Article Review 3 – Coursework Example
2/14 Article Review 3: Strategies for Transitioning ‘Old Economy’ Firms to E-business What is the main point the is trying to get across?
Edieal Pinker, Abraham Seidmann, and Reginald Foster in this article are reviewing the effects of new technology to economy firms. Their primary focus is how legacy companies, those established before the advent of e-business have continued to excel while some established after the dot.com error have failed due to their e-business strategies. To them, the legacy firms are a representation of the future e-business. They discuss five myths that firms adopting new technology should be aware of since they have caused the failure in stated companies. They further give guidelines for devising successful e-business strategies.
2. Indicate 3 pertinent points that enforce the authors point of view. Fully define these points.
The failure of firms like DrKoop.com, Kozmo.com, and Webvan , which were established during the dot.com error while other like Ann Taylor continued to excel without use of Websites.
The need to adopt and clearly strategize e-business policies in legacy firms.
Involvement of all stakeholders and department in an organization in adopting this technology, as is done in the Johnson & Johnson a decentralized firm (3).
3. Match topics in the article with material in the text.
The article’s main topic ‘Strategies for Transitioning Old Economy Firms to E-Business’ integrates effectively with the text information in the report (1).
The last issue ‘Four paradigms of moving forward’ is however misleading since the authors explain five guidelines to advance the firm (5).
4. Are there any faulty or bias opinions in the article?
The view that it is still early to get into e-commerce is quite misleading (6). With competitors using the new technology my opinion is that a firm should ensure they adopt e-business as soon as possible. This ensure effective competition since late entry into e-business may lock a company out as customers will have shifted interest and developed consumer loyalty the competitors who embraced e-commerce earlier.
5. Are there any terms discussed that you have not heard before? Define them.
There are two new terms explained in the article. These terms are; legacy firms (1) describing established before the advent e-business and dot-com spin-off (2) which is a way of creating an e-business.
Edieal Pinker, Abraham Seidmann, and Reginald Foster. Strategies for Transitioning ‘Old Economy’ Firms to E-business. N.d. Print.