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Q1. Porter’s value chain of any firm mainly consists of two types of activities: Primary activities and Support activities. Primary activities include: Inbound logistics, Operations, Outbound logistics, Marketing and Sales, and After sales services. Support activities include: Firm Infrastructure, Human Resource Management, Technology Development, and Procurement. Consider two primary activities and two support activities and discuss some key applications of the Internet in the value chain. (minimum 1.5 page) (25 points)
Q2. What do you understand by Smart Connected Products? Porter’s five force model for competitive advantage consists of Threat of new entrants/Barriers to entry, Bargaining power of buyers, Threat of substitute products or services, Bargaining power of suppliers, and rivalry among competitors. Consider any three of these forces and discuss how smart connected products can reshape the industry structure? (minimum 1.5 page) (25 points)
Q3. Give a detailed description of the key elements of a successful business model as discussed by Johnson, Christensen, and Kagermann in the article “Reinventing Your Business Model.” (minimum 1.5 page) (20 points)