditional businesses but also for online businesses. This information provides relevant examples of the value process framework.