Clarity and Coherence ofwork - Evidence of wide research - Evidence of critically review andanalysed - Reference Bibliography Including In-text referencing -Writing style includes grammar and coherence - Format and structureIntroduction conclusion Table of contents title page - Use ofpublished materials & text book
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Table of Contents INTRODUCTION...........................................................................................................................3 Evaluate the key trends, advantages and disadvantage of business on the basis of GLObal environment............................................................................................................................4 Comparison between the different situation and SWOT analysis of an organisation............5 Examine emerging digital business models and challenges associated with information security threats and ethics in general......................................................................................8 Discuss importance of new collaborative relationships & strategic alliancesthrough digital technology for implementing personalisation........................................................................9 Compare and contrast digital business and e-commerce. What are the E-Commerce principles and discuss how they could be applied to digital businesses...............................................10 CONCLUSION.............................................................................................................................11 REFERNCES.................................................................................................................................12
INTRODUCTION In present context, business utilizing effective tool and techniques and most of organisation adapting virtual operating business functions with the help of internet. It considered as using social media platform in order to promoting products and services such as youtube, what’s app, andinstagram.Itinvolvesvariouskindofmethodswhicheffectivelyimplementingby organisationaswellasmostoforganisationfrequentlyusingdigitalmarketingwhich electronically expanding business operations and attracting to more customers. It involves analysed market condition and situation which result as targeting large customer base. The report about Brichbox which are situated in United Kingdom and they are dealing with customers through online mode(Sturgeon, 2019). It providing wide range of products and services to customers as well as offering various discounts for customer which results as increasing customerbase.Thepaperconsistisadvantagesanddisadvantagesofvirtualbusiness, importance of digital technology as well as analysed the internal and external environment with the help of Porter’s five forces and SWOT framework in order to effectively developing new strategies to achieving organisation goal and objective of company. Evaluate the key trends, advantages and disadvantage of business on the basis of GLObal environment. Globalenvironmentisprocesswhichreferstoincludevariousfactorswhich uncontrollable so it directly impact the business profitability and productivity of company. There are ample numbers changes which help to attain the organisation goal and objective of company. Manager of company developing new strategies in order to execute the business functions effectively and smooth running of business operations. Online business various benefits in order to effectively using various tools and techniques in order to promote the products and services (Merenheimo, 2017). In relevance of Birchbox, it is one of the leading cosmetic organisations which headquarters is situated in US. Organisation dealing in wide range of products and services in order to easily expanding their business operation in another country. There are amplenumbersofadvantagesanddisadvantageswhenorganisationadaptingeffective techniques so which are discussed below.
Key trends Increasing for reason of virtual work-: These are more important techniques which using by an organisation and it is most important trend which frequently using by an organisation after 2019. It includes these trends followed by employees at workplace which result as improve the performance of company(Li, 2020). Contract virtually-: These are the second emerging trend in order to organisation using effectively because it helps to establishing business virtually. It considered as employers hiring employee's through freelancers or contract basis which specific period of time. Advantages of managing virtual business Low costs-: These are the greater advantages for virtual or online business in order to carrying out business activity is low. When those business run their operating activities through internet so not incurred the other cost such as furniture, legislation, electricity and many others. Satisfied workforce-: When employee's work virtually so it more satisfying and retaining for longer period of time. It effectively perform their task in order to mangers motivating and encouraging towards the work. Disadvantages of virtual business Lack of communication-: Organisation work on the basis of virtually in order to they difficult flow of communication process because team are not available physically so on that basiscreatingconflictsbetweentheemployeeandemployers.Itessentialtomotivating employee's so must be communicate appropriately which helps to increasing team spirit between the employee's(Bughin, J., 2017). Risk on image-: These is one of the drawback for virtual business in order to higher risk which customers not easily trust the organisation and not loyal towards the organisation because they are not physically present at marketplace. Importance of technology and it impacts on businesses Organisationutilizingtheadvancedtechnologyinordertogainingcompetitive advantages which help to survive in the marketplace for longer period of time. It helps to beat the competition and achieving organisation goal and objectives of company. Improve communication-: When using proper technology so helps to effectively and efficiently adapting technology in order to reducing conflict between the employee's and establishing strong
