internet ecommerce

Strategic Priorities in an Ecommerce World: Integrating Fundamentals With Revolutionary Ideas Dr. Barbara A. Ribbens Department of Management Western Illinois University Macomb, IL 61455 Phone: (309) 298-1159 BA-Ribbens@wiu.edu Greg Krajenta Automatic Data Processing Elk Grove, IL 60007 Phone: (847)718-3712 Greg_Krajenta@ds.adp.com Abstract We examine the integration of business fundamentals and ecommerce evolution that are required to formulate strategic plans in ecommerce situations. The recent fallout of ecommerce companies has caused managers and academics alike to consider what the essentials are of ecommerce strategies. We provide a framework of priorities for strategic formulation and manager‟s mindsets which will ground the strategic thinker in both sides of this debate, fundamental and revolutionary. Paper Recent ecommerce closures, buyouts, and bankruptcies have added fuel to the debate about whether in ecommerce business fundamentals are more important or whether an innovative vision will lead to business success. In fact, even the definition of success in this new era is open for debate. Traditionally success is defined in terms of profitability. However, Amazon.com, while it has yet to produce a profit, clearly dominates the ecommerce book retailing market, and has exhibited great growth. This paper will first briefly examine two examples of innovation which changed the way businesses manipulated information. Specifically, we determine how the debate between fundamentals and innovative vision evolved in these two situations. Then we examine each side of the fundamentals vs. innovative vision debate to clarify what is the real dichotomy underlying this debate. Finally, we build a framework of priorities for strategic formulation and discuss how manager‟s mental models should operate in this new era of business. Examining the past While the Internet is creating a new wave of ways to manipulate and transmit data, this is not the first innovation which has changed the way businesses think about data and about their relationships with other businesses and customers. While there have been many communication and computing breakthroughs, we examine two examples in particular, both of which reformed channels of communication for organizations, were also treated as radical when they developed: the telegraph and the mail-order catalog. Andrews and Nast (2000) compared how the telegraph was used to transmit data to how the Internet has initially been used by many businesses. There are many similarities between the telegraph and the Internet, such as the types of data transmitted and the explosive growth of the medium. Standage (1999) reported that the telegraph grew 600-fold in six years between 1846 and 1852. Just as the Internet did, the telegraph also generated much excitement and created opportunities for fraud and espionage. The speed of doing business was radically altered by the telegraph, especially for geographically dispersed organizations. The result was a rethinking of business to business relationships up and down the supply chain, as well as a facilitation of customer ordering and a speedier delivery of ordered items. Finally, just as with the Internet today, not all businesses that tried to capitalize on the telegraph succeeded. Similarly, when Sears conceived the idea of using a catalog to sell his overstock of watches in 1891, his idea of providing complete information to the customer without either personal contact or personally displaying his wares was extremely innovative. Using words and pictures to portray items, and then supplying quality goods that met the customer needs and expectations, was a business fundamental required to make the catalog succeed. The catalog reached further into rural areas than it had been worth sending salesmen. Thus, the market changed for Sears and Roebuck due to their ability to reach a new set of customers previously out of touch, thus revolutionarily rethinking the concept of target market and the reach of a retail organization beyond a storefront. Similarly, the world changed dramatically for those living in remote areas who now had access to items not previously available. As with the telegraph, not all organizations which tried catalogs succeeded. Organizations sprang up with only the catalog concept as their business plan, but included none of the remaining business plan necessary to make the venture succeed. Some organizations used catalogs to defraud customers by promising more than could be delivered and faded from the scene as their reputations spread. Because Sears effectively implemented their more comprehensive plan, in rural areas the Sears catalog became as important and as trusted as the Bible. However, in some ways the catalog was very different from the telegraph. While the telegraph allowed information to be exchanged, the catalog provided much deeper information, but the flow of information was all one way, from the seller to the customer. While the telegraph was effective for the bidirectional transmission of only numbers and words, the catalog, while a one-way transmission, because it had the ability to include pictures was able to provide a richer level of information. Despite these differences, each of these innovations spurred massive changes in the way organizations communicated, and substantially widened the repertoire of choices managers could utilize. In addition, not every business was able to capitalize on either of these mediums. Some businesses tried the innovation and failed while others succeeded. In both cases, due to abuses and a lack of a soundly implemented effective business plan, distrust crept in which mandated the need for cautious use of the medium, both