Strategic Management and Techniques Undertaken by eBay - Book Report/Review Example

Strategic Management and techniques undertaken by eBay Executive Summary The objective of the study is to ascertain the various frameworks and strategic techniques undertaken by eBay to ensure its sustainability within the competitive market scenario. The other objective of the study is to have a wider knowledge about the matrices being applied by the company to determine its position in the competitive market. In order to acquire data for the study, a qualitative approach has been considered, wherein due importance has been delivered to secondary sources or information when applying the models and frameworks of PESTLE, Porter’s Five Forces, SWOT, Value Chain, Ansoff matrix and Porter’s generic strategy for data interpretation and analysis. The findings revealed that eBay endures its business strategies in accordance with various frameworks and strategic matrices to maintain sustainability position worldwide. Accordingly, recommendations have also been drawn based on the future prospects of eBay, suggesting it with specific strategies to keep hold of its competitive positioning in the global market scenario. Introduction Strategic competitiveness is said to be achieved only when an organization formulates advance strategies and implements it within the internal operations of the firms successfully, with better use of resources and better alignment in its external and internal business environment factors (Ahoy, 1998). These advance strategies are regarded as the integrated sets of actions that are mainly designed for exploiting the competencies of the firm and gaining competitive advantages over others (Saloner & et. al., 2008). Such a strategic management process assists the organisation in gaining knowledge about its competitive positioning in the local and external markets (Hitt & et. al., 2009; Rugman, 2005). Advantages and importance of this particular notion can also be examined in the current context of eBay Inc, which is a globally reputed American multinational operating in the international market of online retailing. This report intends to discuss about the various strategic issues being faced by the company globally. Various theoretical frameworks, such as SWOT and PESTLE analysis among others, have also been incorporated in this study to obtain knowledge about the competitive positioning of the company, in its internal as well as external business environment. Furthermore, various matrices such as Ansoff and others have been implemented to measure the performance standard of the company followed by noteworthy recommendations to assist the organisation in preserving its competitive positive worldwide in the long run. Strategic Issues Being faced by eBay in Maintaining Current Global Competitive Position In order to gain detail knowledge about the strategic issues currently being faced by eBay, scanning of its internal and external environment is necessary (McLindon & et. al., n.d.). As mentioned by Reputation Institute (2012) and Gates (2010) among others, effective linkage between the internal and external factors influencing company operations, rewards greater aid to the company in taking effective strategic decisions based on adequate knowledge of market trends. Correspondingly, it can be stated that if eBay has been capable of aligning its company operations with the external business factors current persisting in the global business environment, it possesses a persuasive competitive position. Evaluation of eBay’s External Environment PESTLE Analysis Political: Since, its establishment, eBay has been inclined towards expanding in various global markets targeting Germany, Thailand, UK, Poland, Sweden and China as its major destinations. Hence, it is quite likely that the company has been influenced by a versatile political scenario, differing from one nation to another. For instance, the trade reforms related to retailing within the European Union, affected eBay substantially in performing its operations following the same business model as in its home country America, causing disruptions and thereby stimulating changes in its business operations in Germany, Sweden, UK and Poland (Hill & Jones, 2012; Coghlan & et. al., 2005). Economic: The occurrence of global recession also imposed considerable effects on eBay in its recent operations, affecting its market presence in many of its major markets including the US and the UK (eBay EU Liaison Office, 2010). To overcome these challenges of polarised and often contrasting economic factors, eBay has facilitated cross-broader trade by providing an online platform for the consumers to enjoy the trade opportunities globally (Song, 2013; George Mason University, 2003). Furthermore, eBay has also opened up numerous opportunities for the small and the medium enterprises through its effort to build strategic alliances emerging as major driver of economic growth through e-commerce (Bennett, Coleman & Co, 2014; Frontier Economics Ltd, 2008). Notably, these expansion strategies can be determined as the after effect of the rising competition in the global economic scenario as the low entry and exit barriers and high degree of threat for forward integration in the online retail industry gave rise to characteristics of a perfect competitive scenario (Hill & Jones, 2012; Frontier Economics Ltd, 2008). Social: As consumers today prefer wide range of purchase options at a comparatively lower price, demand for online retail stores like eBay increases substantially. In addition, giving facilities of mobile phone marketing and online payment facilities, eBay was also capable to tap the uprising trend of online marketing and online transaction (1eBay Inc., 2014). However, differences persisting in terms of its social and cultural ideologies as well as consumer behaviour and their tastes and preferences eBay had to emphasise following different organisational structures and marketing approaches (Wang, 2013). Technology: eBay has been much inclined towards developing its