According to Yan (2010), the
complex business environment is seen as multidimensional, with numerous and
differentiated effects on various organizational characteristics and processes.
Therefore, the business environment should altered aligning with the worldwide
changes to increase competitiveness.
Firstly, the major development that has
significantly impacted business has been globalization. Faster methods of
transportation, together with instantaneous information, have allowed the world
to become one giant marketplace. Consumers can now buy products from foreign
firms as easily as they can from a local store. (Albrecht and Sack, 2000) I see that the advanced technology that have been invented nowadays enable people easily access to the business around the world with just a finger tip.
According to Khanore,
Patil and Dand
(2011), many of the industrial powers are being transformed from
industrial economies to knowledge-and information-based service economies,
whereas manufacturing has been moving to lower-wage countries. In a knowledge-and
information-based economy, knowledge and information are key ingredients in
creating wealth. In today’s society, I found that people realize the importance
of knowledge and they further their studies in higher education in order to
find a better job instead of working as a worker in factory or farms.
Besides, transformation of the business enterprise
also altered the business environment. The traditional business firm was a
hierarchical, centralized, structured arrangement of specialists who typically
relied on a fixed set of standard operating procedures to deliver a
mass-produced product. The new style of business firm is a flattened,
decentralized, flexible arrangement of generalists who rely on nearly instant
information to deliver mass- customized products and services uniquely suited
to specific markets or customers. (Khanore, Patil and Dand, 2011) I see that it
may be aimed to save time and cost of the company.
Lastly, there is a change in emergence of the
digital firm. According to Laudon (2006), a digital firm is one where nearly
all of the organization's significant business relationships with customers,
suppliers, and employees are digitally enabled and mediated. In my opinion,
digital firm not only can increase the profit of the company, but it also makes
people more convenient in buying a product or service.
References:
1. Laudon,
K. & Laudon, J. (2006), Management
Information Systems: Managing the Digital Firm
2.
W. Steve
AlbrechtAccounting education: Charting the course through a
perilous future
3.
Prof. Sheetal Khanore, Prof.
Rajendra Patil and Prof. Hiren Dand (2011), Management Information System
4. Shigang
Yan (2010), Competitive Strategy and Business Environment: The Case of Small
Enterprises in China
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