Copyright © 2002 by Marketspace LLC Rayport, Jaworski e-Commerce Chapter 6 Enhanced Lecture Slides...

Copyright © 2002 by Marketspace LLC

Rayport, Jaworski

e-Commerce

Chapter 6 Enhanced Lecture Slides

Implementation

Exhibits and Tables

Last Updated: 03/18/02Copyright 2002 by Marketspace LLC

Implementation — Today’s Objective

To introduce the firm-specific infrastructure that must be created and configured to go to market and achieve the firm’s strategic goals

How can the business

communicate with its target customers?

How can the business

communicate with its target customers?

How can the business go to

market?

How can the business go to

market?

Chapter 5

Chapter 6


Chapter 6:Implementation

The general implementation framework

The importance of implementation

A framework for the delivery system and the five components of the delivery system

Online and offline integration

The categories of offline innovation and the offline innovation process

The new logic behind new-economy innovation and the new-economy innovation frameworks and processes

Case study: Schwab

Conclusion









Case study: Schwab

Conclusion


Exhibit 6–1: Marketspace Evolution and Need for Continuous Innovation

Brand promise Branding Marketing communications Customer interface

Brand promise Branding Marketing communications Customer interface

Source: Monitor analysis

Objectives Achieve strategic goals Adjust product offering

and delivery system to rapidly changing marketspace environment

The implementation follows from and is informed by branding, communication and the customer interface choices.

Implementation

Deliver on the promised

experience

Renew/innovate thecustomer experience

Innovation Process

Delivery System


Supporting Slide 6–A: Two Integral Components of Implementation

Objectives Deliver the promised

customer experience

Turn strategic intent / concepts into results

Objectives Maintain fit between

marketspace evolution and the company’s delivery system and product offering

Build theinfrastructure to

deliver on the brand promise

Innovate / renew the customer

experience

Source: Monitor analysis









Case study: Schwab

Conclusion

Last Updated: 03/18/02Copyright 2002 by Marketspace LLCSource: Adapted from Thomas V. Bonoma, The Marketing Edge, The Free Press, 1985.

Exhibit 6–2: Why Does Implementation Matter?

Poor

Good

Appropriate InappropriateStrategy

Implementation

Four conditions can be experienced by firms in the marketplace: success, roulette, trouble and failure.

Success

All that can be done to ensure success has been done

Success

All that can be done to ensure success has been done

Roulette

Good execution can mitigate poor strategy

or Same good execution

can hasten failure

Roulette

Good execution can mitigate poor strategy

or Same good execution

can hasten failure

Trouble

Poor execution hampers good strategy -- management may never become aware of strategic soundness because of execution inadequacies

Trouble

Poor execution hampers good strategy -- management may never become aware of strategic soundness because of execution inadequacies

Failure

Difficult to diagnose -- bad strategy masked by poor execution

More difficult to fix -- two things are wrong

Failure

Difficult to diagnose -- bad strategy masked by poor execution

More difficult to fix -- two things are wrong


Exhibit 6–3: Challenges of Online Implementation

Essential Challenges of Online Implementation

Customer-Driven

Customer-Driven

Organization-Driven

Organization-Driven

More visibility of errors = stronger

competitive implications of errors

More visibility of errors = stronger

competitive implications of errors

Lower switching barriers = increased importance of good

implementation

Lower switching barriers = increased importance of good

implementation

More complex linkages = increased

complexity of implementation

More complex linkages = increased

complexity of implementation

More fluid organizational boundaries =

increased complexity of implementation

More fluid organizational boundaries =


More dynamic market environment =


More dynamic market environment =



Poor product fulfillment is one of the top consumer complaints about e-commerce businesses. In 1999, only 74 percent of all e-commerce purchases were fulfilled on time.

eBay’s Network Shutdown eBay’s Network Shutdown

In June 1999, eBay suffers a 22-hour site shutdown due to technical difficulties.

EBay’s stock loses more than 20 percent of its value.

EBay loses significant revenues.

Auction sellers’ confidence in eBay’s abilities is weakened.