business model utilising the advanced telecommunication facilities provided through mobiles and internet mediums (Black, 2007). As noted by Baker (2009), the current technology industry presents a challenge for online marketers like eBay owing to the rising awareness of consumers regarding technology aspects and their increased level of consciousness concerning safety matters when participating in online transactions. This particular finding can be justified, following the company’s continuous effort to develop a matured digital ecosystem, which facilitates in reducing imitability challenges for the company, eBay Mobile and eBay’s strategic alliance with online payment service providers like PayPal can be illustrated as the outcome of such influences (Baker, 2009). Environmental: It is worth mentioning in this context that along with technology advancements, stakeholders of the global retail business environment has also become quite aware of the environmental responsibilities shared by the companies. Such influences are often observed to pressurise traditional retail stores to practice costly sustainability strategies. However, operating online, eBay has been able to overcome these challenges to a substantial level (Bland &et. al., 2007; Constantinides, 2004). Legal: Furthermore, as the industry has been quite significant in yielding considerable benefits for economic growth facilitating Foreign Direct Investments as well as steering inter-cultural understanding, the legal atmosphere has been quite encouraging to promote players in this sector. While, for new investors and participants, this seems to be a positive indication of growth opportunity, for eBay this shall indicate a rise in competitive challenges, as such legal environment is likely to reduce entry and exit barriers in the industry (Deloitte LLP, 2013). Porter’s Five Forces Threat of new entrants: The global e-retail sector, wherein eBay is operating is still presented through low entry and exit barriers with high potentiality of horizontal diversification by the traditional retailers. In addition, the high prospects of return on investment and short-run break even obtainability has also triggered the risks of horizontal integration in this business sector, as can be witnessed in the case of Amazon.com and many other global players. Hence, threat of new entrants is high to moderate in this sector (Deloitte LLP, 2013). Source: (Deloitte, 2013) Threat of substitute products: The threat of substitute products is also high in this sector owing to the global presence of traditional retail stores, having better access to developing economic regions along with rural and semi-rural markets all around the world. Additionally, as the opportunity cost is also low for consumers in this industry, they can easily shift to substitute products to suffice their needs (Cushman & Wakefield, 2013). Buyers’ bargaining power: The aforementioned factors also increase buyers’ bargaining power, raising challenges for eBay to keep the switching costs for its customers high through value added services. It is owing to these influences that the market has been observed as currently segregated into three dimensions of next generation market, established and growing market (i.e. for eBay) and digital DNA market increasing risks for backward and forward integration (A.T.Kearney, 2013). Suppliers’ bargaining power: Supplier power is however measures low to moderate in this industry, as suppliers in this sector work in a saturated manner, under a threat of backward integration, forcing them to invest in differentiation strategies (Deloitte LLP, 2013). Rivalry in the Industry: Overall, the rivalry amid firms in this industry context is observed as low to moderate, as they need to operate in a cluster to overcome the stated challenges (Deloitte LLP, 2013). Evaluation of the eBay’s Internal Environment SWOT Analysis Strengths: eBay’s major strength, in the current business environment is its continuous innovative approaches taken to gain an augmented market share worldwide. Apart from this, the company also endures an easy by safer way of the payment options that adds on to consumers’ convenience in shopping experiences. This particular company also maintains the economies of scale largely, benefitting it with increasing bargaining power over consumers’ purchase decisions owing to low cost facilities (Strategic Management Insight, 2012). Weaknesses: eBay also possesses certain weaknesses such as limited prospect for the growth in the similar kind of industries and rapid movement of industry life cycle towards maturity as can be observed from the below diagram (A.T.Kearney, 2012). Source: (A.T.Kearney, 2012) Opportunities: The current global retailing scenario presents a wider platform for exploring the market place as demands for online shopping facilities is also witnessed to be rising amid a large population of developing market places around the world (Strategic Management Insight, 2012). Threats: As mentioned in the earlier sections, threats of new entrants, increasing bargaining power of suppliers and customers and substitution effects can be treated as the major threats for eBay in its current market scenario (Strategic Management Insight, 2012). Corporate Level Strategic Options Taken by eBay In Order To Develop and Sustain its Global Competitive Position Ansoff Matrix eBay is operating globally and has been involved in strategic expansion on a continuous basis, since its expansion. In this respect, as illustrated in Ansoff’s matrix, market penetration is considered as the strategy option often proved beneficial for global expansion, which involves the acceleration of the market shares within the existing markets for the product. This strategy can be applied by eBay if it continues to expand in various areas and gather increased volume of online customers by preserving its versatility in terms of its product range. This will increase the sales of online purchases; thereby accelerating the market share of the company (Ansoff, 1965). Even in its past corporate strategic