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E-Business Report on HMV.CO.UK - Essay Example
Free, community and experience are three key features to be taken into account when it comes to building any successful e-business or e-commerce website. This report on HMV (www.hmv.co.uk) evaluates its business model and operations taking as reference the PESTEL Framework (integration), Porter's Five Forces Framework (differentiation and sustainability of competitive advantage) and SWOT Analysis (planning for action)…
"e-commerce is just, when all is said and done, another kind of business. As with businesses that have come before it, there are countless "right" answers, endless combinations of business models and infinite permutations of key themes and approaches. There will be no magic bullet. No matter how often consultants and academics pretend that business is more science than art, every practitioner knows that business is almost all art, just as the genius of nearly every corporate strategy lies in its implementation." (Rayport, 1999). Indeed, these are strong words that have to be taken seriously when it comes to doing business on the Web. The reason behind these truthful remarks lies in the fact that not long ago, shortly after the increasing popularity of the Internet as a new technology, the infamous "Dot-Com Bubble" made e-marketers think and act much more cautiously regarding the real potentialities of the new technology as a profit-making tool. Rayport states it as follows:
"Business models themselves do not offer solutions; rather, how each business is run determines its success. ...