by businesses and by the consumer. What can be gleaned from these past experiences with the catalog and the telegraph which can be applied to the Internet and ecommerce? Three principles emerge. First, no innovation is appropriate for all situations and in all times. Second, the business behind the innovation must remain strong and stable to support the innovation. Third, integrating the innovation into the core of the business creates the most successful and sustainable situation. It is also important to recognize that a descendant of the telegraph (telephone) and catalogs remain as viable business tools and indeed are key competitors to the newest communication revolution, the Internet. Examining the business fundamentals side of the debate Many authors decry the abandonment of business fundamentals which occurred in the late 1990's; it seemed that anyone with a good idea began an ecommerce venture. Porter (2001) suggested that the Internet is only one influence upon any business decision. He argued that traditional factors such as scale, process technology, and investments in assets remained key factors in developing competitive advantages. Using his traditional Five Forces, Porter (2001) decided that ecommerce simply alters competition by decreasing barriers to entry and increasing customer power. Thus, he concluded that strategic positioning remains fundamental, and is vital to success in the world of ecommerce. Andrews and Nast (2000) proposed a very basic set of steps to ecommerce success which mirrors traditional strategic analysis and includes items such as monitoring customer preferences and assessing risk versus reward. Lee and Whang (2001) suggested that matching the situation to the strategy chosen is key to ecommerce success; they defined the concept of situation in very traditional terms, such as the business environment and the characteristics of the products sold. Epstein (2000) recommended that structure, strategy and systems all need to be aligned before one can successfully implement ecommerce strategies. Further, Epstein (2000) prescribed integration of ecommerce strategies into existing business as the ideal, and suggested that distinct ecommerce segments should exist only when distinct segments are the only way to provide the speed and agility necessary to compete. Kupiec (2000) believed that traditional infrastructure is vital to operations of any type or the organization will not succeed. However, she did caution that measuring and monitoring the value and contribution of intellectual capital needs further refinement before we can accurately assess the assets for valid strategic decision making. Clearly, many companies venturing into Internet ecommerce agreed with these traditional viewpoints. Dugan (2000) cited a survey of companies which found that 61% of businesses surveyed see the Internet as a way to extend their current business rather than a way to revision their business. Only 14.3% of the businesses surveyed believed that their business was being fundamentally reshaped. This raises a pivotal question: are these companies correct in this assertion? Or, are many of these companies about to be outcompeted because they are sticking to old business models in a revolutionary time? Examining the revolutionary side of the debate Envisioning and innovating have been essential to riding the wave of ecommerce to success. Many ideas have been proposed to help managers instigate the ecommerce revolution within their own firms. Hodgetts, Luthans and Slocum (1999) described how ecommerce can change the way managers think about customer value, both in the creation and the delivery of value. Not only is speed and agility important, but reduced transaction costs mean organizations can connect to any entity connected to the Internet at any time for any type of communication with relative ease (Hodgetts, Luthans and Slocum,1999). To successfully harness this dramatic reduction in transaction cost and time, managers need new mental models which enhance their ability to think creatively and innovatively about their products and services. Jallat and Capek (2001) suggested that there must be an increased emphasis on the information value chain. Thus, they proposed that managers should carefully evaluate where their firm currently fits and where it could fit into the information value chain. Jim Kelly, CEO of UPS, described a world where electronic integration of the value chain increases value for all members by reducing transaction costs and time invested (Kelly, 2000). Thus, electronically integrating the organization system will translate every value chain into an information value chain. By looking for opportunities to become cybermediaries, Jallat and Capek (2001) suggested that firms can innovate by creating new industries or recreating old ones. Kelly (2000) also recommended finding niches in which the organization is really great at a few things that are tightly integrated into the activities in which other organizations excel. This requires trust and ongoing relationships that develop beyond contracts and handshakes. Cronin and Crawford (1999) claimed that ecommerce has changed the rules by increasing the likelihood of strategic surprise. This in turn requires managers to think more carefully about protecting their information assets and assessing the threats which exist in a high speed, high technology world. It seems therefore that there must be a revolution in manager‟s mental models as they consider the threats which exist in their environment and as they invest in asset protection, which now must include their knowledge and electronic assets as well as physical assets. Hodgetts, Luthans and Slocum (1999) argued that this emphasis on knowledge