The Changing Competitive environment
16 important questions on The Changing Competitive environment
What are virtual networks?
What is the value of a virtual network?
What is a tippy market?
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What is a tipping point?
How to recognize a tippy market?
- the presence and strenght of economies of scale; strong economies provide an advantage to larger firms
- the variety of the customer needs; customer demands variety creates niches that the dominant player may be unable to fulfill
What are two-sided networks?
Value of the network to one type of member depends on the number of members from the other side
What are the implications of network economics (For managers)?
Sponsoring a network provides competitive advantages
Steeper costs give more power to the sponsor
What are classic information goods?
Information goods are products that can be digitized
What are the economic characteristics of information goods?
- High production costs
- Negligible replication and distribution costs
- Information is not the carrier
- Costs are sunk; you cannot sell the information if nobody wants it
- No natural capacity limit; it can be download million times
- Not consumed by use
- Experienced goods; the products or services need to be tried before their quality can be assessed
What are the implications of information goods?
- Information is customizable
- Information is reuasable
- Information is often time-valued
- information goods can produce significant gross profit margins
What are information intensive goods?
What are implications of new technologies and the trade-off between richness and reach?
- Traditional business models continue to be questioned
- A direct relationship with the customer is an advantage
- Owning the customer interface may become critical (customer interface is the way the customers retrieves their information)
- The ability to maintain asymmetries of information declines (assymetry of information is the condition where one party to a transaction has more information than the other party: customers know now much more of a product than ever before, even more that the seller it self)
What are obstacles for the change?
- New technology must replace the characteristics of the old one;
- New technology entails costs; learning obstacles, swithcing costs and user inertia (the restiatance of humans to chance)
- Attention of people, because proliferation of information leas to scarcity of attention, which leads to slow adoption rates for all but the most revolutionary innovations (For example;online grocery shopping, the adoption rate is to slow to make the investment returns quick)
What is sustaining technology?
What are disruptive technologies?
- Offers a different set of attributes than the technology the firm currently uses in its products
- The peformance improvement rate is higher than the rate of improvement demanded by the market
What to do with disruptive technologies?
- Estimate whether the technolgy catch up the market needs; when is the new technology good enough for customers to buy it? At which performance?
- Listen carefully to the most agressive customers, who whill appreciate the attributes of the disruptive technology
- Spin of a new division to focus on competing with disruptive technologies
The question on the page originate from the summary of the following study material:
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding
