Address each of the following steps that will assist you in analyzing your business' readiness for an e-business venture and aid you in developing an e-business plan. (There is no set style requirement for the plan.)
A. Describe your business:
1. What is the name of your business?
2. What is the nature of your business? Product? Service?
3. How long has your business been in operation?
B. Analyze and self-diagnose your business' readiness for e-business:
Are you in the innovator or market leader category. If most of your answers are yes, you are in the early adopter or visionary category. Which category are you in?
2. Examine your business' ability to reverse the value chain.
3. Choose a narrow focus.
C. Develop a plan for your e-business by addressing the key elements of an e-business case and business case checklist.
? How do you plan to be brand intensive rather than capital intensive?
? How do you plan to meld voice, data, and video?
? How do you plan to use innovative business designs to deliver value?
? How do you plan to meet the customer's needs?
Electronic Business is generally referred to as E-Business and has been described as the business transactions and processes that rely on mechanized information system (Peter & Donnelly, 2002). E-business refers to the effective employment of the information and communication technologies for supporting almost every activity related to the business (Côté, Vézina & Sabourin, 2005). In today's business world, web-based technologies are used for this purpose. In order to satisfy the needs and expectations of the customers and to work more closely with suppliers and partners, various methods of e-business are used by the companies that help in linking their internal as well as external data processing systems more flexibly and efficiently (Wheelen & Hunger, 2004).
These applications have permitted the enterprise in deriving value for the business (Peter & Donnelly, 2002). These values are derived through the generation of new sources of revenue, reduction in the costs of conducting business, developing innovative web-based products, building loyalty among the customer and retaining them, attracting new customer prospects and building fresh markets & channels (Kotler, 2002).
E-business applications take numerous forms. The example includes, distance learning data conferencing, digital information services, autotype, intranets, voice mail systems, teleconferencing and videoconferencing etc. (Côté, Vézina & Sabourin, 2005). Apart from this, e- business may acquire the form of different applications which deals with the marketing, procurement, manufacturing, logistics, financial, human resources provider and integration applications of vendor and also comprises of the huge number of other applications (Peter & Donnelly, 2002).
Description of My Business
The product that is significantly dealt by marketers in the present time is Baby Food as this product is gaining a lot of significance. I am the owner of a company in which we make the food for the babies of new infants only. The name of my company is 'Homemade Baby Food'. The nature of my business is related to the health and food services (Homemade Baby, 2008). The baby's food is particularly given to the infants of a particular age between five months to three years. My company produces this baby food in the multiple varieties and tastes. This food is produced in various forms such as soft food, liquid paste, chewing food, ready to feed, frozen form, etc. (Homemade Baby, 2008). In order to make healthy to the babies and infants, we serve the customers with fresh food (Homemade Baby, 2008).
In the ingredients of the baby food, no salt should be added as it is harmful for the kidneys of the babies. All the babies' foods have the ingredients like extract of the cereals specially rice and juice of vegetables and fruits. We also provide flavored food for the babies, so that they can enjoy their food and live a healthy life such as banana flavored food, apple flavored food, wheat flavored food, rice flavored food, mixed fruits flavored, etc. (Homemade Baby®, America's Freshest Certified Organic Baby Food, ...
The solution analyzes readiness for an e-business venture. A plan is developed.