In this assignment we will discuss the question:
How is Digital Eco-system (DE) affecting competition among business when viewed through the Porter’s model of industry competition?
This assignment is based on our Module Management Information System.
An Information System can be defined as set of interrelated components that collect or retrieve, process, store, and distribute information to support decision making and control in an organization.
Management Information System, is managing and handling your organizational, management and technical frames through different processes concerning with Information System.
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Eugene Odom, a contemporary thinker on this subject, put it like this:
”Any unit that includes all of the organisms (i.e.: the “community”).
in a given area interacting with the physical environment so that a flow of energy leads to clearly defined tropic structure, biotic diversity, and material cycles (i.e.: exchange of materials between living and nonliving parts) within the system is an ecosystem.”
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Fig (2): Eco – System
A Digital Ecosystem is any distributed scalable network allowing data to flow freely between its nodes and allowing trusted interpreters to access edit or extrapolate value of the data.
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Fig (3): Digital Eco – System
The digital ecosystem initiative has two target groups:
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Fig (4): Digital Eco – System Targets and Vision
Porter’s Model Of Competitive Forces & Analysis And Evaluation of Digital Eco-System According To Competitive Model
Michael Porter’s Competitive Forces Model. This model provides general view of firm’s competitors and its environment in comprehensive manner. Here are five competitive forces that shape the fate of the firm:
Fig (5): Porter’s Model of Competitive Forces
Also, we will evaluate and analyze that how Digital Eco-System can make a difference in Industry Competition.
*1) Traditional Competitors*:
Analyzing & Evaluating Digital Eco – System :
2) New Market Entrants:
It’s a common practice that whenever there is an entry of new brand or store around us, we want to go there and test there products or services and if we like those then we try to use those regularly. So these new entrants are one more competition to already existing organizations in the industry.
Analyzing & Evaluating Digital Eco – System :
Analyzing Digital Ecosystem, today there are many virtual Organizations working online. Like Virtual University (VU) or University of Phoenix are providing online degree Courses to several Students around the Globe. So, they are in good competition with other Universities with the physical appearance.
3) Substitute Products and Services:
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Analyzing & Evaluating Digital Eco – System :
4) Customers:
Customers are very powerful. Organizations try to retain their customers. Because it is very easy for a customer to switch to competitors product when they are well educated regarding industry. So organization needs to be smart enough to create such competitive strategies so they can retain their customers. In transparent market, customers are aware of pricing, costs, quality and value of product or services.
Analyzing & Evaluating Digital Eco – System :
5) Suppliers:
Analyzing & Evaluating Digital Eco – System :
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Components Of Digital Eco-System
There are three Components of Digital Eco-System:
SOCIAL SCIENCE
COMPUTER SCIENCE
{draw:frame} NATURAL SCIENCE
Social Science:
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Computer Science:
Study of computers, their design and their uses for computation, data processing, and systems control, including design and development of computer hardware and software, and programming. The graph shows the Computer Science:
Natural Science:
The term natural science is also used to distinguish those fields that use the scientific method to study nature from the social sciences, which use the scientific method to study human behavior and society; from the formal sciences, such as mathematics and logic, which use a different methodology; and from the humanities.
Strengths& Weaknesses Of Digital Eco-System
Strength of Digital Eco – System:
Weaknesses of Digital Eco – System:
There are some weaknesses of Digital Eco – system that are, as this eco – system is actually a system of nodes, devices and wires and antennas connected with each other. There are few ricks involved in Digital Eco – System, like Environmental Risks and threats; Bad weather may distract the communications between two nodes. Different Viruses have been released in Net Market Place hacking web – sites. Lots of security measures are required. Excess of competition is becoming much tensed between industries. Only the industry with good technology can actually rule the world!
Fig (6): Digital Ecosystem Impacts
Conclusion
Digital Eco – system are today’s most open system. Industries are 95% dependent on this System. What we have discussed so far in this assignment we actually conclude that Digital Eco – system can easily be Analyzed and evaluate through Porter’s competitive forces Model. Many companies are already using this strategy. Like Volkswagen group, has applied the B2B extranets one of the techniques of Digital Eco – System that provides them good interface with the suppliers. Similarly, there are many industries applying Digital Eco – system according to Porter’s Competitive Model for achieving good results. The graph below represents the digital eco – system of different industries.
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{draw:frame} And this is how Digital Eco – system looks like in real
References
Young, C. (2001) Digital_ Business Ecosystem_, [Online], Available:
World Economic Forum, Digital Ecosystem [Online], Available”
http://www.weforum.org/en/initiatives/Scenarios/DigitalEcosystem/index.htm
Thomas Peterson. (2010) The power of Digital Ecosystem, [Online], Available:
http://000fff.org/the-power-of-digital-ecoystems/
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