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Report on Concept of e-strategy and Its Importance

   

Added on  2020-06-04

13 Pages3995 Words49 Views
Leading E-Strategy

Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................31.1 Identifying the way technology transform industry..............................................................31.2 Advantages as well as disadvantages of first and late-mover e-strategy..............................41.3 Identifying the way to structure digital reinvention.............................................................6TASK 2............................................................................................................................................72.1 Apply E-strategy model at workplace...................................................................................72.2 strategic analysis of the external environment of the organisation......................................72.3 strategic analysis of the internal environment of the organisation.......................................82.4 developing the E-blue print for the organisation..................................................................9TASK 3............................................................................................................................................93.1 Understanding as well managing the relationship of organizational structure and e-strategy........................................................................................................................................93.2 Lead change initiative involved in the implementation of e-strategy................................10TASK 4..........................................................................................................................................104.1 Identifying the way to embed the new culture....................................................................104.2 Evaluating the E-strategy by utilising balance score card approach...................................114.3 Addressing strategic areas of concerns...............................................................................11Ethical concern :As issues of compliance and ethics become a focal point of businesses andpolicy development...................................................................................................................11CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12

INTRODUCTIONThe E- strategy framework allows a manager in an enterprise to identify, execute as wellas evaluate the plan in order to measure effectiveness. It also includes utilisation ofinformation,communication and resources in order to accomplish desired business objectives. Inpresent scenario, various development has taken place in a business environment. Among severalchanges one of the major development is advancement in technology. Earlier the technology wasused by an organisation only for operational or production purpose. But with the passage of time,nowadays technology is being used for the formulation as well as implementation of strategies.The purpose of the report is to develop the understanding about the concept of e-strategyand analyse its value as well as importance in an organisation. It also has focus on recognisingthe techniques or ways to structure digital reinvention. Study will also highlight the tools forconducting the strategic analysis of AIA Malaysia company.TASK 11.1 Identifying the way technology transform industryIn present scenario, banking sector relies on development of new business strategiesbased on networks. These strategies have been adopted by most of the banking institution astechnology assists banking institution in controlling the transaction and restricting the unethicalor illegal dealings.. The technology has changed the way business transaction were done.Technology has helped in bringing the positive as well as drastic improvement in businesspractices especially in banking sector has provided banking institution's a chance to provideadditional facilities to client. Technology is playing significant role in driving the economy bycreating unprecedented opportunities for industries. It helps an organisations in improving theirservices , increasing working efficiency and enable business entity to provide additional facilitiesto their client. Technology plays strategic role and supports an enterprise in increasing itssustainability in high competitive business environment. It also allows industries to increase itscompetitive strength as well as increase its competencies. Technology also provides industries anopportunity to differentiate itself from other sector by launching new product or services.Technology earlier was used only by the manufacturing industries for producing goods orservices. But with the passage of time this resource has been utilised by organisation for varietyof purpose such as for marketing , managing business , facilitating commercial transactions etc.

Technology has thus been seen as an essential ingredient of development strategies. Technologyhas given rise to e-commerce business which has further resulted into increase in competition. Ithas also enabled business entities to increase its productivity and promote its goods or services towide number of customers. It has also provides industries an opportunity to facilitate innovationand increase their profit margins. Technology has also provided firm an ease to identify theneeds of customer by collecting the data or information from internet and produce goods orservices accordingly. Digitization which has played a significant role in transforming theindustry (Kasasbeh, Harada & Noor, 2017)1.2 Advantages as well as disadvantages of first and late-mover e-strategy.First-mover is considered to be the important part of marketing strategy. First moveradvantage is considered to be as the benefit gained by initial important occupant of a marketsegment. Example of first mover advantage is the cost leadership, early purchase of resourcesetc. The fist step or action taken by an organisation enable business entity to gain competitiveadvantage by direct control of resource. Some first mover advantages are;Technological leadership : The major benefit of taking the first initiative is technologicalleadership. AIA Malaysia company can gain fist mover advantage by making the investment onconducting the research and development. As this strategy will assist business entity in keepingupdate itself about the latest trend in the market and advancement in technology. It will alsosupport an enterprise in identifying the needs as well as demands of customers in themarket .Firm should conduct research on technologies as implementation of new equipment orsubsystem can help an organisation in gaining the cost advantage. AIA Malaysia company byimplementing the appropriate technology at workplace can maintain its leadership position inthe market.Pre-emption of scarce assets : The another benefit gained by first mover is that an organisationhas information which it can use for making strategic decision related to the buying of resourcesor producing goods or services. First mover firm has the advantage of selecting the market aswell as capturing the attention of customers. Such enterprise can also establish positions ingeographic or product space.

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