Week 1 is busy busy busy, trying to get group work team members together and getting my head around the requirements for the next few months…
Also, reading up on Social Media and Mobile Strategies. This is the textbook for the unit:
I had to get a hard copy of this from Pearson Australia as no eBook was available 😦
It seems like a good read. Week one was Chapter 1 and 2. Strategy was defined by reviewing leading researcher’s definitions and I came up with:
- long term direction of firm
- overall plan for deploying resources
- willingness to make trade-offs regarding directions and ways of deploying resources
- unique position among competitors
- sustainable competitive advantage over rivals to ensure lasting profitability
Levels of strategy were discussed – corporate, business and operational. This is big organisation language. A small business or individual wouldn’t consider their strategy in this way.
Also looked at the life cycle of technological revolutions and used examples of rail, cars and steam to illustrate the phases of Irruption, Frenzy, Crash, Synergy & Maturity. eCommerce is considered to be at the Synergy phase of it’s technological revolution. This is characterised by post-share price crash, shake out of non-viable businesses, increased capacity of large competitors harnessing their economies of scale and financial strength.
The text has great case studies to reinforce the authors arguments and illustrate complex concepts.
All good so far. What do you think your strategy for Social Media and Mobile Commerce would be?