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relationship. It includes using various social media such as what's app, Facebook, twitter and you tube. Impact- Helps to gaining competitive advantages-: It plays vital role in order to effectively using this trend so exploit new opportunities at marketplace and beat competitor easily.In relevance of organisation, it develops new strategies in order to effectively adapting internet. Enhancing profitability-: All these tools and techniques helps to improving effectiveness of organisationwhich resultasadaptingadvancedtechnologywhich leadsto increasing profitability and productivity of company(Kim, 2018). Therefore, it includes all the trends and tools which help to achieving the sales revenue and profitability. Comparison between the different situation and SWOT analysis of an organisation. In present context, It utilizing effective techniques in order to analysed the demands and supply of with the help of analytically conducting data. In today’s environment changing very first so essential to maintain positive relationship for the customers and retaining for longer period of time. Brichbox manger focusing formulated strategies in order to developing and marinatingstrongrelationshipwithcustomersforlongerperiodoftime.Onthatbasis organisation essential to analysed the external and internal environment which helps to grape the market opportunities effectively and accordingly planning for minimizing threat. There are ample numbers of tools and techniques which organisation utilizing effectively which result as analysed the market trend, customer taste and preferences(SAPUNENKO, 2016). Porter’s five forces model Thesemodelwhicheffectivelyutilizingbyorganisationtoexaminetheexternal environment, threat and competitors on that basis formulated future strategies. Bargaining power of supplier-: This element helps to find out the supplier power at market place. In relevance of organisation, bargaining power is high due to ample numbers of suppliers so easily negotiate the price of products and services. Bargaining power of buyer-: These plays vital role in order to examine buyer’s power which results as ample numbers of buyers so easily switch to another brand. In context of Brichbox, it bargaining power of buyers are moderate because they attracting large numbers of customers and ample numbers of competitors are available at market place.
Threat of new entrants-:In these organisations they are dealing in cosmetic segment which refers to threat of new entrant is low because they are attracting and targeting new customers at marketplace. In reference of company, they are easily entry of new organisation. Industry rivalry-: They are ample numbers of competitors are available at marketplace so rivalry among the existing firm is high. It includes Brichbox effectively using various methods to analyse the competitors strategies and accordingly implementing effectively(Al-Ali, 2020). Threat of substitute-: These are another factor of this model which refers to in cosmetics retail industry various kinds of substitute products are easily available in the market. In context of organisation, it refers to they are ample numbers of competitors are present at market so easily replacement of products. On that basis formulated new strategies by organisation in order to attracting large numbers of audience as well as investing huge amount in cosmetic products. Hence, it is effective tool which organisation implementing effectively in order to analysed the external and internal environment which result as providing strength due to easily beat competitors effectively. SWOT Analysis It is tools or framework which organisation effectively adapting because they know about the internal strength and weakness of company as well as examined the threats and opportunities are available at market place. On that basis formulated strategies and gaining competitive advantages. In relevance of organisation, it utilizing these methods in order to enhancing profitability and productivity of company(Merenheimo, 2017). Strength It is biggest strength of Brichbox is that attracting large numbers of customers inordertoutilizingeffective promotional tools such as whats’app, face book, twitter and instagram. It includes refers to utilizing advanced technologysoeasilygaining competitiveadvantagesaswellas achievingtheorganisationgoaland objective of company. Weaknesses Theyareusingeffectivetoolsand techniquessoitfacesproblem regarding the financial sources which result as difficult to expanding business operations(Bughin, J., 2017). Onthatbasistherearebiggest weaknessoforganisationthereare amplenumberscompetitorssothey accordingly preparing strategies.
