E-business to e-development, sustaining entrepreneurship, centripetal momentum, product life cycle, Thailand 4.0, resilience to cyber threats such as ransomware
Cyber-space is a milieu of challenges and opportunities. The proliferation of popular e-portals along with looming ransomware creates the research challenge for this paper. E-based transactions are pervading at all levels of our connected society and needs to be self-sustaining. Given the inherent complexity of e-business models and virtual transaction systems, this paper aims to address the linkage between the product / service offerings in the e-business domain with stages of the product / service life cycle model. The paper addresses the threat gap evoked by vulnerability of cyber security issues such as ransomware, enforcing ‘back to the future’ for reliable pathways for cyber security (Lawerence, et. al. 2017). The purpose of this conceptually grounded work is to assess the diffusion of innovation at introduction, nascency, growth and maturity stages of the product / service life cycle. Diffusion of innovation product – service life cycle literature informs this research and attempts to analyze the life-cycle stage transition using concepts on centripetal momentum.
The Framework Method structures the methodology of this paper, that analyses qualitative data for thematic analysis or qualitative content analysis (Gale, Heath, Cameron, Rashid and Redwood, 2013). There are a number of findings such as (i) the rate of diffusion of innovation and its effect on sustainability, (ii) impact on entrepreneurship to self-sustaining e-business systems. The outcomes are consistent with the Thailand 4.0 initiative, wherein e-business is transcending to the next level to e-development. Thailand 4.0 envisions transformation through creativity and innovation (Honorable Prime Minister of Thailand, 2016). This surge driven by the internet, has the potential to change relationships with customers, suppliers and intermediaries. New relationships evolve into entrepreneurship with incubator networks serving as catalysts (Carayannis and Von Zedtwitz, 2005). Novel revenue streams emerge and new business models are created. This happens when strategy blends with e-business, creating an impact that is far more than mere launching of a website.
E-business trajectory commenced with e-shop, to e-mall, to e-procurement, to e-auction. Current trends are on shared value chains (Hayes and Finnegan, 2005). The dynamics enables entrepreneurship and is transforming the rules of competition. Strategic use of e-business leads to the creation of value-drivers, viz., novelty, lock-in, complementarity, efficiency and excitement. All these parameters are interrelated, and act in unison, though in varied degrees. E-business gives rise to virtual markets where transactions face new challenges. To sustain e-business, value chain analysis should create value in virtual markets. A virtual value chain is a sequence comprising of accessing, organizing, synthesizing and distributing information. E-business thrives on strategic networks as firms, suppliers and customers complement capabilities.
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