Rival auction sites gain additional business.

In June 1999, eBay suffers a 22-hour site shutdown due to technical difficulties.

EBay’s stock loses more than 20 percent of its value.

EBay loses significant revenues.

Auction sellers’ confidence in eBay’s abilities is weakened.

Rival auction sites gain additional business.

Buy.com Pricing and FulfillmentBuy.com Pricing and Fulfillment

Buy.com outsources most of its infrastructure services, which results in implementation problems.

Buy.com has developed a poor reputation for advertising products that become back-ordered for weeks.

Buy.com faces a lawsuit because it charged for orders that could not be filled.

Negative publicity and low confidence in the company result.

Buy.com outsources most of its infrastructure services, which results in implementation problems.

Buy.com has developed a poor reputation for advertising products that become back-ordered for weeks.

Buy.com faces a lawsuit because it charged for orders that could not be filled.

Negative publicity and low confidence in the company result.

Supporting Slide 6–B: The Effects of Poor Implementation


Built to Last:

The Offline World

Built to Rebuild (Fast):

The Online World

The name of the game is to consistently outplan the competition. An elaborate strategic planning process is important for long-term success.

With no time for elaborate planning (“be fast or be last”), frequent experimentation and adaptability, as well as locking in alliances earlier than competitors, are the keys to success.

Organizational growth is based on organic growth with selective use of acquisitions to fill pockets of deficiencies. (Post-merger integration processes are usually slow.)

Acquiring competencies, assets and customer base are far more important than organic growth. The definition of “the organization” is flexible, and hence, so is the design of organizational architecture.

Scaling up requires years of building up physical assets and brand equity.

Scaling up takes months and is based on information assets.

Growth is constrained by the limited number of available market opportunities.

Growth is constrained by the company’s ability to capitalize on the overload of opportunities (because of people, infrastructure, etc.)

Most successful companies are not founded on a "great idea.”

Most successful companies are based on a “great idea.”

Sources: Frederick P. Brooks, Built to Last, Harper Business.

Supporting Slide 6–C:Point-Counterpoint: Built to Last or Built to Rebuild?

“Smart Way to Start: 10 Principles of the New Economy,” Business 2.0 (March 2000).









Case study: Schwab

Conclusion


Supporting Slide 6–D: A Framework for the Delivery System

Value PropositionValue Proposition

The delivery system of a company is the most detailed and concrete expression of the company’s value proposition.

Business ModelBusiness Model

Product OfferingProduct Offering

DELIVERY SYSTEM

The value proposition, the product offering and the

business model each determine the requirements for the construction of the

delivery system.


Source: Clayton M. Christensen, “Meeting the Challenge of Disruptive Change,” Harvard Business Review 78, no. 2 (March-April 2000).

Exhibit 6–4: The Delivery System Needs to Support and Reinforce the Resource System

ProcessesProcesses

AssetsAssets

SystemsSystems

PeoplePeople

Mapping the Resource System

Delivery System

Supply ChainsSupply Chains


Supporting Slide 6–E: The Five Components of the Delivery System

ProcessesProcesses

Supply chainsSupply chains

PeoplePeople

SystemsSystems

AssetsAssets

• Human-resources system that places high value on the recruitment, selection, training, development and evaluation of key personnel

• Routines or established procedures for the organization

• Can be divided into physical and information-based assets

• The patterns of interaction, coordination, communication and decision making that employees use to transform resources into customer value

• Provider of place for transactions, where buyers and sellers come together to conduct business


Supporting Slide 6–F: Processes

PeoplePeople

ProcessesProcesses

Supply ChainsSupply Chains

Because the online firm can play a number of roles, the following processes must be configured by online firms during implementation:

1. Resource allocation process

2. Human-resource management process

3. Manufacturing and distribution process

4. Payment and billing processes

5. Customer support and handling processes

AssetsAssets

SystemsSystems


B2C (Business-to-consumer)B2C (Business-to-consumer)

Stock-it-yourself

Outsource warehousing

Drop ship

Fulfillment intermediaries

Stock-it-yourself

Outsource warehousing

Drop ship

Fulfillment intermediaries

B2B (Business-to-business)B2B (Business-to-business)

