Chapter 1 1. a. Explain the difference between a company’s business model and a company’s strategy. A company’s strategy is actually the plan through which the company aims at its growth, at gaining market shares, customers and its position in the market. Furthermore, the specification of a company’s strategy leads the company through being successful and competitive to achieve its objectives. The business model of a company determines if the followed strategy makes sense and if it leads to profits, which is the main objective of business activities.
In other words, enterprises provide products, support good, and services to the customers on the Internet. Amazon.com is a famous Internet retail company in E-commerce. Its business includes B2B and B2C. It opened its business in July 1996. Today, Amazon.com has expanded its business in more than two hundred and twenty countries and this company sells various products like electronics, books, music, DVD, House wares, PCs and cars (Amazon.com Announces 4th Quarter Profit 2002).
Originally, Amazon was an online book store that operated out of Mr. Bezos’ Bellevue, Washington home and ga... ... middle of paper ... ...Default.aspx Brandt, R. (2011, October 15). Birth of a Salesman. Retrieved from The Wall Street Journal: http://online.wsj.com/news/articles/SB10001424052970203914304576627102996831200 David, F. (2014). Strategic Management (14 ed.). Florence: PHI Learning.
They pulled out of large electronics items as customer experience was not up to the mark. Their logic was simple if they can’t offer customer a delightful experience they will not do it. Moreover, their online music store Flyte Music was shut down a little over a year after launching it. In the words Sachin Bansal, CEO of Flipkart - Flyte didn’t offer a potential for massive business. Statistics showed that Flipkart’s music CD section attracted only 1/6th of the traffic but its revenue was 3 times that of digital downloads (pay per download).
In my opinion, you have to look at three major areas to see if a company successfully manages their innovation; at the company level, customer level, and the impact the innovation had on society. From the company viewpoint, you have to look at how well management set the company up to be innovators in a given market. Did they choose an industry that would provide the company potential for continuous growth? How did they utilize their employee base and acquire a strong base of knowledge to continually come up with new ideas in the area of interest they are trying to enter? In addition once a product is developed did they manage their intellectual property in the in a manner which provided themselves maximum protection?
(Aaker, Kumar, & Day, 2001). Overall, market research provides a planned approach to achieving company goals and objectives. Understanding the differences in primary and secondary research when using qualitative and quantitative approaches will help any organization gain a better perspective of the various ways market research can be applied to meet company goals. Secondary Research It is important to assess the current situation prior to jumping straight into market research because it can be both timely and costly. The first step in market research is to use a cost-benefit analysis and decide if the cost of the research is worth more than the value of the data retrieved.
• The Flipkart was founded in 2007 by Sachin Bansal and Binny Bansal, both alumni of the Indian Institute of Technology Delhi. They had been working for Amazon.com previously. The business was formally incorporated as a company in October 2008 as Flipkart Online Services Pvt. Ltd. During its initial years, Flipkart focused only on books, and soon as it expanded, it started offering other products like electronic goods, Air Conditioners, Air coolers, stationery supplies and life style products and e-books. The first product sold by them was the book, Leaving Microsoft to Change the World, bought by VVK.Chandra from Andhra Pradesh.
First thing that comes to mind and want to look for is the pros of the company’s performance either they are doing well or poor. This will lead CS to give an idea if it’s the firm or the economy shift in the market in order to make the difference. To look at the company’s performance whether they are doing well so that they can do better than other competitors or they can duplicate them. CONS 1: There are some that we need to evaluate in depth, the company by looking at the company. It takes time and power to fully evaluate the company and to understand what to expect from them and what needs to happen on the marketing in order for the company is financial successful.
Today business is moving faster than it ever has before. With the Internet and e-commerce, even brick and mortar businesses are now open twenty-four hours a day and seven days a week. However, there are security threats that linger with this new age of business that need to be mitigated. According to a survey by the National Cyber Security Alliance (NCSA) and Symantec, a company that offers security solutions, seventy-seven percent of small businesses believe that they will not fall victim to security issues (Symantec, 2012). Even more alarming is that the survey found that eighty-three percent of these businesses did not have any form of security plan.
Today, there are more than two million businesses that utilize Amazon.com to sell to consumers, using the broad reach of the internet under the well-known name of this company. This company has since changed the way we conduct e-commerce, almost eliminating