Business Information System Of Multimedia - Myassignmenthelp.Com

Question: Discuss about the Business Information System Of Multimedia. Answer: Introduction Smart TV is a hybrid TV that is integrated with a traditional television set with an internet connection. This interactive multimedia set has features of Web 2.0 and it can be described as convergence between computers and flat screen television. Smart TV has television features with set top boxes along with additional features of interactive media, internet and OTT (Over-the-top content) (Lee et al. 2013). Smart TV gives the features of home networking access and streaming media. Smart gives the added benefit that it has no traditional remote as it can be connected to a tablet or mobile app. Through mobile, TV's sound, channel, menus can be changed. Smart TV comes with apps where users can watch videos, stream movies and social media network. Smart TV is light in weight and it can easily be installed on the wall. This report will highlight the competitive advantage of Smart TV as well as the security issues regarding this. Porters competitive forces and generic strategies Porters five forces In the Smart TV market, three major players are Lenovo, Dell and HP as these three take up almost 50% market share. Bargaining power of customers: In Smart TV market, the bargaining power of the customers' is low as in grabbing the new technology; customers are willing to pay extra money. However, if other companies offer service quality, extra features on the same price, then customers' power can increase. Bargaining power of suppliers: In case the manufacturers of Smart TV do not manufacture the materials, they need to take help of suppliers from Asia Pacific countries like China, Taiwan and Japan (Shin et al. 2014). These suppliers do not drive up the prices of the products, hence this force is moderate. The threat of new entrants: Barriers of a new entry in the market is high as new electronic companies are entering the market of home entertainment accessories. The new invention is constantly updating the Smart TV and in case of major changes in technology, a new entry can increase in the market. Rivals: Market rivalry is high as the competitors can be Lenovo, Asus, HP, Dell, Samsung and others. Substitutes: Substitutes forces are high as other companies are doing constant research to enter the market with new technology and products. Customers can replace Smart TV with some new technology. In case, the customer cannot purchase Smart TV, they can purchase similar products of laptop, PC or laptop. Porters generic strategies A company's profitability depends on the industry's other major players decision. Generic strategies are important for firm's sustainable competitive advantage. There are two types of strategies that a firm can take, such as low-cost strategy and differentiation strategy. Cost leadership: Manufacturers of Smart TV can manufacture the products in large quantity as this strategy will help to lower the price. The firm can take the average price, if Smart TV already exists in order to gather more profit. In case. The maker of Smart TV wants market share, they can take the strategy of low-pricing (minimum profit margin). In case the market is mature, the price of the product would decline. Cost leadership strategy has strength in accessing the capital investment in an industry as production assets. Efficient manufacturing of Smart TV with adding additional features can bring market share. Moreover, an organisation can give Smart TV in an economical way that enables the firm to be profitable in long run. Differentiation: As stated by Addo et al. (2014), the organisations try to be unique by products features that would be valued by the customers. In Smart TV, the organisations can focus on features, quality, designs and technologies; however, the price is not a factor in this scenario. Loyal customers can pay a high price if the product is premium quality. Choosing best apps for smart TVs For buying a Smart TV, customers can focus on the picture quality of the Smart TV, big screen and apps features. Some of the manufacturers of Smart TV give enabled smart apps and customers can download others if they want through the internet. In order to buy a Smart TV, simply ignore the most of the specifications eventually help the customers and bigger screen (best picture quality) is best for Smart TV as it supports most of the apps. Now TVs are coming with HDR quality with 4K resolution. Moreover, UHD (Ultra High Definition) Smart TVs give more pixels that attract the customers (Sicari et al. 2015). In accessing the apps, manufacturers must release it on Google Play or iTunes. TV developer must have this app which one finding by customers. Users can find the apps on Google store and they can install these on TV. Some of the best apps are iPlayer, All 4, VUDU, HBO Go, Spotify and You Tube. Discussion regarding privacy of Smart TVs Most of the Smart TV developers concerns about the privacy features of Smart TV as most of Smart TV have new technologies which are not secured. Smart TV can record the data and transmit to the third party. The third party can generate the history and data of the users. In this regard, Samsung Smart TV comes with new voice recognition technology that collects the information from the users and sends to the third party. As stated by Lee et al. (2014), digital spying is the new concept that arises with the new Smart TV technologies. Samsung's voice commands are transmitting to the third party and it breaks the rule of the global privacy policy. Moreover, developers are trying to update the firmware in stopping the data transfer to the third party. Security issues in Smart TV and data sharing issue In todays world, it is estimated that 13.4 billion people use the internet connection through mobiles, tablets, broadband or other appliances. Security issues can occur in any internet connected system and Smart TV is not out of this. Avast declared that Vizio Smart TV enabling root access to Smart TVs underlying Linux operating system. Through USB device, the Smart TVs SSID value can be exploited (Addo et al. 2014). Knowing this flaw, hackers can attack any home appliances. This flaw is able to track the users in second-by-second basis and provide demographic details of the users. Reference Addo, I.D., Ahamed, S.I., Yau, S.S. and Buduru, A., 2014, June. A reference architecture for improving security and privacy in Internet of Things applications. InMobile Services (MS), 2014 IEEE International Conference on. 2(1), pp.108-115. Lee, S.H., Sohn, M.K., Kim, D.J., Kim, B. and Kim, H., 2013, January. Smart TV interaction system using face and hand gesture recognition. InConsumer Electronics (ICCE), 2013 IEEE International Conference on. 3(1), pp.173-174 Lee, W.P., Kaoli, C. and Huang, J.Y., 2014. A smart TV system with body-gesture control, tag-based rating and context-aware recommendation.Knowledge-Based Systems,56, pp.167-178. Shin, N., Kraemer, K.L. and Dedrick, J., 2014. Value capture in global production networks: Evidence from the Taiwanese electronics industry.Journal of the Asia Pacific Economy,19(1), pp.74-88. Sicari, S., Rizzardi, A., Grieco, L.A. and Coen-Porisini, A., 2015. Security, privacy and trust in Internet of Things: The road ahead.Computer Networks,76, pp.146-164.