Customer-centric

Vertical hubs

Customer-centric

Vertical hubs

C2C (Consumer-to-consumer)C2C (Consumer-to-consumer)

Much like a vertical hub, many sites (e.g., eBay) have created customer-to-customer sales

Provides a forum for buyers and sellers to meet

Buyers and sellers trade directly (eliminating intermediaries)

A global marketplace with a large and interested trading company

Much like a vertical hub, many sites (e.g., eBay) have created customer-to-customer sales

Provides a forum for buyers and sellers to meet

Buyers and sellers trade directly (eliminating intermediaries)

A global marketplace with a large and interested trading company

C2B (Consumer-to-business)C2B (Consumer-to-business)

C2B companies include auction services like Priceline.com. Individual consumers place bids with businesses, and businesses decide whether to sell.

Also includes consumer group buying companies like Mercata.com.* Mercata.com is a trading community that lowers its prices as more people purchase a product. Mercata allows consumers from around the world to achieve group scale economies.

C2B companies include auction services like Priceline.com. Individual consumers place bids with businesses, and businesses decide whether to sell.

Also includes consumer group buying companies like Mercata.com.* Mercata.com is a trading community that lowers its prices as more people purchase a product. Mercata allows consumers from around the world to achieve group scale economies.

Exhibit 6–5: Four Types of Supply Chains Found in Marketspace

* Mercata.com is no longer in business









Case study: Schwab

Conclusion


Fulfillment systems

Customerinterface

Online Offline

Yahoo!

Amazon.com

BN.com

McD

on

ald

’s

Eg

gh

e ad

*

Exhibit 6–6: Where to Play Online and Offline

Online and offline integration is most complex for hybrid companies. A simple matrix provides examples of both pure-play and hybrid companies:

Due to their dual-interface nature, hybrid firms face issues that pure-play firms do not.

* Egghead is no longer in business


Disadvantages: Dual-organization hybrids

Disadvantages: Dual-organization hybrids

Advantages:Single-organization hybrids

Advantages:Single-organization hybrids

Customer benefits

People

Taxes

Valuation

Systems

Customer benefits

People

Taxes

Valuation

Systems

Advantages:Dual-organization hybrids

Advantages:Dual-organization hybrids

Coordination processes

License to cannibalize

People

Allocations

Taxes

Valuation

Coordination processes

License to cannibalize

People

Allocations

Taxes

Valuation

Disadvantages:Single-organization hybrids

Disadvantages:Single-organization hybrids

Coordination and cooperation process

People

Allocations

Coordination and cooperation process

People

Allocations

Avoiding customer confusion

Consistent integration of online and offline customer service

Managing a consistent brand

Avoiding customer confusion

Consistent integration of online and offline customer service

Managing a consistent brand

Supporting Slide 6–G: Advantages and Disadvantages Single-Organization and Dual-Organization Hybrids

Whether structured as a single or dual organization, there are advantages and disadvantages to housing the online and offline interfaces in a hybrid firm.








The new logic behind New Economy innovation and the New Economy innovation frameworks and processes

Case study: Schwab

Conclusion


Supporting Slide 6–H: The Categories of Offline Innovation

Line extensionsLine extensions

Changing the basis of competition


New industriesNew industries

• Incremental advances to an existing product

• New competitive position or niche in market

• Innovations that can create a new industry

3M, a leading offline innovator, describes three categories of innovation development. Each has a different research process and product time frame.


Laboratories Primary

Activities Time

Frame Innovation

Type

Division Laboratories

Product development

Product control

Technical service

Today’s business: 0–3 years

Line extension

Sector Laboratories Sector

technology development

3–10 years


Central Research New

technology development

10-plus years

New industries

3M’s Research Paradigm

Key TakeawaysKey Takeaways

Source: Ernest Gundling, The 3M Way to Innovation, (Kodansha America Inc., 2000).

Traditional offline innovation took years and emphasized sustainable and gradual innovation.