assets will redefine managers‟ roles and erode the traditional boundaries that have defined the relationships between individuals and organizations. Thus, the shift in emphasis may force a revolution in how managers view themselves, their roles, and their organization. Such a change in viewpoint will free managers to think outside of traditional managerial boxes and enable them to innovate more dramatically. Furthermore, the increased speed of information flow also means that not only must managers develop plans for protecting information and asssessing threats, but in addition the window of opportunity for successfully responding to and controlling damage from strategic surprise has been substantially shortened. In a speech, Nasser (2000), who at the time was the CEO of Ford, stated that the new economy is about using new technology to create new possibilities. He also framed this challenge as shifting from managing hard (physical) assets to intellectual assets. To meet this challenge, Ford has invested in upgrading all employees‟ computer abilities through a program for low cost computer and Internet access for every employee‟s home. Clearly, a manager in an ecommerce world must have a mindset oriented towards developing every bit of intellectual ability of each employee, and then integrating those abilities to create new capabilities in the wired workplace. Creating this goal toward using all employees‟ intellectual abilities reflects the Reformation, which changed the face of western civilization by making the Bible accessible to the common man. While the result was chaotic at times and fragmented, there is a powerful force which can develop when every person is equipped and encouraged to utilize information towards building their full potential. Of course, the paradox for ecommerce organizations is that the individual can use empowerment for their own good or for the organization‟s good. Therefore, commitment and goal alignment must be key managerial concerns as well. Schuette (2000) concluded that cultural issues will change the business model. First, because ecommerce is not always viewed as trustworthy by customers, there is a cultural barrier to doing some types of business online. Second, there is an internal cultural barrier in many organizations, because some employees are not comfortable with the highly technical aspects of ecommerce, yet are unwilling to yield control of business functions to newer employees. Third, there is a cultural barrier to other stakeholders‟ acceptance of ecommerce as a valid part of an enterprise. Schuette (2000) described the fear that partners involved in channels of supply or distribution often exhibit when ecommerce is mentioned because of the disintermediation that often takes place in ecommerce. Thus, valued channel partners may flee to competitors if they fear being cut out of the loop. Therefore, simply applying old business models where these fears did not play a part will not result in a successful transition to an ecommerce-oriented enterprise. Building trust is a key component of making a successful transition but requires adapting business models to break down each of these cultural barriers. Integrity in implementing these new business models is also crucial; Schuette (2000) stated that even minor violations of trust can chip away at reputation and undermine a successful ecommerce transition. Bingi, Mir and Khamalah (2000) examined the global implications of ecommerce and concluded that ecommerce is “altering the contours of space and time, reshaping the meaning of value, shifting power to consumers, and reinventing the nature of management” (p. 32). While these claims seem excessive, it seems that there is evidence for revolutionary change in what is being observed and felt by managers living through these times. However, what do these changes imply should be priorities for the formulation of strategy and the mental models of managers? Managers need an integrating framework. The need for an integrating framework Herman (2000) stated that ecommerce strategy is based on an integration of traditional strategy and forward thinking. He suggested six areas that must be covered to develop a complete ecommerce strategy: situation assessment (threats and opportunities), scope and scale of operations, customer interface initiatives, supply network initiatives, industry level initiatives, and administrative/internal initiatives. Further, Herman (2000) described another set of issues to be addressed which he labeled “architecture”; the goal of these issues is to determine strategic positioning. His issues are: What are the changes required for a true transformation? What are you optimizing for? How are people, processes and products/services going to change? What new interfaces are required? What holds the organization together? Long (2000a) believed that a key success factor in the new economy is strategic agility, which he defined as “a clear conception of strategic intent supplemented with an array of tactics that are constantly adjusted to remain true to that intent as you respond to the various changing circumstances in your environment.”