BCO 217 EU Business School Digital Business Essay Questions

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Business Finance

BCO 217

eu business school

BCO

Description

Follow instructions attached, no plagiarism, 2 parts, in total 2500 words

Part 1: Short Essay Questions (40%)

Answer the following 2 essay questions. Each question is worth 25%

  1. What are the major differences between virtual storefronts, such as Amazon, and bricks-and-clicks operations, such as Walmart? What are the advantages and disadvantages of each? provide an example of each.
  2. Explain 4 revenue models for digital business, providing an example of each.


Formalities

  • Maximum 400 words per essay..
  • Font: Arial 12,5pts. Line-spacing: default. Text-align: Justified.
  • Bibliography/References in Harvard style.
  • You may use Appendixes. These and the References do not count for the total wordcount.

Part 2: Prepare an Online Business Plan (60%)

You have been hired as a Digital Business Manager to develop a company’s online business. The company is a small business that both imports products for retail and manufactures its own (the type of products is up to you to decide). The company does not currently have an e-commerce site (it may have a simple, non-transactional web presence) and you plan to start selling online. Two weeks after starting, you must present to the management board your digital strategy plan for the next 2 years.The plan should contain, at the least, the following sections: Executive Summary, Business Description, (brief) business environment analysis, (brief) competitor analysis, Marketing plan, Shop Development, Team, Budget. As part of the Business plan, research and propose a simple software suitable for online selling, which will be described in the section called Shop Development. You must state why it is a good choice for the business.

  • The deliverable is an online business plan, between 2100

It assesses the following learning outcomes:

  • Analyze the development of competitive advantage through digital technology
  • Identify current trends in technology in digital business
  • Understand how digital technologies can be integrated within business
  • Describe the digital business and compare it with non-digital businesses
  • Analyze and assess different approaches to the development of digital platforms

Formalities:

  • Cover, Table of Contents, References and Appendix are excluded from the total wordcount.
  • Font: Arial 12,5 pts.
  • Text alignment: Justified.
  • The in-text References and the Bibliography have to be in Harvard’s citation style.


Unformatted Attachment Preview

COURSE CODE BCO 217 COURSE NAME Digital Business Task brief & rubrics Part 1: Short Essay Questions (40%) Answer the following 2 essay questions. Each question is worth 25% 1. What are the major differences between virtual storefronts, such as Amazon, and bricks-and-clicks operations, such as Walmart? What are the advantages and disadvantages of each? provide an example of each. 2. Explain 4 revenue models for digital business, providing an example of each. Formalities  Maximum 400 words per essay..  Font: Arial 12,5pts. Line-spacing: default. Text-align: Justified.  Bibliography/References in Harvard style.  You may use Appendixes. These and the References do not count for the total wordcount. Part 2: Prepare an Online Business Plan (60%) You have been hired as a Digital Business Manager to develop a company’s online business. The company is a small business that both imports products for retail and manufactures its own (the type of products is up to you to decide). The company does not currently have an e-commerce site (it may have a simple, nontransactional web presence) and you plan to start selling online. Two weeks after starting, you must present to the management board your digital strategy plan for the next 2 years. The plan should contain, at the least, the following sections: Executive Summary, Business Description, (brief) business environment analysis, (brief) competitor analysis, Marketing plan, Shop Development, Team, Budget. As part of the Business plan, research and propose a simple software suitable for online selling, which will be described in the section called Shop Development. You must state why it is a good choice for the business.  The deliverable is an online business plan, between 2000 and 2500 words It assesses the following learning outcomes:  Analyze the development of competitive advantage through digital technology  Identify current trends in technology in digital business  Understand how digital technologies can be integrated within business  Describe the digital business and compare it with non-digital businesses  Analyze and assess different approaches to the development of digital platforms Formalities:  Cover, Table of Contents, References and Appendix are excluded from the total wordcount.  Font: Arial 12,5 pts.  Text alignment: Justified.  The in-text References and the Bibliography have to be in Harvard’s citation style. Plan Rubrics Knowledge (30%) Plan coherence (30%) Application (30%) Excellent 90-100 Good 80-89 Fair 70-79 Marginal Fail 60-69 Fail Demonstrates exceptional coherence of ideas for knowledge and understanding of the key concepts of digital business, plan is realistic. Demonstrates good knowledge and understanding of key concepts of digital business at a good level. The presentation demonstrates a satisfactory level of knowledge and understanding of concepts at this basic level but there is little evidence of research Demonstrates poor knowledge and lack of understanding of the key concepts of digital business. There is no evidence of credible wider research Demonstrates extremely poor knowledge and lack of understanding of the key concepts in digital business. There is no evidence of credible wider research The plan has been very well researched and prepared, is very realistic and could form the basis of a digital business plan. The plan has been well prepared, is quite realistic, but would need minor amendments and/or additions in order to form the basis of a digital business plan. The plan has been quite well prepared, but it would improve with further clarification prior to its execution. Most of the assumptions are realistic, but some are unreasonable. The plan is insufficient. Either it would require further clarification before execution, or it is unrealistic, either in scope or outcome. The plan is inadequate. Either it would require further clarification before execution, or it is unrealistic, either in scope or outcome. Work shows an appropriate and relevant attempt to place knowledge in the context of digital business. The presentation shows There is some attempt to There is almost no attempt some attempt to place place knowledge in the to place knowledge in the knowledge in the context of context of digital business. context of digital business. digital business. There is no attempt to place knowledge in the context of digital business. Communicati Provides a very clear on plan, using conventions, (10%) vocabulary, and terminology of the discipline with a very high degree of effectiveness. Provides a clear plan, using conventions, vocabulary, and terminology of the discipline with considerable effectiveness. Provides a somewhat clear plan, using conventions, vocabulary, and terminology of the discipline with some effectiveness. Plan is somewhat unclear. There is a lack of use of conventions, vocabulary, and terminology of the discipline. Answer is unclear. Lack of use of conventions, vocabulary, and terminology of the discipline.
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Explanation & Answer

