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Information Management Lecture Notes Summary
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- Tilburg University (UVT)
Full summary lecture notes IF covering everything for the exam
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LECTURE 1: Introduction to Information Management: Impact of the IT Revolution● E-commerce & Its Impact on Business:
E-commerce refers to the utilization of Information Technology (IT) in conducting business transactions.
It encompasses various digital channels such as the Internet, mobile applications, and web browsers to facilitate
commercial transactions.
Types of e-commerce include:
- Business-to-Business (B2B)
- Business-to-Consumer (B2C)
- Consumer-to-Consumer (C2C)
- Mobile commerce
- Social commerce (enabled by social networks)
- Local commerce (targeting consumers based on their geographic location)
IT-enabled firms utilize Information Technology to:
- Reach customers
- Produce goods and services
- Procure materials
- Recruit personnel
There is a growing diversity of firms offering IT products and services.
These firms cater not only to IT-enabled businesses but also to a broader range of clients.
E-business involves the digitalization of transactions and internal processes within a firm.
It relies on information systems controlled by the organization.
Distinction from e-commerce:
- E-business does not necessarily involve commercial transactions across organizational boundaries.
- The firm's infrastructure supports online commerce exchanges.
- Applications within e-business transform into e-commerce when there is an exchange of value.
● 8 different features of e-commerce technology:
1. Ubiquity: IT permeates every aspect of our lives, creating a marketspace that transcends traditional boundaries of
time and place. E-commerce platforms are accessible 24/7 from anywhere in the world, reducing transaction costs and
making transactions more convenient for users.
2. Global Reach: E-commerce enables commercial transactions to occur across cultural, regional, and national
boundaries. This broadens the potential customer base for businesses, allowing them to reach a larger audience globally.
3. Universal Standards: E-commerce relies on technical standards that are shared across nations. This standardization
lowers market entry costs and search costs for businesses and individuals, while also facilitating network
externalities—benefits that arise from widespread adoption of the technology.
4. Richness: Refers to the complexity and content of a message. E-commerce technologies enable more sophisticated
and interactive communication compared to traditional media. This richness allows businesses to tailor messages to
individual users and provide enhanced services.
5. Interactivity: E-commerce technologies facilitate two-way communication between merchants and customers.
Features like like and share buttons on social media platforms enable active engagement and interaction, fostering
customer engagement and loyalty.
6. Information Density: IT enables the collection, storage, and analysis of large volumes of data, known as big data.
E-commerce technology increases the quantity and quality of information available to all market participants, enabling
businesses to make more informed decisions and provide personalized experiences to users.
,7. Personalization & Customization: E-commerce platforms can offer personalized services and products to users.
Personalization involves targeting marketing messages based on individual interests or past purchases, while
customization involves tailoring products or services to meet the specific preferences or behavior of individual users.
8. Social Technology: E-commerce platforms leverage user-generated content and social networks to facilitate
communication and interaction among users. Users can create and share content with a global community, as well as
form and strengthen social networks through various forms of communication.
→ These features collectively contribute to the growth & evolution of e-commerce, shaping the way businesses operate
& interact with customers in the digital age.
● Theory on how Information Technology (IT) influences business processes & business performance:
→ E-Business Impact at the Firm Level:
- IT affects all stages of business processes, including purchasing, design, manufacturing, sales, & marketing.
- IT enables the integration and linkage of subsequent steps in the value chain, facilitating seamless coordination
and efficiency.
- It plays a crucial role in contracting between firms and connecting value chains, creating dynamic value systems
that enhance competitiveness and innovation.
→ E-Commerce Impact at the Industry Level: IT can influence each of Porter's Five Forces:
- Threat of New Entrants: IT can lower barriers to entry by reducing costs & increasing accessibility to markets.
- Determinants of Supplier Power: IT can enhance transparency & communication in supply chains, potentially
reducing supplier power.
- Rivalry Among Existing Firms: IT can enable firms to differentiate products & services, intensifying competition.
- Determinants of Buyer Power: IT can empower consumers with information & choices, affecting their bargaining
power.
- Threat of Substitute Products: IT can facilitate the emergence of new digital substitutes, altering industry
dynamics.
=> Overall, IT influences industry structure by shaping competitive forces, intermediation processes, and the
potential for disintermediation—the removal of intermediaries from a supply chain or process.
It drives changes in how industries operate, compete, and create value for customers.
This theory highlights the pervasive impact of IT on both firm-level processes & industry dynamics, emphasizing its role
in fostering innovation, efficiency, and competitiveness.