Marketspace still offers room for incremental innovation, but emphasis shifts to more drastic innovations.

High information content of innovation objects increases speed of innovation from years to months or even shorter periods.

Short history of marketspace means new collaborators and complementors become available frequently.

Traditional offline innovation took years and emphasized sustainable and gradual innovation.

Marketspace still offers room for incremental innovation, but emphasis shifts to more drastic innovations.

High information content of innovation objects increases speed of innovation from years to months or even shorter periods.

Short history of marketspace means new collaborators and complementors become available frequently.

Table 6–1: Innovation Used to be Slow and Gradual in the Offline World


Innovation by DoodlingInnovation by Doodling

Innovation by DesignInnovation by Design

Innovation by DirectionInnovation by Direction

Exhibit 6–7: The Offline Innovation Process Was Internal to the Firm

The offline world views innovation as a funnel process with three distinct phases. Ideas are eliminated during each phase, until only the most promising remain.

First step: Brainstorm.

Next: Cull the ideas that are the most effectiveand promise greatestcustomer acceptance.

Finally: Refine ideas through market research, test runs,

and further testing of viability.









Case study: Schwab

Conclusion


New Logic Behind the New-Economy InnovationNew Logic Behind the New-Economy Innovation

It is fundamentally shaped by the dynamic nature of online business.

New innovation frameworks try to incorporate the new focus on coevolution of technology and customers.

New innovation processes are emerging as applied versions of these new innovation frameworks.

High investment costs are a key constraint in the innovation selection process, and those costs are higher offline than online.

Innovation is no longer an optimization within given constraints. The fluid nature of online companies and abundance of capital mean the online companies do not have to focus on optimization.

The locus of innovation selection moves from inside the firm’s boundaries to the market outside. The company can get direct customer feedback

Companies use adaptive innovation, or a “sense and respond” approach, instead of trying to “guess right the first time.” Online companies are eager to innovate, and they tolerate imperfection.

It is fundamentally shaped by the dynamic nature of online business.

New innovation frameworks try to incorporate the new focus on coevolution of technology and customers.

New innovation processes are emerging as applied versions of these new innovation frameworks.

High investment costs are a key constraint in the innovation selection process, and those costs are higher offline than online.

Innovation is no longer an optimization within given constraints. The fluid nature of online companies and abundance of capital mean the online companies do not have to focus on optimization.

The locus of innovation selection moves from inside the firm’s boundaries to the market outside. The company can get direct customer feedback

Companies use adaptive innovation, or a “sense and respond” approach, instead of trying to “guess right the first time.” Online companies are eager to innovate, and they tolerate imperfection.

Supporting Slide 6–I: What is the New Logic Behind theNew-Economy Innovation?


Offline Trade-offs / Principles Supporting Funnel ApproachOffline Trade-offs / Principles Supporting Funnel Approach

Online PrinciplesOnline

Principles

Very high investments are required to launch new innovation.

Limited resources force choices about which innovations to pursue.

Trade-offs and choices are made inside the organization before products hit the market.

Time-to-market and first-mover imperative need to be balanced with the time required to gather customer input.

Launching early increases risk of failure, and flops must be avoided because of the high costs and damage to brand equity.

Moderate investments are required to launch new products and services.

Markets decide the future of new innovations, with no need for firms to make choices internally.

First-mover imperative can be achieved while continuing to gather customer input.

Beta versions allow for revisions and customization, which benefit innovator.

The keys drivers that determine the success of innovation and implementation are:

– Customer base– Customer data analysis– Knowledge management

Table 6–2: Offline Innovation Process vs. Online Innovation Process


Disruptive TechnologiesFramework

Disruptive TechnologiesFramework

Dorothy Leonard Innovation Framework

Dorothy Leonard Innovation Framework

Supporting Slide 6–J: The New-Economy Innovation Frameworks

« Leonard categorizes innovation into five groups:

• User-driven enhancement

• Developer-driven development

• User-context development

• New application or combination

of technologies

• Technology/market coevolution

« Leonard categorizes innovation into five groups:

• User-driven enhancement

• Developer-driven development

• User-context development

• New application or combination

of technologies

• Technology/market coevolution

« Create an entirely new market through the introduction of a new kind of service or product.