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Digital Business 1

DIGITAL BUSINESS
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Digital Business 2

Part One: Short Essay Questions
Question 1: Differences Between Virtual Store Fronts and Brick-and-Clicks
Operations
Companies strategize their businesses in a way to gain a competitive
advantage over their colleagues who offer the same products and services. A good
business strategy can increase sales while reducing operational costs. As a result,
companies dealing in e-commerce like Walmart and Amazon have designed their
business structure in the best way that befits them. For instance, Amazon uses virtual
storefronts while Walmart uses brick-and-clicks operations.
The major difference is that brick-and-clicks operations have a physical and
online store, while virtual storefronts have an online store only. Therefore, virtual
storefronts make the business more flexible because adjusting to customers’ needs
is easier and convenient as compared to brick-and-clicks, whereby changing to
customer needs and preferences are cumbersome (Palermo, 2018). Nonetheless, in
virtual stores, payment is made online because the transaction is based on trust that
customers have for the company. Payments are made through credit cards, cheques,
or bank transfers. In brick-and-clicks, payment can be either in cash or through online
payment platforms depending on the preference of the buyer.
Advantages and Disadvantages
With the increase in cybercrimes and pyramid schemes, many customers have
been in fear of shopping online. Therefore, virtual stores have suffered a blow
because of the increased fear of online retailers. Additionally, virtual stores require
that individuals should be computer literate and have access to the internet. As a

Digital Business 3

result, brick-and-clicks operations by Walmart have an advantage over Amazon
because the customers can shop physically, thus eliminating the need for trust
(Fleisch et al., 2016). Computer literacy and access to an internet connection are also
not required.
Nonetheless, it is not convenient when purchasing some products online. Some
products require testing and approval before purchase and to avoid complaints from
the clients. For example, commodities that are too expensive, like cars, laptops, and
television sets, require scrutiny by clients by buyers before purchase to prevent any
future complaints from them (Fleisch et al., 2016). Therefore, customers would prefer
brick-and-clicks operations over virtual storefronts because of the chance they get to
inspect their merchandise.
Notably, virtual storefronts require fewer finances to run them. Virtual stores
are low cost because they save on the cost of hiring employees and renting the
business space. Brick-and-clicks stores are less profitable because a lot of expenses
are incurred when renting stalls and hiring staff. Besides, many clients would prefer
shopping with Amazon’s online storefronts because shopping is only a click of a button
away.

Digital Business 4

Question 2: Revenue Models for a Digital Business
1.Revenue from subscription access to content
For every digital business, there is a need to implement a subscription revenue
model to enable both the customers and the company to benefit mutually. Clients can
enjoy the benefits of auto renewal and have a high value of products at low costs. For
instance, Amazon noted that a repeat customer spent 66% more than a new customer
(Ahmad, 2019). In the subscription revenue model, Amazon charged customers a
recurring fee that was calculated either weekly, monthly, and quarterly. Therefore,
revenue accumulates with every new subscriber. With the model, the company’s
revenue is bound to increase exponentially over time because, as the company loses
older customers, new customers come on board. The longer the customers use the
product, the more they become valuable to the company because the acquisition is
expensive than retention. Amazon used the model to enable customers to access
their online content.
2. Revenue from CPM display advertisement on site.
Many websites do advertisements by placing a video ad that leads to another
website when clicked. CPM generally means cost per a thousand impressions. The
owner of the websites receives commissions depending on the amount of traffic on
the website. CPM display advertisement on site is a good technique through which a
company can earn extra revenue if proper strategies are set (Ahmad, 2019). A
company can attract more traffic to their websites if they post more attractive content.

Digital Business 5

3. Revenue from pay per view access to the document.
In such a scenario, the company earns revenue through single access to a
document, video clip, or audio file. The documents may or may not be secured with
passwords because of the need to attract more traffic. For instance, customers can
pay to access information that they want or for comic video clips depending on their
tastes and preferences. The video or audio clips can be downloaded by the clients to
be used at their convenience.
4. Revenue from sponsorship of content types and site sections
In some cases, a company can pay to adverti...


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