Opportunities They are using advanced technology so itisopportunitytoattractinglarge numbers of customers. It refers to providing wide range of products and servicesso they easily expanding their business operation in another country(Li, 2020). Threats The biggest threat of an organisation they utilizing the more resources so it negative impact on environment which affectthebusinessfunctionsand operations. Due to COVID-19 organisation faces crises so it is developing threat for an organisationaswellasaffectthe profitabilityandproductivityof company. Therefore, it is process which effectively using SWOT framework which analyse the organisation ability and capability on that basis formulated strategies in order to gaining profitability and enhancing productivity of company. In relevance of organisation, it is stated that internal and external environment is essential process in order to focus the market situation and condition. Examine emerging digital business models and challenges associated with information security threats and ethics in general. Digital business models and studies are used to gain competitive advantage within a specific sector. It is important to focus on these models as they help in accomplishing goals as well as objectives in most efficient manner. In context ofBirchbox, they also used these digital business models on the basis of which they are able to target their customers and users in effective manner (Baxamusa, 2020).Through using of these models it is also easy to make decisions within process which are beneficial for achieving hair growth as well as development. There are various types of business model which are explained below- Opens source model- Open source model is a kind of a software development tool which is used by many enterprises who run their business digitally. it is most commonly used softwarewithhighlyconfigurationandfeaturesforcollaborationsharingofinformation publishing and transform and development. As a name suggest it is open for everyone but in
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many cases to access to more additional features of the software development many enterprises charge for or subscription amount. Advantages- Allow accessing-By use of this digital business model it is easier for chosen cooperation to use the software development process and implement strategies effectively. Simple & cost effective- Another benefit of using this model is that it is simple to understand by any individual as well as cost effective as compared to others payment model with charges higher fees(Dellermann, 2017). Disadvantages- Vulnerable to malicious user- As it is open source model which can be used by anyone it is difficult to maintain a security level in this development process because not everyone can have a good use of this software. Not user-friendly- Every organisation uses their own operating system and and devices on the basis of which they operate their business activities and operations. It might be possible that this open source software does not work on every device properly. Free model-It is also known as freemium model which is being considered as most popular in digital marketing field and is used at larger scale. It makes it easier for both users as well as enterprises to access free version of product or a service can use it for first time. After trial they have the alternative option whether to subscribe for more features or not. Advantages- Easy to use- Basic version of this model is very simple which increases potential ability of a corporation to use it for their work. Disadvantage- More beneficial for subscribed users- This free model is mostly beneficial for those who have been subscribed to it which allows him to access more features and it increases competition level for non-subscribers users. Challenges linked with information security threats and ethics are- Virus- Virus in computer field is bound to be occurring at any time. These are also considered as biggest threat in information security because they are defined as kind of a computer programs which modifies or changes themselves within a computer or files. In
context of selected enterprise, competitors can use search viruses to steal the information of a rivals(Lioukas, 2016). Unauthorized access-In this digital world and high end technology field many hackers are present within a society or a community who has capability to access in illegal way to information security and system. In reference of chosen entity, they should news a proper IT department and skilled employees so that it is easy for them to prevent from such problems. So, from above explained paragraph, it has been seen that digital business models and ready to be used which help in implementation of strategy and tactics which are beneficial for achieving goals. Moreover, information technology and security is an essential part of online business and organisations. It is necessary to determine threats or risk related to them so that problem or issue does not arise in future period of time. Discuss importance ofnew collaborative relationships & strategic alliancesthrough digital technology for implementing personalisation. In this competitive world, it has become essential for many organisations to use his strategic approach of getting collaborative relationship and strategic alliances on the basis of which it is easy for them to expand their business activities at larger scale. It is necessary for digital enterprises to enhance and increase their competency level in a market because certain situations can arise at any time which gives more importance to this collaborative relationships as well as strategic alliances. Collaborative relationship is defined as an agreement between two or more than two people or organisations on anagreed contract of sharing profit& risk to achieve desired goals. The sustainability period of collaborative relationship depends upon trust between these parties (Lioukas, 2016). Strategic alliances-Strategic alliance refers to contract between two companies or enterprises with purpose of achieving or completion of project.It is a critical process and procedure which took a deep level of market knowledge and critical thinking approach which is helpful for understanding others point of view so that it is easy to implement personalization. Importance- By developing an effective collaborative relationship, it is beneficial for Birchbox toincrease and enlarges their product portfolio as well as users base in more foreign countries.