« The performance levels of these disruptive technologies progress faster than market demands and will more completely fulfill consumer expectations later in the product’s life cycle.

« Create an entirely new market through the introduction of a new kind of service or product.

« The performance levels of these disruptive technologies progress faster than market demands and will more completely fulfill consumer expectations later in the product’s life cycle.

The ability of online firms to rapidly and continuously adapt and improve has led to innovation frameworks that focus on the coevolution of technology and customers. Two frameworks are particularly useful in addressing these challenges.


Source: Clayton M. Christensen, The Innovator’s Dilemma (Harvard Business School Press, 1997).

Time

Pro

du

ct P

erfo

rman

ce

Disruptive technological

innovation

Performance demanded at the

low end of the market

Performance demanded at the high end of the

market

Progress due to sustaining

technology

Progress due to sustaining

technology

Exhibit 6–8: New Innovation Frameworks Addressing Coevolution Have Emerged

Christensen frames disruptive technologies as innovations that create new markets through the introduction of new services and products.


In the early days of InternetIn the early days of Internet

Over timeOver time

Supporting Slide 6–K: Amazon.com as Example of Disruptive Technologies

The Internet has proven to be a disruptive innovation for many companies and industry sectors.

Innovation

Amazon.com sold only books, without many frills or value-added services.

Amazon.com sold only books, without many frills or value-added services.

Amazon.com upgraded its bookselling offering by adding several features:

• Reviews by customers

• One-click buying

• Personalized recommendations for book purchases

Amazon also added new shopping categories (music, electronics) and other forms of commerce (auctions, zShops).

Amazon.com upgraded its bookselling offering by adding several features:

• Reviews by customers

• One-click buying

• Personalized recommendations for book purchases

Amazon also added new shopping categories (music, electronics) and other forms of commerce (auctions, zShops).


3

2

1 4

5

Developer-driven development

Technology/market coevolution

User-context development

User-drivenenhancement

New application or combination of technologies

High Low

High

LowM

atu

rity

of

tech

no

log

y d

esig

n

Alignment of product linewith current customer base

Source: Dorothy Leonard-Barton, Wellsprings of Knowledge (Harvard Business School Press, 1996).

Exhibit 6–9: New Innovation Frameworks Addressing Coevolution Have Emerged

Next we consider the Dorothy Leonard Innovation Framework.


Supporting Slide 6–L: Dorothy Leonard Innovation Framework



Technology/market coevolutionTechnology/market coevolution

User-driven enhancementUser-driven enhancement

Developer-driven developmentDeveloper-driven development

User-context developmentUser-context development

• No-risk product improvements such as lowering product price or adding low-cost enhancements.

• New way of meeting an existing consumer need

• Positioning and development to meet a previously unexpressed need

• The application of established technology to a new industry

• Occurs when marketspace is undeveloped, user behavior is not well defined, and product offerings are heavily influenced by technology

While this framework was developed in an offline context, many of its principles apply to the online environment.


Napster as an Example of Technology and Market CoevolutionNapster as an Example of Technology and Market Coevolution

Napster’s technology allows easy downloading, sharing and playing of music files.

Napster’s technology was not intended to be a major commercial product.

Napster has been adopted because of the sheer demand of users. In 1999 (the year Napster was launched), an estimated 1 million of the 10 million online music buyers were Napster users.

The behavior of music buyers changed as a result of this new technology.

Napster’s technology was originally developed for MP3 files but has already been extended to other applications.

Napster’s technology allows easy downloading, sharing and playing of music files.

Napster’s technology was not intended to be a major commercial product.

Napster has been adopted because of the sheer demand of users. In 1999 (the year Napster was launched), an estimated 1 million of the 10 million online music buyers were Napster users.

The behavior of music buyers changed as a result of this new technology.

Napster’s technology was originally developed for MP3 files but has already been extended to other applications.