,Michael Porter introduced the concept of the value chain & value network as frameworks for analyzing the activities
within and across organizations that create value for customers. Let's delve into each of these concepts:
1. Value Chain:
The value chain is a framework that breaks down the activities of a business into primary and support activities,
highlighting how value is added at each stage of the production process. The primary activities directly contribute to the
creation, sale, and support of a product or service, while support activities provide the necessary infrastructure and
resources to enable primary activities to function effectively. Here are the components of the value chain:
→ Primary Activities:
- Inbound Logistics: This involves the receiving, warehousing, and distribution of inputs or raw materials.
- Operations: This refers to the production or transformation process where inputs are converted into finished
products.
- Outbound Logistics: These are the activities involved in distributing the finished products to customers.
- Marketing and Sales: This includes activities related to promoting and selling products or services to customers.
- Service: After-sales service activities such as installation, training, repair, and maintenance.
→ Support Activities:
- Firm Infrastructure: This includes activities such as general management, finance, planning, and quality
management that support the entire value chain.
- Human Resource Management: Activities related to recruiting, training, and development of employees.
- Technology Development: Research and development, technology acquisition, and innovation activities.
- Procurement: Sourcing, purchasing, and supplier management activities.
The value chain framework helps businesses identify areas of competitive advantage and inefficiency, enabling them to
optimize their operations and create superior value for customers.
2. Value Network:
The value network expands upon the concept of the value chain by considering the interconnected relationships and
collaborations between multiple firms and stakeholders involved in delivering a product or service to the end customer.
It emphasizes the importance of external linkages and partnerships in creating value. Here are the key aspects of the
value network:
- Interfirm Relationships: These are partnerships, alliances, and collaborations between firms in different stages of
the value chain, including suppliers, manufacturers, distributors, and service providers.
- Value Co-creation: Value is not created solely within individual firms but through interactions and exchanges
within the network. Customers and other stakeholders play active roles in co-creating value.
- Information Flows: Effective communication and information sharing between network participants are critical
for coordinating activities, managing relationships, and responding to market dynamics.
- Dynamic Nature: Value networks are dynamic and can evolve over time as market conditions change, new
technologies emerge, and new players enter the network.
The value network perspective helps businesses understand the broader ecosystem in which they operate and identify
opportunities for collaboration, innovation, and competitive advantage.
→ In summary, while the value chain focuses on internal activities within a single firm, the value network considers the
broader ecosystem of interconnected relationships and collaborations among multiple firms and stakeholders involved
in delivering value to customers. Both frameworks are valuable tools for analyzing and managing the value creation
process in a business context.
● Complicated Roles of IT as Business Enabler → early visions on e-commerce were too simple (& wrong)
1/ IT would lead to Friction-Free Commerce Assumption:
- Consumers were found to be less price-sensitive due to information overload → Information overload can result
in buyers not being able to know everything about products & markets, leading to asymmetry.
, - Price dispersion exists due to dynamic pricing strategies & local pricing variations.
- IT enhances transparency in markets and prices, but it also leads to information asymmetry between buyers and
sellers.
- Sellers use market transparency to implement dynamic pricing, which contradicts the idea of friction-free
commerce.
2/ IT would lead to Perfect Competition Assumption:
- However, information asymmetries between buyers & sellers persist
3/ IT would lead to Disintermediation Assumption:
- Many new Internet-based intermediary services emerged in sectors such as travel, finance, and retail.
- These intermediaries assist buyers in finding the best products and services, leading to re-intermediation rather
than disintermediation.
4/ IT would always provide a First Mover Advantage Assumption:
- However, fast-followers who adopt proven technologies often overtake first movers, challenging this
assumption.
● Academic Disciplines Concerned with E-commerce:
→ Technical Approaches:
- Management Science, Data Science, Information Systems
- Computer Science: concerned w the development of computer hardware, software, telecommunication
systems, standards, encryption, and database design and operation.
→ Behavioral Approaches:
- Economics, Marketing, Management, Finance/Accounting, Sociology
- Information Management: Information systems researchers are primarily interested in e-commerce due to its
implications for the firm, industry value chains, industry structure, corporate strategy, and online consumer
behavior.
These academic disciplines provide different perspectives on e-commerce, ranging from technical aspects to behavioral
and societal implications, reflecting the multidisciplinary nature of the field.
LECTURE 2: Business Model Innovation - CHP2
● E-commerce Business Models:
A business model is a set of planned activities designed to generate profit in a marketplace, leveraging the unique
qualities of IT, the Internet, and the Web.
→ It is distinct from a business strategy, business plan, or business case.
● 8 Key Elements of E-commerce Business Models:
1. Value Proposition:
- Defines how a company's product or service fulfills the needs of customers.
- Answers the question: "Why should the customer buy from you?"
2. Revenue Model:
- Describes how the firm will earn revenue, produce profits, & achieve a superior return on invested capital.
- Includes various revenue models such as:
● Advertising revenue model ("get money for clicks")
● Transaction fee revenue model ("get money per transaction")
● Subscription revenue model ("get money for subscriptions")
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