Through adapting of strategic alliance it is easier for chosen enterprise to access to more new resources increase client base and competitive skills of employees. Furthermore both of these are beneficial for selected entity to increase their brand goodwill by merging up with other organisation. It is essential for them to conduct a proper internal analysis so that it is easier to examine these processes. In context of discussed paragraph, it has been also seen that throw using this two processes it is easy to implement personalization in business because clients as well as customers are targeted on a personal level which increases relation between both. Compare and contrast digital business and e-commerce. What are the E-Commerce principles and discuss how they could be applied to digital businesses E-commerce as well as digital business both is essentials which are needed to be considered to achieve competitive benefit and increase the survival period of business. BASISDigital businessE-commerce Meaning Digitalbusinessisdefinedas carrying out market activities using onlinesocialmediaandtools (Mandal, 2018). E-Commercerefersto purchasingandsellingof products as well as goods over the internet through websites. ObjectiveMain purpose of digital business is to implement market activities on social media or digital platforms. Main objective of e commerce is that to carry out the exchange processofsellinggoodsand productsinaprotectedand secured manner. Business plan & e -commerce principles- Be-aware of returns- This principle suggests that businesses which are running their operations and activities on internet should be aware and active about customers returns product and their date as well as time so that it is easy to track them. This is e-commerce principles can be applied to digital business of Birchbox as because through this weekend integrate and engage customers with their brand.
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Responsive e-shop- It is also to be considered as important principle of e-commerce in which it shows that it is necessary for enterprise to be responsive when operating digitally so that they are able toexamine and analyse customers need and wants, queries, issue of customers(Öven, 2020). Payment methods- It is an important principle which is needed to be focused an adopted in which various types of e wallets and payment modes required to be used by digital businesses so that it is easy for customer to make payments. Know target audience- In this principle of e-commerce it states that it is important to have an appropriate knowledge about targeted customer audience so that it is easier to make decisions within a marketplace. Knowing target audience is also helpful in using of resources in efficient manner(Remane, 2016). CONCLUSION After a brief analysis of above report, it has been concluded that this is and social media play importantrolein achievinggoalswithin a periodof time.Thisreport givesbrief information about how enterprises are going digital in market. So, discussions have been made about trends, advantage and disadvantage of virtual business, SWOT analysis and situational analysis, different digital business models. Moreover, collaborative relationships and strategic alliances, difference between digital business and ecommerce has been briefly explained. It has been evaluated that it is important to be aware about market so that strategies and tactics are implemented efficiently.
REFERNCES Books and Journals Sturgeon,T.J.,2019.Upgradingstrategiesforthedigital economy.Global Strategy Journal. Merenheimo, A., 2017. Enterprise Architecture in Digital Business' Strategy Making. Li, F., 2020. The digital transformation of business models in the creativeindustries:Aholisticframeworkandemerging trends.Technovation,92, p.102012. Bughin, J., 2017. The best response to digital disruption.MIT Sloan management review,58(4). Kim,J.,2018.Marketentrystrategyforadigitalplatform provider.Baltic Journal of Management. SAPUNENKO, G., 2016. Internship report on the creation and implementation of a digital business strategy in a coworking and event space. Al-Ali, A., 2020.Digital Strategy Formulation: An Investigation withDesignSprintsandDeepLearning(Doctoral dissertation, University of Cambridge). Baxamusa, 2020. Does policy uncertainty increase relational risks? Evidence from strategic alliances.Financial Management. Dellermann, 2017. Innovation risk in digital business models: the German energy sector.Journal of Business Strategy. Lioukas, 2016. Effects of information technology capabilities on strategicalliances:Implicationsfortheresource‐based view.Journal of Management Studies,53(2), pp.161-183. Mandal, 2018.Exploring the importance of collaborative assets to hospital-supplierintegrationinhealthcaresupply chains.International Journal of Production Research,56(7), pp.2666-2683. Öven, Covid-19, 2020: How does it affect international e-commerce firms?. Remane,2016,June.DiscoveringNewDigitalBusinessModel Types-a Study of Technology Startups from the Mobility Sector.InPACIS(p. 289). Tolstoy, 2020. The development of international e-commerce in
retail SMEs: An effectuation perspective.Journal of World Business, p.101165. Xu,2019.Digitalbusinessmodeleffectuation:Anagile approach.Computers in Human Behavior,95, pp.307-314.