Supporting Slide 6–M: Drill-Down – Napster as an Example of Technology and Market Coevolution

Napster may be gone — or is at least very different from its original form — but peer-to-peer file sharing is alive and well in services such as Audiogalaxy, KaZaA, LimeWire and Gnutella, which all offer a wide selection of digital recordings.


Beta 1Initial input

Initial input

Evolution of customer preferencesEvolution of customer preferences

Product release

Product release

Evolution of technical possibilitiesEvolution of technical possibilities

Exhibit 6–10: Integrating New Technology with Customer Preferences

Beta 2 Beta 3

Source: Marco Iansiti and Alan McCormack, Sense and Respond (Harvard Business School Press, 1998).

The flexible development process emphasizes the integration of technology with customer preferences. Beta testing begins shortly after the product is developed and continues well into the implementation phase.


Exhibit 6–11: The Development of Navigator 3.0

FebJan AprMar May Jun Jul Aug

Objectives

Input from user feedback

Beta 0 (internal)

Beta 1

Beta 2

Beta 3

Beta 4

Beta 5

Beta 6

Stabilize

Integration

Feature design and coding

Fullrelease

SpecificationscompleteStart

Source: Marco Iansiti and Alan McCormack, Sense and Respond (Harvard Business School Press, 1998

The Netscape 3.0 product innovation process is a good example of the flexible development process:


Exhibit 6–12: Distributed Innovation

Customers Collaborators

EnablersSuppliers

Competitors Company

= Boundaries of the firm

= Feedback loop

The distributed-innovation model puts the purpose of continuously maintaining a fit between the organization and the evolution of the online domain at the very heart of the innovation process.


Flexible Development Process Flexible Development Process Distributed Innovation ModelDistributed Innovation Model

Supporting Slide 6–N: The New-Economy Innovation Processes

Key points

– Concept development and implementation of the ideas in the field need to overlap and be tightly integrated

– Improved version of the traditional funnel process

Benefits– Time-to-market of innovations cut from

years to months

– Multiple versions of an innovation can be launched without significant risk or additional cost

– Increased flexibility to adjust direction of innovation

Key points

– Concept development and implementation of the ideas in the field need to overlap and be tightly integrated

– Improved version of the traditional funnel process

Benefits– Time-to-market of innovations cut from

years to months

– Multiple versions of an innovation can be launched without significant risk or additional cost

– Increased flexibility to adjust direction of innovation

Key points– An additional step away from classical

funnel process

– Taps into sources of online evolution: technology, collaborators, customer preferences, new entrants and competitors

– Innovation becomes a fluid process

Benefits– Maximizes use of both internal and

external experts and sources

– Minimizes the chance of the organization being surprised by external changes

– Highly interactive and more flexible than funnel process

– Reduced time-to-market

Key points– An additional step away from classical

funnel process

– Taps into sources of online evolution: technology, collaborators, customer preferences, new entrants and competitors

– Innovation becomes a fluid process

Benefits– Maximizes use of both internal and

external experts and sources

– Minimizes the chance of the organization being surprised by external changes

– Highly interactive and more flexible than funnel process

– Reduced time-to-market









Case study: Schwab

Conclusion


Case Study: SchwabDelivery System

PeoplePeople

SystemsSystems

AssetsAssets

• 395 branches (as of June 2002)• 8 million online and offline investor accounts (as of 8/31/2002)• Growing database of investor information

• Three-tier IT system included mainframes, middleware servers and Web servers

• The dial service eSchwab was separated from the traditional brokerage and reported directly to Schwab’s CEO• In 1998, after Schwab.com launch, Schwab and eSchwab were replaced with a new hybrid that gave Internet training to offline employees

An accounting of the first three components of Schwab’s delivery system — assets, people and systems — when Schwab migrated its products and services online by launching Schwab.com.