(p. 39). Strategic agility must be an attribute of the mental models of managers rather than just an attribute of the organization, and strategic agility is clearly required to survive in a hypercompetitive environment. Long (2000b) also defined seven facets of strategic agility: a clear vision, knowing the clients, understanding core capabilities, selecting strategic targets, sharing responsibility, knowing competitors, and taking action. He proposed that these seven attributes strike a balance between stability and flexibility. Clearly, an integrating framework is needed. The framework should be based on the traditional fundamentals of strategic management, but also must explicitly include innovation, as Herman (2000) stated. Hodgetts, Luthans and Slocum (1999) identified three ways managers should be revolutionary in their thinking and actions. First, they suggested that managers must formulate and innovate strategies that move beyond current management thinking. Second, they recommended adopting radical technologies that threaten the status quo. Third, they described how to be more entrepreneurial in thinking and action. Furthermore, Long‟s concept of strategic agility is essential in order to work from the stability of the integrating framework to flexibly implement the strategic vision and respond to the changing environment within which that vision is being implemented. One framework, the three C‟s, has been defined. Goff (2000) reported that the success of Delia‟s is based on their integration of the three C‟s: community, content and commerce. Roth (1998) suggested expanding the three C‟s to a four C framework: content, commerce, customization, and community. Analysis of these themes as manifested in ecommerce activities suggest that many companies fall short of one or more C‟s in their web development, but that a full complement of C‟s leads to more successful ecommerce development. These themes rarely are examined beyond the “how to” level or provided as an example of how a company was able to succeed. What is needed is a deeper look at how these items all can be integrated together to create a theoretical framework for ecommerce strategy. Our ecommerce strategic priorities diamond After having reviewed the literature and struggled with how to teach students about the relationship of strategy formulation and ecommerce, a model for examining the priorities was developed. The model (Figure 1) demonstrates how the pieces interact to provide a focal point for managerial action and for priorities to integrate into managerial mental models. Each piece will be considered individually and then discussed in an integrated manner. Focus. The focus of strategy formulation must be on the mission and strategic goals of the firm, not on ecommerce. There are many examples of recently failed companies who made getting into ecommerce the goal, rather than using it as a tool to achieve strategic goals. Porter (2001) suggests that rather than following the basic rules of good strategic management, many companies have constrained their own success and the success of their created industries by haphazardly building a business. Many firms have tried to do it all and thus failed even in the areas of their strength. The basic tools of strategy still apply such as SWOT, Five Forces Analysis and General Environmental Trends Analysis; the results of these analysis provide the basis of business definition and strategic goal setting. However, the revolutionary side of focus suggests that managers think outside the traditional boxes while applying these tools. For example, a SWOT analysis is a great tool for assessing ways to enter ecommerce because it can point out strengths ecommerce can build upon, weaknesses that can be minimized through use of the Internet, and opportunities to be grasped with a Web presence. But full and thorough use of the SWOT mandates that managers think about not only what exists now, but what can be! Jallat and Capek (2001) argue that this perspective is vital as firms examine their opportunities to innovate within their current value chain and examine how they could fit into other value chains. Focus incorporates both content and commerce from the C‟s models. Having a clear focus answers the questions: What we will do? How can we do it? Who are we? Careful assessment of these questions and the organization‟s answers provides the framework for any business to build operations and support systems using any technological solutions. While speed is of the essence in many areas, it is not best to rush through the focus priority. It is also vital for focus to be regularly revisited as the business evolves and new SWOT assessments are done to capture the changing environment and internal innovation. As the speed of the environment increases, we submit that it becomes more urgent to regularly step back from the day to day managerial bustle and revisit the focus of the organization. Focus is the issue which sets the foundation for good choices for content and commerce. Flexibility. Melymuka (2000) reports that nearly 75% of the firms surveyed reported that their organizational structure slows decision making; the survey results suggest that traditional organizational structures and cultures are retarding organizational progress toward ecommerce. Why is this an ecommerce issue? Even traditional strategic management principles suggest the need for structure and strategy to be aligned and if decision making is retarded, it is time for a reengineering of the structure of the firm. Thus, in many ways this is a traditional strategic issue clothed with the new speed facilitated by the Internet and the urgency of illusory first mover advantages. The general concept of flexibility is commonly discussed in ecommerce literature, but what needs to be flexible? Structural flexibility is important because it allows greater cross functional interaction which leads to more creativity and innovation. Speed in adaptation and lower level learning is a result of having a structure which can shift and move with opportunities within the context of the strategic focus of the organization. Customization is another C often included in ecommerce business models; structural flexibility is the underlying concept which needs to exist to support customization and the internal