Coursework: Technological Opportunities and Threats

This coursework addresses the opportunities and threats of technology for businesses, analyzing its strengths and weaknesses using the Balanced Scorecard framework. It then delves into value creation and delivery through Porter’s value chain and Rayport & Sviokla’s virtual value chain. Finally, it emphasizes proper academic writing style and referencing.

Task 1: Opportunities, Threats, and Balanced Scorecard Analysis (45 marks)

1.1 Opportunities:

• Increased Efficiency and Productivity: Technology automates tasks, improves communication, and facilitates data analysis, leading to higher output and lower costs.
• Enhanced Innovation and Product Development: Technology helps design, prototype, and test new products faster and more effectively.
• Improved Customer Service: Technology allows for 24/7 customer support, personalized experiences, and efficient feedback mechanisms.
• Global Market Reach: Technology enables businesses to connect with customers and partners worldwide, expanding market reach.
• Data-Driven Decision Making: Technology provides access to vast amounts of data, allowing for informed business decisions based on insights and trends.

1.2 Threats:

• Cybersecurity Risks: Data breaches, malware attacks, and system disruptions can cause financial losses and reputational damage.
• Job Displacement: Automation may lead to job losses in certain sectors, requiring workforce retraining and adaptation.
• Digital Divide: Unequal access to technology can create disadvantages for some businesses and individuals.
• Privacy Concerns: Data collection and usage raise privacy issues and require ethical considerations.
• Rapid Technological Change: Businesses need to adapt quickly to stay competitive in a fast-evolving technological landscape.

1.3 Balanced Scorecard Analysis:

The Balanced Scorecard (BSC) translates strategy into measurable objectives across four perspectives: Financial, Customer, Internal Process, and Learning & Growth. By using the BSC, we can assess the strengths and weaknesses of technology:

• Strengths: Technology can improve financial performance through cost reduction and increased revenue. It can enhance customer satisfaction through better service and innovative products.
• Weaknesses: High initial investments in technology, cybersecurity vulnerabilities, and lack of employee training can hinder business performance.

Task 2: Value Chain Analysis (45 marks)

2.1 Porter’s Value Chain:

Porter’s value chain identifies primary and support activities where value is created for customers. Technology affects each stage:

• Primary Activities: Technology streamlines inbound logistics (e.g., automated inventory management), improves operations (e.g., robotics), enhances outbound logistics (e.g., faster delivery), strengthens marketing and sales (e.g., targeted online advertising), and provides better customer service (e.g., online chatbots).
• Support Activities: Technology facilitates infrastructure development (e.g., cloud computing), human resource management (e.g., online training platforms), technology development (e.g., research & development software), and procurement (e.g., online marketplaces).

2.2 Rayport & Sviokla’s Virtual Value Chain:

This model focuses on information technology and its role in creating customer value. It proposes three flows:

• Physical Product Flow: Technology can optimize physical product movement through supply chain management and logistics systems.
• Service Flow: Technology enables online services, customer support portals, and personalized experiences.
• Information Flow: Technology facilitates data exchange between customers, partners, and internal systems, allowing for informed decision-making.

Task 3: Academic Writing (10 marks)

This coursework emphasizes proper academic writing, including:

• Formal style and tone: Avoiding informal language and using appropriate vocabulary.
• Structure: Introduction, clear arguments, logical flow, and conclusion.
• Grammar, syntax, punctuation, and spelling: Ensuring accuracy and clarity.
• In-text citations and references: Using the Harvard referencing system for proper attribution of sources.