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The Next Economy

The Next Economy. Jason C. H. Chen, Ph.D. Professor of MIS Gonzaga University Spokane, WA 99258, USA chen@jepson.gonzaga.edu. Price Place Product Promotion. Relationship Retrenchment Relevancy Reward. The Economies. OLD Economy (4P). Next Economy (4R). Information. MIS/IS/IT:

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The Next Economy

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  1. The Next Economy Jason C. H. Chen, Ph.D. Professor of MIS Gonzaga University Spokane, WA 99258, USA chen@jepson.gonzaga.edu

  2. Price Place Product Promotion Relationship Retrenchment Relevancy Reward The Economies OLD Economy (4P) Next Economy (4R) Information MIS/IS/IT: Internet/ Data mining/ CRM …

  3. Price Place Product Promotion Relationship Retrenchment Relevancy Reward The Economies OLD Economy New Economy Next Economy (4P’s) (4C’s) (4R’s) • Customer • Cost • Convenience • Communication Information Knowledge MIS/IS/IT/ICT: Internet/ Data mining/ CRM …

  4. Questions from Customers … Your customer asks: We are promoting our products, tell me … Solution … NEW Economy (1994-2000) How can INTERNET save (help) us? Post Economy (2001-2008) Where are our customers? How can we contact them?

  5. The Evolutions of Economy NEW Economy (1994-2000) OLD Economy Post Economy (2001-2008) Based on Information/ Internet Knowledge Product/Service Market share Time to market/ Site visitation Wallet share/ Profit Measurement of success Retaining customers/ Win service Focus Economies of Scale/ Efficiency Technology Improvement N

  6. Four Important Entities for a Successful Enterprise • Capital （资本） • Technical （技术） • Human （人才） • Information （信息）

  7. HW SW Organizational Ware Strategy Structure Organizational Ware Culture N

  8. structure/ culture competition Business landscape Internal/ External Consistent fulfill Analysis (Porter, SWOT) future positioning … Finance Management Process H/R Technology Corporate strategy • Positioning on product/market • Differentiation/choice of competitive advantage Business strategy • Competitive posture • Industry characteristics， • Market growth， • Demand characteristics， • Barrier of entry，etc. Functional strategy Essentials for a Successful Enterprise Value proposition 1. Business model 2. Core competencies Strategic intent Strategy Positioning 3. Execution (processes?) IT Role? N

  9. Major Issues for the Next Society 1. Internationalization 4I + 1K 2. Technology Internationalization Integration Innovation Information and Knowledge 3. Population

  10. Three Themes … Three themes are of interest/important to the business professionals: 1. Enterprise systems Software packages designed to provide complete integration of an organization’s business processing systems and all related data. 2. E-Business The application of electronic networks (including the Internet) to undertake business processes between organizations and either individuals or other organizations. 3. Information Technology It encompasses any hardware, software, or communication technology that might be adopted by an organization to support or control a business process, enable management decisions, or provide a competitive advantage. N

  11. NEW MARKET ENTRANTS SUBSTITUTE PRODUCTS & SERVICES TRADITIONAL COMPETITORS THE FIRM SUPPLIERS CUSTOMERS PORTER’S FIVE COMPETITIVE FORCES MODEL Threats Internal Forces 1.customer focus 2.communication 3.core competencies 4.complexity 5.quality Bargaining power N TM -11 Dr. Chen,The Trends of the Information Systems Technology

  12. Competitive Force Model Entry barriers Economies of scale Proprietary product differences Brand identity Switching cost Capital requirements Access to distribution Government policy Expected retaliation Rivalry Determinants Industry growth Brand identity Switching cost…. New entrants Threat of new entrants Industry competitors Intensity of rivalry Bargaining power of buyers Bargaining power of suppliers Suppliers Buyers Determinants of buyer power Bargaining LeveragePrice Sensitivity Buyer volume Brand identity Switching cost Product differences Buyer information Buyer profits …. Determinants of supplier power Importance of volume to supplier Presence of substitute inputs Switching cost ... Threat of substitutes Determinants of substitution threat Relative price/performance of substitutes Switching cost… Substitutes N (Source: Porter, 1980)

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