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2020 | OriginalPaper | Chapter

1. Key Terminology and Evolution of e-Business

Authors : Tawfik Jelassi, Francisco J. Martínez-López

Published in: Strategies for e-Business

Publisher: Springer International Publishing

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Abstract

The purpose of this chapter is to set the stage for the remainder of the book. To create a clear and shared view of what this domain entails, this chapter introduces definitions of e-business-related terms and concepts as well as some strategy-specific perspectives. The concept of strategy and recognizing the different levels of strategy development is defined. This chapter also develops a framework that describes the typical stages of technological revolutions and positions the evolution of electronic business within this framework.

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next chapter Overview of the e-Business Strategy Framework
Footnotes
1
For definitions and distinctions between e-business and e-commerce, see Bartels (2016).
For distinctions between e-commerce and m-commerce, see Surbhi (2015).
 
2
For more details see Chou (2018).
 
3
For more details see Zeng (2018).
 
4
Please see Johnson et al. (2005), p. 10.
 
5
Please see Chandler (1962), p. 13.
 
6
Please see Henderson (1989), p. 141.
 
7
Please see Porter (2001), p. 72.
 
8
Researchers of strategy engage in heated debate about what strategy entails. Most notably, there are two different schools of strategy. The “design view” of strategy considers strategy as characterized by deliberate planning and objective setting. The “experience view” suggests that strategies develop in an adaptive fashion and depend to a large extent on existing strategies. See also Johnson et al. (2005). The frameworks and concepts proposed in this book focus on the design view of strategy.
 
9
For a detailed discussion of different levels of strategy, see Johnson et al. (2005).
 
10
Ibid. pp. 90–137.
 
11
Note that as one technology reaches maturity, the next technological revolution is about to emerge. As a result, there can be considerable overlap between two technology surges.
 
12
The NASDAQ is the main US-based stock exchange for technology companies.
 
13
7 Amazon.​com was the first firm to add the suffix “.com” to the end of its name, thereby establishing the expression “dotcom,” which refers to all types of Internet ventures.
 
14
The p/e ratio of a company’s stock is calculated by dividing its stock price by its earnings per share. For example, if a company made $5 per share in the past year and the share sells for $50, then the p/e ratio for this share is 10. In general, a high p/e suggests that investors are expecting higher earnings growth in the future compared to companies with a lower p/e.
 
15
France Telecom closed this service in 2012.
 
16
J. Cassidy provides a detailed account of the exuberance and hysteria during the Internet boom years in Dot.con, Perennial, New York, 2003, pp. 2–5.
 
17
Ibid. p. 5.
 
18
For an excellent discussion of the flawed thinking during the boom years of the Internet, refer to Porter (2001), pp. 63–78.
 
19
Please see Willoughby (2000), p. 29.
 
20
See also Mullaney and Green (2003).
 
21
RSS is a type of web feed which allows users and applications to access updates to online content in a standardized, computer-readable format. AJAX stands for Asynchronous JavaScript and XML. It is a technique for creating better, faster, and more interactive web applications.
 
22
See Anderson (2008).
 
23
This section is based on Pavic, S. (2011). The creation of competitive advantage in SMEs through e-business, Unpublished doctoral dissertation, University of Sheffield, Sheffield.
 