practices, eBay has applied the expansion strategy of market penetration in various other countries, one of the major markets being China (Hill & Jones, 2012). Ansoff Matrix (Musiolik, 2012) Another strategic option for eBay to maintain its stability in the market is product development. This mainly involves the development of new product lines within the existing market scenario. Product development incorporates innovative products and services related to the customers’ requirements. With the variations in the products, it becomes easier for the company to attract customers largely (Ansoff, 1965). Evidently, this particular strategy has also been into use by eBay, when in the year 2008 it launched a latest application of iPhone and iPod that enables the users to purchase and pay for the preferred items directly from their mobile phones(Hill & Jones, 2012). Market extension is another strategic option presented through Ansoff Matrix that reflects about the acceleration of the product’s market share in new markets. This strategy ensures maintenance of competiveness in the current market scenario and thus, can guarantee long-run sustainability (Ansoff, 1965). eBay, being a an online company, faces numerous challenges from similar kind of firms giving rise to the threats of substitutes for the company. With the advent of modernisation in the recent scenario, online shopping trends have accelerated to greater heights. The various acquisitions and partnerships being undertaken by eBay, such as acquisition of ViA-Online and partnership agreement with Three.co.uk can be noted as the examples of the market extension strategies applied by eBay (Hill & Jones, 2012). Source: (Slideshare, 2006) Porter’s Generic Strategy According to Porter’s five generic policies, eBay can use either of the two strategic options, i.e. to gain cost leadership in the industry or to differentiate its products in gaining and preserving its long-run strategic competitiveness as well as sustainability (Goldman & Nieuwenhuizen, 2006). Among these strategies, eBay can be apparently observed as focused on implementing differentiator strategies based on three specific factors, i.e. quality, service and features. For instance, offering quality advantages acts as a key success driver of eBay, as it focuses on differentiating itself from other markets by offering its product at a comparatively lower cost than its rivals’ offer. In accordance to this particular strategy, the company opts for differentiating its services and features as compared to its rivals. Illustratively, the company includes advance features and services that reflect its Unique Selling Preposition, increasing the switching costs of buyers and hence, contributing to its volume of loyal customers (Hill & Jones, 2012). Again, the framework also illustrates the differentiation strategy adopted by eBay that includes special extra services to build customer attraction. Theoretically, differentiation strategies applied by eBay can be categorised as broad differentiation and the narrow differentiation strategies, which are also considered as the strategic policies that ensure the proper functioning of the business operations. These differentiation strategies provide leverage to the firm in gaining competitive advantages over others (Goldman & Nieuwenhuizen, 2006). It is with the same intention that eBay has been emphasised at gaining competitive advantages through the strategic option of broad differentiation (Hill & Jones, 2012). Accordingly, the broad differentiation strategy has been observed to assist the company in delivering value to its customers by exceeding their expectations with respect to the products, services along with the prices. Besides, the policy also ensures better product at a lower price (Goldman & Nieuwenhuizen, 2006). Considering eBay’s corporate strategic operations, the company has entered into various acquisitions and partnerships with a motive to provide the customers with better product services (Musiolik, 2012). Source: (Slideshare, 2006) Strategic Capabilities Strategic capabilities of any organisation are its resources along with the competencies, which play a major role in determining its short run as well as long run sustainability and competency in the global marketplace. The various resources of an organisation may be categorised in terms of physical, intellectual and financial functional tools. Accordingly, through the utilisation of these resources, the strategic capabilities that might assist an organisation in gaining competitive advantages can be determined as value, inimitable, substitution and dynamic among others (Guenter, 2004). Assessing eBay’s strategic operations it can be observed that the company also implements similar framework to manage its strategic capabilities and gain competitive advantages for better sustainability. eBay’s resource for sustainability in the global market is obtained through joint ventures that provides company with enhance brand exposure and market share within a short-term period. Another resource capability of eBay can be identified as its inclination towards innovation and technological developments, which is reflected by its latest mobile application, eBay Mobile (Hill & Jones, 2012). The acquisition of the Luxembourg based company Skype that enables voice call between the online users can also be determined as eBay’s physical resource that has substantially contributed to its competitive advantages in the current global market scenario (Elrefaie, 2011). Source (Pearson Education, 2008) Safe Criteria Safe criteria are rules and regulations that enable the company to determine their level of quality services being provided to the customers. Therefore, eBay, being an online service portal that provides wide range of products to the customers, must ensure effective security system. A similar company that operates via online requires maintaining an efficient security measures to keep the information of the customers’ secret. Following a similar notion, eBay’s safety criteria include feedback system