interaction necessary for truly meeting customer‟s needs. Cultural flexibility is important because it enhances employees‟ willingness and ability to change, both their mental models and their tasks. Speed of higher order learning and the incorporation of this learning into the life of the organization is dependent upon cultural flexibility. Flexibility is a key piece of this model because of the importance it holds in manager‟s mental models of their organizations and indeed of themselves. While some many argue that flexibility is revolutionary in nature, it is clearly grounded in traditional strategic management thinking. Functionality. Accomplishing the goals set by a strategic focus is the foundation for most definitions of organizational success. Thus, functionality must be balanced with flexibility to maintain the traditional infrastructures necessary to accomplish organizational goals. The resource based view of the firm suggests managers look internally to determine key resources and structure the organization to maximize the benefits these resources contribute. Utilizing key resources develops core capabilities which are the building blocks for competitive advantage (Barney, 1991). This is the essence of functionality. Functionality also includes utilizing the intellectual capabilities resident in all employees by providing development opportunities and creative outlets for employee suggestions beyond the research and development department. The need for goal alignment and commitment to the organization must be fostered by managers so that the organization can share the benefits of employee intellect. True functionality means that an effective communication system exists which channels communication to those with the authority and resources to evaluate and champion ideas with potential. Particularly when those most comfortable with new technologies are those who are newer to the organization, it is important to provide a voice for these younger employees into the strategic management pipeline. Feedback. One of the advantages touted by ecommerce is the ability to create virtual communities. Three varieties of virtual communities are possible: business - customer, business - business, and intrabusiness. A virtual community provides for sharing of information and a sense of connectedness that personalizes the impersonal electronic transmissions (Biggs, 2000). Most emphasis in the literature has been focused on developing the technological tools to enhance community and provide effective open channels for dialogue. Biggs (2000) suggests that building community must be central to any successful ecommerce strategy. In a business - customer setting, virtual community can be used for advertising, attracting return customers, or providing a place for customers to connect with each other. In a business-business setting, virtual community can provide links within the value chain to facilitate ordering and open channels of communication about products, unmet needs or build relationships. An intrabusiness virtual community can provide employees ways to connect across the structure enhancing flexibility and provide real time support to employees in many situations. Looking back at the focus segment however, we must realize the ecommerce is not the strategy in itself, but rather facilitates the accomplishment of strategic goals. Thus while community may be a worthy goal as a tactic, strategically the importance of community lies in the feedback it provides to the organization. No matter how strong and cohesive a community an organization may construct, if there is not learning from the interaction in the form of feedback for future strategic development, there is no higher level learning in the firm. Thus, we argue that the development of infrastructure to process and evaluate the community as a form of feedback management is what is key to managers as it provides the information necessary for refining both the strategy and the tactics which lead to success. Feedback is a concept directly from traditional strategic management, but the methods for collection and analysis of feedback have lent it a revolutionary implementation. Integration. The four pieces of the model fit tightly together. All four pieces are priorities which managers must set in their strategic formulation to ground their strategy on traditional foundations but without restricting the innovation and creativity of the solutions. Keeping the focus clear and current sets the stage for the balance of flexibility and functionality. Feedback provides the information and energy for continual improvement and refinement of focus, flexibility and functionality. What is the center of the priorities diamond? It is the place where the manager‟s mental model must focus to stay balanced and keep the four priorities in harmony. Table One provides some practical questions managers should consider as they formulate strategy and determine the appropriate role of ecommerce within their strategic management plan of action. An interesting metaphor for this integrated harmony is a tennis player. The focus is on the goal of winning the game. Tactics are in the player‟s mind and tools are in the player‟s hands as he observe the opponent prepare to serve. The player‟s feet and legs combine functionality, a stable footing on the clay, and flexibility, by shifting weight around and staying on his toes, as he waits for the serve. Feedback occurs as soon as the ball is returned to help the player prepare for the next volley. In much the same way, manager‟s mental models must stay focused on the goal, balance the need for flexibility with the need for underlying functionality, and remain open to feedback. While this metaphor is true for