He is an authority on information-intensive industries such as media and entertainment, retail, and financial services. Prior to re-joining the HBS faculty, he founded or co-founded businesses in digital strategy and advisory services, executive development, e-learning, and software simulation, while he served as a senior partner at Monitor Deloitte.
After reading you will understand the basics of this powerful problem solving tool. In addition to the physical market, the abstract market is becoming more and more important. To understand and get a grip of the interaction between these two markets, John Sviokla and Jeffrey Rayport created the Virtual Value Chain model.
What is the Virtual Value Chain? The virtual value chain begins with the information provided by the provider. Two separate value chains As both the market place that is physically present and the abstract market space virtual need to be managed in different ways to be effective and efficient, the value chain is separated into two chains.
Nonetheless this linkage between the two is crucial for an effective management value chain. Many businesses use Rayport and jaworski value chains such as banks that provide services to customers in the physical word at their branch offices and in the virtual world online services.
The Internet affects all primary activities within an organization. This may create new value for the customer.
Creating knowledge and adding value comprise five elements: These five elements enable organizations to generate new markets and build up new business relationships. The entire process turns raw data into valuable information.
Network management New technological developments in IT can lead to drastic changes in the ways organizations operate. In order to implement this properly, Mary Cronin distinguishes three important elements within the virtual value chain: Input from the supplier All information about and from the supplier will make an important contribution to value adding.
Internal operations Information about effective procurement is of inestimable value for a business. Global distribution of information saves costs. Management It is essential that managers understand the realization of value in both the physical and virtual market space within the Virtual Value Chain.
They will gain a clearer insight into their strategy by construing the differences between the values and by adding value to the interactions within the values. By being open to the interaction between the physical market and the abstract market space, managers are better able to integrate all valuable digital information as a result of which they can enhance their competitive position.
Do you recognize the practical explanation or do you have more suggestions? What are your success factors for the good digital activity management? Share your experience and knowledge in the comments box below.
If you liked this article, then please subscribe to our Free Newsletter for the latest posts on Management models and methods. More information Cronin, M. Doing more business on the Internet. The coming battle for customer information. The virtual supply chain: Business Information Review, 15 3 The truth about Internet business models.
Strategy and Business, "In Best Face Forward, Jeffrey F. Rayport and Bernard J. Jaworski argue that this unprecedented industrialization of front-office services - akin to what transpired in agriculture and manufacturing a century ago - is sparking a revolution in services that goes well beyond efficiencies gained by automation, off-shoring, and outsourcing.".
Rayport and Jaworski () identified what they classify as the 7 C’s of effective website design. These C’s include: Context, Content, Community, Customization, Communication, Connection, and Commerce.
The context is the actual layout and design of the .
Which of the following is included in the 7Cs framework for evaluating B2C web sites by Rayport and Jaworski? all of the above Which of the following companies uses the Web for both B2B and B2C? E-Commerce [Jeffrey F. Rayport, Bernard J.
Jaworski, Jeffrey Rayport] on rutadeltambor.com *FREE* shipping on qualifying offers. Once every decade a book comes along that becomes the standard in a field of study, the indispensable reference that every thoughtful practitioner must have on the shelf.
|A framework for the study of customer interface design for mobile commerce (2004)||The Analytics Revolution An analytics revolution is affecting organizations of all shapes and sizes.|
|Freely available||Dian zi shang wu gai lun by Lei Bo Te Book 2 editions published between and in Chinese and held by 44 WorldCat member libraries worldwide Dian zi shang wu by J. Leibote Book 1 edition published in in Chinese and held by 25 WorldCat member libraries worldwide Ben shu an zhao jue ce zhi ding lai zu zhi nei rong,Dui dian zi shang wu gai lun,Gou jian shi chang ji yu,Shang ye mo shi,Yong hu jie mian,Shi shi cao zuo deng jin xing xi tong de lun shu Best face forward:|
Like Samuelson in Economics. Like Samuelson in Economics, Drucker in Management, and Porter in Strategy, Rayport and Jaworski have written what leaders in the New Economy are calling the standard in e-commerce strategy formulation. >“Finally someone has put it all together! The test results proved that the checklist developed in this research can be an effective instrument for evaluating customer interface in B-to-C businesses.
Limitations of the study and possible directions for future research are also addressed in this report.