that enables the customers to have a reflection of the company’s goodwill and reputation (Mcgraw-hill, n.d.). Besides, it also provides support to the customers with respect to the transaction problems. eBay’s services further includes support for protecting the customer’s account on eBay. Besides, the company includes safety rules and regulations for the customers to promote safe and secure trading environment, facilitating its sustainability within the global market periphery (2eBay Inc., 2014). Wider Implications of these Strategic Options and its Impact on Different Areas of eBay Stakeholder’s Analysis Stakeholder analysis is important to be taken under consideration for achieving a better competitive stance in the global market scenario. Stakeholder’s analysis assists to gain knowledge about the stakeholder’s interests that may be affected by the business operations (Tanwar, 2013). Notably, the strategic options practiced by eBay, has indeed facilitated it to align its corporate strategies with the stakeholders’ interests. The following figure demonstrated the stakeholder groups interested in e-commerce success, which certainly have influenced eBay in taking the strategies illustrated henceforth. (Source: Chua & et. al., 2005) Notably, among these groups of stakeholders, eBay has been offering highest priority in sufficing the needs and demands of its customers, which is apparent in its approaches taken to serve online auctioneers through a holistic approach to continuously updating its back office processes and user interfaces in accordance with external business scenario (Freeman & et. al., 2006). Again, the strategic options taken by eBay, as discussed above applying the Ansoff Matrix and Porter’s Generic strategies model, have not only helped the company increase returns to shareholders on a continuous and consistent basis, but has also delivered it with the advantages of diversity to its employees within the workplace. This further facilitated the company with increased resources in terms of both finances and workforces to suffice the growing demand in the industry delivering greater focus on differentiation. In addition, its emphasis towards quality assurance and safety norms, have also facilitated in augmenting customer interests along with adding value to the services rendered by its supply chain partners offering it with an accelerated degree of competitive advantages. Furthermore, as eBay has been taking considerable measures to contribute to community development, render economic support to common people and operate in alliance with environmental specifications, it can be asserted that its strategic options have indeed been effective to build its sustainable stance within the global retailing industry (Alzheimer's Society, 2014). To be noted in this context, stakeholder management approach taken by eBay is built around the notion of values logics and the value network. Making an exemplary use of its services and resources available, the company has been able to align the various needs of its stakeholders, especially amid its different target customer groups and mediating their demands satisfactorily, which has further rewarded the company with enhanced stakeholder engagement opportunity and advantages (Ballow & et. al., 2004). The various dimensions of eBay’s value approach to stakeholder management can be observed from the diagram illustrated below. Source: (Ballow & et. al., 2004) Leadership The strategic options taken by eBay in its regular operations have also influenced its leadership practice, which has further contributed to its sustainable stance within the business environment. Effective leadership execution has certainly provided the company with a new leverage in the midst of the increasingly fierce competition. Notably, the organisational culture followed in eBay pays utmost attention towards maintaining equality and transparency in every field of its operations. It is through this mechanism that the company has been able to preserve its employees’ satisfaction level along with that of its stakeholders. The company understand that being in the services industry, maintaining a high degree of satisfaction amid employees to quite essential to facilitate better productivity and customer retention in the long run (Mason, 2012). Undoubtedly, its organisational culture has played a major role in shaping its competitive strategies, helping alignment of its internal and external business operations (Ye & et. al., 2008). Culture of eBay Business ethics and corporate codes are vital for the sustainability of any organisation, which can be found as evident in the organisational culture practiced in eBay. eBay, in its organisational practices, endures certain codes of ethics and core values to encourage trustworthiness amid its employees and customers within every hierarchical level of the organisational structure and in every market segment. Where, customer preference is the first priority for the company, the company is also aimed to recognize as well as respect every individual within its workplace. The company also engages in pioneering various new communities with a motive to build trade relations on the basis of trust. Furthermore, the company engages in the continuous development of the corporate culture to maintain sustainability in the global context, which altogether influences its competitive strategies and thus, determine its global sustainability position (Schuetz & et. al., 2013). Innovation Innovation in eBay has been a key success driver for the company’s sustainability and competitive positioning. Certainly, being a technology led company, eBay has an added advantage with respect to innovation and technological advancements (Copeland, 2013). eBay’s creation of the mobile application reflects its innovation strategies that has given the company a new leverage in the competitive market scenario. eBay’s acquisition of Skype also reflects about the company’s innovative strategies that enables the online users of Skype to engage in voice call (Donahoe, n.d.). This further helped shaping the company’s competitive strategies with greater focus to technology innovation and rapid diversification to ensure better returns on investment. 