Literature
Anderson, C. (2008). The long tail: Why the future of business is selling less of more. New York: Hyperion.
Campbell, P., & Waldmeier, P. (2018, November 11). Ford open to working with foreign rivals on driverless cars. Financial Times.
Cassidy, J. (2003). Dot.con. Perennial, New York, p. 148.
Chandler, A. (1962). Strategy and structure in the history of the American industrial enterprise. Cambridge, MA: MIT Press.
Henderson, B. (1989, November–December). The origin of strategy. Harvard Business Review.
Hook, L., & Nicolaou, A. (2018, January 22). Amazon debuts the store without a checkout. Financial Times.
Jelassi, T., Enders, A., & Martínez-López, F. J. (2014). Strategies for e-business: Creating value through electronic and mobile commerce: concepts and cases (p. 8). Pearson Education.
Johnson, G., Whittington, R., & Scholes, K. (2005). Exploring corporate strategy (7th ed.). New Jersey: Prentice Hall.
Lewandowski, D. (2018, April 17). Florius delivers an outstanding, online, omni-channel customer experience with help from Avaya and Dimension Data. Financial Times.
Liang, T. P., & Turban, E. (2011). Introduction to the special issue, social commerce: A research framework for social commerce. International Journal of Electronic Commerce, 16(2), 5–14.CrossRef
Meeker, M., & DePuy, C. (1996). The internet report. Harper Business.
Michaelidou, N., Siamagka, N. T., & Christodoulides, G. (2011). Usage, barriers and measurement of social media marketing: An exploratory investigation of small and medium B2B brands. Industrial Marketing Management, 40(7), 1153–1159.CrossRef
Mullaney, T., & Green, H. (2003, May 12). The e-Biz surprise. BusinessWeekOnline
Nicolaou, A., Fontanella-Khan, J., Samson, A., & Hook, L. (2017, June 16). Amazon agrees to buy whole foods for $13.7bn. Financial Times.
Pandya, M., Singh, H., Mittelstaedt, R., et al. (2002). On building corporate value (p. 8). New Jersey: Wiley.
Perez, C. (2002). Technological revolutions and financial capital: The dynamics of bubbles and golden ages. Northampton: Edward Elgar.CrossRef
Porter, M. (2001, March). Strategy and the Internet. Harvard Business Review.
Verhoef, P. C., Kannan, P. K., & Inman, J. J. (2015). From multi-channel retailing to omni-channel retailing: Introduction to the special issue on multi-channel retailing. Journal of Retailing, 91(2), 174–181.CrossRef
Willoughby, J. (2000, March 20). Burning up: Warning: Internet companies are running out of cash. Barron’s.
Zeng, M. (2018). Smart business. What Alibaba’s success reveals about the future of strategy. Boston: Harvard Business Review Press.
A detailed account of different levels of strategy can be found in G. Johnson, K. Scholes and R. Whittington, Exploring corporate strategy. 7th edition, Prentice Hall, 2005.
B. Arthur builds on the insights of C. Perez in the article ‘Is the information revolution dead?’, Business 2.0, 2002, March, pp. 65–73, where he suggests that the Internet economy is undergoing the same evolutionary phases as previous technological revolutions.
B. Henderson uses the metaphor of biological evolution to describe the essence of strategy in ‘The origin of strategy’, Harvard Business Review, 1989, November–December, pp. 139–143.
C. Perez. developed the five-stage model of technological revolutions presented in this chapter: see Technological Revolutions and Financial Capital: The Dynamics of Bubbles and Golden Ages, Edward Elgar, 2002. She draws heavily on the writings of twentieth-century economist J. Schumpeter. Among his important works rank the books Business Cycles, Porcupine Press, 1982 and Capitalism, Socialism and Democracy, Harper & Rank, 1975.
E. Malmsten (the co-founder of Boo.com), E. Portanger and C. Drazin provide an account of the rise and fall of the Internet fashion retailer Boo.com in their book Boo Hoo, Arrow Books, 2002.
For further analysis on social commerce and social layers of the internet, see T. Philbeck, N. Davis and A. M. Engtoft Larsen, ‘Values, Ethics and Innovation Rethinking Technological Development in the Fourth Industrial Revolution’, World Economic Forum White Paper, August, 2018.
For traditional businesses seeking to increase their e-Business, Sunil Gupta describes omni-channel strategy in Gupta, S. (2018). Driving digital strategy: A guide to reimagining your business. Boston: Harvard Business Review Press.
H. Mintzberg is one of the most prominent critics of the design or positioning school. For further reading, see Strategy Safari – A guided tour through the wilds of strategic management. Prentice Hall, 1998, pp. 114–118, which offers no less than ten different approaches to explaining strategy. His article ‘The design school: Reconsidering the basic premises of strategic management’. Strategic Management Journal, 1990, 11(3), 171–195, provides a more condensed criticism of the design school.
In ‘Profits and the Internet: Seven misconceptions’, Sloan Management Review, 2001, Summer, pp. 44–53, S. Rangan and R. Adner analyse why the promises of the Internet economy were not fulfilled.
In The long tail: Why the future of business is selling less of more. Hyperion, New York, 2006, C. Anderson illustrates how, by using the Internet, companies can capitalise on niche markets better to serve their customers.
J. Cassidy. takes a critical perspective of the development of the Internet economy in Dot.con, Perennial, New York, 2003.
Liang, T. P., & Turban, E. (2011). Introduction to the special issue, social commerce: A research framework for social commerce’, International Journal of Electronic Commerce, 16(2), p. 5–14.
M. Porter’s article ‘Strategy and the Internet’, Harvard Business Review, 2001, March, pp. 63–78, provides an excellent overview of the impact of the Internet on strategy formulation. His recent work updates this. See: Porter, M. and Heppelmann, J. (2014) How Smart, Connected Products Are Transforming Competition. Harvard Business Review. November. See also: Porter, M. and Heppelmann, J. (2015, October) How smart, connected products are transforming companies. Harvard Business Review.
Pavic, S. (2011). The creation of competitive advantage in SMEs through e-business, Unpublished doctoral dissertation, University of Sheffield, Sheffield.
Metadata
Title
Key Terminology and Evolution of e-Business
Authors
Tawfik Jelassi
Francisco J. Martínez-López
Copyright Year
2020
Publisher
Springer International Publishing
Book
Strategies for e-Business

Print ISBN: 978-3-030-48949-6

Electronic ISBN: 978-3-030-48950-2

Copyright Year: 2020

DOI
https://doi.org/10.1007/978-3-030-48950-2_1