all managers, as the ecommerce era has unfolded with increased speed, increased globalization, and increased competitive pressure, the mental and physical preparedness of the tennis player parallels the strategic agility required as a key attribute of managers and the organizations in which they manage. Conclusions Previous technological advances such as the telegraph, the catalog, and many more have created similar shifts in the culture and process of doing business. The scope of business has been allowed to grow larger as time and distance are minimized by each technological jump. Shifts have occurred in business communication with each era. The telegraph charged by the word, so business communication lost the flowery prose and politeness of letters and became staccato words that conveyed the essence. The catalog expanded communication into the visual and graphic realm even though it was unidirectional. Now the Internet expands the reach, the speed, and the medium at the same time it reduces transaction costs dramatically. Each technological shift has created niches for those who could capitalize upon them. Western Union capitalized on the fear factor for telegraphs by providing “secure” communication through a reliable network of trained employees. Printers and graphic artists have capitalized on the niche created by the catalog. There clearly are niches already claimed and others being developed by the Internet; a wise and focused incorporation of ecommerce tools into a firm‟s strategic plan can enable organizations to grasp these opportunities. It is important to remember that the internet evolved as an egalitarian, noncapitalist method of transmitting information. Consequently, the internet culture has intensely resisted shifting towards a market-driven capitalist method of compensating information providers for their efforts. Furthermore, the Internet is ruthless about garbage; genuine value is paid for but very low tolerance for fluff. Many customers will visit a page once, but accumulating return customers is key to ecommerce success. With the numerous choices available via the Internet, fluff or lack of background infrastructure to deliver will not hold up to the increased power of buyers. Does remaining true to traditional business techniques and principles mean that management must remain tied to old ways of functioning? Does starting a revolution mean that fundamental business principles are discarded? The answer to both of these questions is no. Clearly success will depend upon manager‟s abilities to integrate both traditional management concepts with revolutionary thinking and visionary creativity. The tools have not changed, but they are applied in novel ways and segments of the tools may need to be interpreted in new ways. For example, the online trading firm E*Trade can still be analyzed using Porter‟s Five Forces analysis. However, this analysis will point out that the bargaining power of suppliers has shifted from the traditional role of ongoing supplies that enter a value chain to largely initial role of key supplies existing primarily in the establishment of the information technology system necessary to run the system. Once the system has been established, suppliers are not needed assuming that E*Trade has its own system administrators who can modify and maintain the system as needed. Thus, the only supplier with ongoing bargaining power is the technological labor pool reducing the need for E*Trade managers to focus on supply chain management in the more traditional sense. As managers formulate and reformulate strategy, they must be agile and strong, remaining focused, balancing function and flexibility, and keeping their mental models open to feedback. It is imperative that managers do not discount feedback based on the source, but instead use virtual communities to verify and develop ideas which can be innovated in create value for the firm, their customers, and their other stakeholders. Figure One The ecommerce strategic priorities diamond Focus Flexibility Functionality Feedback Table One Practical questions to ground ecommerce decisions in the strategic priority diamond Focus Where is the organization? Where does the organization want to go? How is ecommerce an extension of current operations? What kind of ecommerce presence supports our established strategy? How do we add value to the customer? Our partners? Our organization? How are we positioned in our industry and the larger environment? What structural changes are required to maximize the impact of ecommerce? What cultural changes are required to maximize the impact of ecommerce? What limits our decision making speed now? What limits our decision making quality now? What are our organization‟s unique advantages? How can ecommerce make better use of our key resources? How can ecommerce make better use of our core competencies? What new capabilities will be required to establish and maintain ecommerce? What can the organization do better? How can a virtual community enhance our feedback from customers? How can a virtual community enhance our feedback from value chain partners? How can a virtual community enhance our feedback from other stakeholders? How can our feedback be analyzed and organized to maximize the benefits? Flexibility Functionality Feedback Bibliography Andrews, J.D. and Nast, A.G. 2000. The future is in the fundamentals. CA Magazine. 133 (8): 41-42. Barney, Jay, 1991. Firm Resources and Sustained Competitive Advantage, Journal of Management, v17n1: p.99-120. Biggs, M. 2000. E-commerce success requires commitment to building a proper customer „community‟, Infoworld, 14(4/3/00): 68. Bingi, P., Mir, A. and Khamalah, J. 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