3 Recommendations for eBay To Maintain Sustainability in the Market 1st Recommendation: Based on the key findings obtained from the above study, it can be apparently observed that the level of rivalry and competition is increasing rapidly amid the e-commerce organisations, the impact of which is also observable in the context of eBay. Rising threats of mergers and acquisitions amid traditional retailers and new entrants, high scope of service diversification and augmenting consumer awareness of the services have been few of the major inputs in intensifying competition faced by eBay. To resolve these challenges and gain better competitive advantages in terms of market share against its major rival Amazon.com and other currently rising e-retail companies, eBay can opt for the acquisition of Alibaba Group Holding Ltd., one of its major rivals. Currently, functioning as a hybrid of e-retailers such as eBay and traditional retail forms, Alibaba has gained momentum in its market size to a considerable extent becoming a noteworthy threat for eBay. Currently, Alibaba is capable of offering huge market share in the Asian region and therefore, acquisition of the company by eBay shall reward it with an increase in its competitive position in the global market within a short-run. However, acquiring Alibaba shall be challenging for eBay as the organisation is observed to be growing in its size rapidly and is even marked to equal or surpass the size of eBay (Osawa, 2014). It is thus suggestible that a well-though strategy is applied by eBay when acquiring Alibaba emphasising the potential advantages. 2nd Recommendation: Drawing inferences from the above recommendation to acquire Alibaba, one of its top competitors in the Asian market, it can be stated that eBay currently can opt for two strategic options, i.e. either to go global with its continuing effort or return to China again, after its failure through the acquisition. Undoubtedly, the acquisition will be a fruitful option for the company to return to China with a strengthened foothold. However, it shall also pose a noteworthy challenge to the company, as the acquisition shall be quite cost consuming considering the size of Alibaba currently recorded (Wang, 2010). Nonetheless, when considering the business environment in China, a merger or an acquisition shall be the most effective strategy to penetrate the market, which will be effective for eBay too, if successful in acquiring the leading e-retail business in China, i.e. Alibaba. It is in this context that after considering the global market scenario, it is suggestible that eBay restrains from penetrating China again at this current moment, rather focusing on techniques to gain competitive advantages over Alibaba by capturing the other global market around the world. For instance, going international eBay can penetrate the currently peaking e-retail markets like Brazil, Uruguay, Botswana and Oman, which shall be helpful to increase its market size in the near future (A.T.Kearney, 2012). With these markets already captured, it is expected that the further growth of Alibaba in the global market will be obstructed and eBay shall have a major competitive advantage in penetrating China through merger. 3rd Recommendation: eBay, being a e-commerce network, is quite likely to face extensive complexities in its operations. In the recent scenario, the demand for the ecommerce has seen its greatest heights. With such augmentations in the demand for ecommerce benefits in the retail industry within the global platform along with lowered barriers to entry and exit, it is quite likely that rise in new entrants will be evident in the upcoming years. To overcome such challenges in future, eBay should emphasise differentiating its brand name among other competitors. As discussion in A.T.Kearney (2013), eBay can be identified as participating in the established and growing market segment of the online retail industry. Correspondingly, as competitive position in this market segment is determined on the basis of innovations, better alignment with consumer purchase behaviour and customer expectations with regards to the pre-purchase delivery services, eBay should focus on differentiating itself by applying the strategic option of market development at a larger scale. Alignment with renowned technology groups shall also facilitate eBay in obtaining competitive advantages, increasing its strategic capability to deliver safer and a more convenient shopping experience to its consumers. In addition, eBay should also be focused on enhancing its rarity and non-substitutability within the current market scenario to yield better sustainability and competitive advantages. Conclusions The overall study provided an overview about eBay’s involvement in various activities to maintain its sustainability in the competitive market scenario. Although the study reveals that eBay has been competitive enough in attaining and preserving its competitive position within the increasingly competitive scenario of the current market, it is likely that challenges in the near future shall hinder its market presence subjected to the application of effective strategic options. Correspondingly, apart from delivering importance to rapid innovation, market development and building strategic alliances with supporting industry players, such as the renowned technology companies to gain customers’ trustworthiness and preference. References Ahoy, C., 1998. Strategic Planning. FP&M World Class Journey. Alzheimer's Society, 2014. eBay for Alzheimer's Society. Documents. [Online] Available at: http://articles.economictimes.indiatimes.com/2013-10-15/news/43068552_1_marketplaces-flipkart-onlinehttp://www.alzheimers.org.uk/site/scripts/documents_info.php?documentID=1223 [Accessed April 16, 2014]. Ansoff, H. I., 1965. Corporate Strategy. McGraw-Hill. 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