Schwab’s InnovationSchwab’s Innovation

High investment in technology and strong history of releasing new products and services

Innovations offered convenience to customers while reducing Schwab’s overall service costs

With Schwab.com, investors can manage their portfolios and access new tools, such as an IRA analyzer, an online retirement planner and online funds transfer

High investment in technology and strong history of releasing new products and services

Innovations offered convenience to customers while reducing Schwab’s overall service costs

With Schwab.com, investors can manage their portfolios and access new tools, such as an IRA analyzer, an online retirement planner and online funds transfer

Case Study: Schwab Innovation


Exhibit 6–13: Schwab IT Infrastructure

Source: Nicole Tempest and Warren McFarlan, Charles Schwab Corporation (A), Case no. 9-300-024, (Harvard Business School Publishing, September 1999).


Exhibit 6–14: Timeline for Schwab Innovations

1979 1985 1989 1991 1992 1993 1995 1996 1997 1998 1999 2000

Entire trade clearing system brought in-house

Equalizer: DOS-based product enables PC users to trade stocks online

Telebroker: 24/7 quotes and order placement by telephone

SchwabLink: Service for fee-based financial advisors

OneSource: Mutual fund program allowing investors to purchase Schwab and non-Schwab funds free of charge

Streetsmart: Windows-based software allows online trading of equities, bonds and mutual funds

October 1995eSchwab:

Electronics software package dialing into Schwab system

June 1995Advisor

Source: Referral service for fee-based advisors

March 1996Upgraded

eSchwab: First major brokerage firm to offer trading via the Internet

September 1997Customized asset

allocation tool available online

October 7, 1997SchwabLink

available on the Web

October 1, 1997First speech-

recognition service for investors

January 27, 1998MoneyLink:

Electronic funds transfer service

May 14, 1998First US website

enabling order placement in Chinese

January15, 1998Schwab.com

launches

January 20, 1998IRA Analyzer

launches

September 21, 1998CD-ROM tool for

retirement setup and monitoring

November 23, 1998Web tool to track and

benchmark investor performance

April 16, 1999New site

based on user input

April 27, 1999Retirement

Planner onlineAugust 14, 1999Velocity

software trading system for active investors

September 8, 1999

New Web tools for investment advisor offering

May 24, 1999MySchwab

launches

August 19, 1999Plans for cross-

platform wireless trading

November 9, 1999Paperless trading

with eConfirms

October 20, 1999After Hours trading

November 23, 1999Velocity 2.0 launch

December 1, 1999Enhanced

Analyst Center

December 22, 1999New online mutual

fund tools

February 3, 2000Learning Center:

Interactive education tool for online learning

March 7, 2000Schwab and

Barclays announce Internet-based foreign exchange service

March 15, 2000Schwab expands

advice offering with portfolio consultation

March 31, 2000Schwab and Dow

Jones unveil online Chinese news and research service

May 7, 2000Stock Analyzer

launches, offering third-party equity analyst recommendations and earnings projections


Case Study: Schwab Innovation Timeline Update

2001

Introduced Stock Explorer®, an online stock screening tool

Initiated Live Online program, a series of workshops that utilize the Internet to bring Schwab representatives and clients together to discuss investing strategies, retirement planning and wealth management

2002

Introduced an alternative for investment research: Schwab Equity Ratings™

Launched Schwab Advisor WebCenter™, an advisor-branded website development, and hosting service for independent investment advisors working with Schwab Institutional

2001

Introduced Stock Explorer®, an online stock screening tool

Initiated Live Online program, a series of workshops that utilize the Internet to bring Schwab representatives and clients together to discuss investing strategies, retirement planning and wealth management

2002

Introduced an alternative for investment research: Schwab Equity Ratings™

Launched Schwab Advisor WebCenter™, an advisor-branded website development, and hosting service for independent investment advisors working with Schwab Institutional









Case study: Schwab

Conclusion


Implementation – Conclusion

What is online implementation?

Why does implementation matter?

What is the delivery system?

What are the five components of the delivery systems?

What are the advantages and disadvantages of online/offline integration?

What are the categories of offline innovation?

What is the offline innovation process?

What is the new logic behind the new-economy innovation?

What are the new-economy innovation frameworks?

What are the new-economy innovation processes?

After today’s lesson, you should be able to answer the following questions:

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