Details: Senior management is intrigued with the possibility of an increase in business and customer interaction from an upgraded website, but is still a little hesitant to make any major changes. You feel strongly that while there are some risks, it's essential for T&F to fully commit to e-business.
You gather your IT team and pose the following question: What are the factors which lead to success or failure in adapting to today's networked economy? You and your team decide the best approach is to compare two companies, from the same industry, which have differing experiences.
Your study should identify the two companies and should tell which is more transformed and how it is transformed. Then, your study should describe a.) the differences in strategies between the two companies, b.) the transforming process of each of the companies, c.) the potential opportunities and risks of each of the two companies, and d.) the effects associated with the different strategies the two companies are using.
The companies selected are Netflix and Blockbusters
Please provide all references:© BrainMass Inc. brainmass.com June 3, 2020, 9:40 pm ad1c9bdddf
The response addresses the queries posted in 2268 words with references.
//Before discussing the other requirements of the paper, it is necessary to explain the situation of the company. This will help you to develop a better understanding of the paper. The companies selected for the paper are Netflix and Blockbuster. To analyze the success and failures, it is important to understand the situation of the company. \
This study describes a situation of the company T & F in which it is considering e-business. Senior management of company is intrigued with the possibility of an increase in business and customer interaction from an upgraded website, but is still a little hesitant to make any major changes. Company gathers their IT team to find out the solutions of their problem, which they are facing in adapting the today's networked economy.
// After discussing the situation of the company, the following section will discuss about the factors that lead to the success or failure in adapting to today's networked economy. It will also explain about the challenges that the company has to face in the business world. \
The success or failure of any business is determined by how well it adapt to the new electronic business model. The emergence of e-business in any business will lead to the transformation of technology and products, less-predictable customer demand, reduced product life cycles, and price simplicity. To meet all these challenges, a business must improve its operational competence and build planned partnerships and alliances.
The practice by which a company outfits these changes and acquires e-business competence is known as a digital transformation. Digital transformation includes the alteration of all information-text, descriptions, audio, and video-into digital formats that can be exchanged, stored, and indexed. Digital transformation also means reflective changes in the very configuration of business operations. Following are the factors which lead to the success in adopting the Networked Economy:
? Time to market
? Customer Retention
? Embracing Technology
? Operational Efficiency
These are the factors which will define the chances for survival, and customers will control the value chain for just about every product and service (DeMark & Harcourt, 2008).
An important characteristic of the Global Networked Economy is that there is not often any strong motivation for the user to surmount barriers in using a particular website or other online service. There is usually an abundance of choices. If the customer faces an obstacle, he or she is likely to "move on" rather than stick with, even when the obstacle is one that the website or service owner regards as unimportant.
Common causes of failure are as follows:
? The website design assumes a level of Internet performance superior than that available to target users.
? Content is made accessible in "current versions" of applications but the end user has earlier versions with inadequate backward compatibility.
? Inappropriate assumptions are made about target users' technical competence, application experience, or access to applications Companies must integrate their value-added partners and suppliers into an e-business system to fully realize the benefits of speed and efficiency (Telework: Interoperability Guidelines, 1997).
//After discussing about the success and failure factors of the company, this section describes about the two companies selected for the paper. It explains the important strategies used by the companies to strengthen their business. \
To elaborate this study, two companies are identified which are Netflix & Blockbuster. The company Netflix is more transformed than Blockbuster. Netflix has transformed itself by offering online movie rentals to its customers. It had become a number one online movie rental side because of its good service and price. Customer's ...
The response addresses the queries posted in 2035 Words, APA References.