Stages of The Value Adding Information Process
Businesses implement value-adding information by using the three stages of the Rayport and Sviokla model:
- Visibility—By using information, businesses learn the ability to view physical operations more effectively. This means that the foundation for the virtual value chain is used to co-ordinate the activities of the physical value chain. Furthermore, with the assistance of IT, it is then fully possible to plan, implement, and assess events with greater precision and speed.
- Mirroring capability—Businesses recreate their once-physical activities for virtual by producing a parallel value chain in the marketspace. In other words, the business moves the value-adding activities from the marketplace to the marketspace.
- New customer relationships—Businesses present value to the customer by new means and in new fashions. IT creates value in the marketspace. The new relationship between business and customer is based on IT. This implies that products and services are presented by IT and part of these products and services are in the form of bits.
Read more about this topic: Virtual Value Chain
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