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The corporate strategy refers to the means through which the organization’s management
has devised to meet the overall objectives for the business. This is the route through which
the organization will achieve the targets, both long term and short term that the management
has set. It is the obligation of top management to review the strategy every so often to
ensure that the organization is still on course to achieving its objectives which are in fact the
reasons for the firm’s existence.
The Information Technology (IT) strategy is part of the corporate strategy. As an organization
that is slowly embracing IT, management needs to take a keener interest on how IT can be
used to further the business objectives. In this sense, a lot of attention needs to be given to
this investment. For this reason, IT strategy needs to be devised and aligned with the major
corporate strategy so that the two work together for the benefit of the entire firm.
Kavungya answered the question on April 13, 2021 at 05:38
- Using as much of the foregoing information as you need, and inventing any additional minor details as appropriate, write a report to the Managing Director...(Solved)
With technology integration and the web’s high speed environment which forces constant
collaboration, an organization must react in real time to its strategic changes. This will only be
possible if it exploits new Internet technologies.
Successful e-companies share fundamental principles that have proved critical to their success
in the global marketplace.
You have been requested by the Managing Director of your organization to carry out a study of
business transformation on the Internet in order to identify several important factors common to
their success in the business world. Your report will be tabled at the next board meeting. You
obtain the following information from various sources through Internet.
• The most successful organizations are being pushed by their top management to exploit new Internet technologies.
• Understanding e-commerce is a key to success in today’s globalizing economy, where rules formulated in distant capitals have an increasing impact on cross-border trade and competition in home markets.
• Businesses have been swift in realizing the opportunities provided by the web and
have developed websites in order to advertise and sell products and services, promote
corporate images and; to provide information (especially public services).
• Advantages in using the web include a reduction in the cost of advertising, cheaper and
easier provision of information, the lack of a need to maintain a shop front, the ease of
crossing geographical boundaries and the absence of a middleman.
• The web’s high-speed environment forces tight cross-functional integration across al
the company’s business divisions and functions and will also force management to
acquire IT skills as well as business skills to lead such change.
• Businesses are using intranets for the internal display of company manuals covering
employment and other procedures; easily updated internal news and information
services, company catalogues; and project notice boards (to which project participants
can add information and comments to be seen by all).
• Intranets enable employers to talk with and challenge one another, share ideas and
create new knowledge fostering experimentation with new ideas, products and services
before they are launched.
• The network also extends to customers through the use of extranets for enhancing
customer relationships and managing its supply-chain.
• Companies can generate over 50% of their total revenue on-line with about 40% of unit
volume shipped directly to customers without the company ever touching the product.
• Putting the customer in the driver’s seat makes business sense, especially given the
one-to-one marketing focus that is becoming the hallmark of electronic commerce.
• Many companies, not only welcome you by name on their sites (if you have previously
purchased a product), but also remember your preferences and uses intelligent datamining
software to suggest related products and services.
• They make you feel at home on their sites, so much so that you don’t mind doing some
‘work’ for them such as order entry which saves their time and money.
• The Internet is uncharted territory and successful internet companies are continually
experimenting.
• While the market will be the final judge, the important lesson is that companies are
taking risks to become more efficient than they are now.
• The manager from an internet start-up advised, “in our organization, failing is acceptable,
failing to learn from failure is not acceptable.”
• Successful companies hire not only the best, but the right kind of people who accept
an environment of rapid change, aggressive growth, are optimistic and like to have fun
while working hard.
• Rewards in terms of very high on-line sales accounting for more than 50% of total sales
are driving most companies in the direction of e-commerce.
• The question ‘to be or not to be on the internet’ is no longer relevant – the real question
has become how to develop a successful Internet strategy.
• Organizations that do not make this transition will fail, they will become irrelevant, or
cease to exist.
• The use of Internet and the Web will continue to grow in importance for business as
new applications are exploited and the number of people able to access the internet
increases.
Required:
Using as much of the foregoing information as you need, and inventing any additional minor details as appropriate, write a report to the Managing Director which will be presented for discussion during the next board meeting.
Date posted: April 12, 2021. Answers (1)
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