Describe How E-Markets are redefining organizations Essay
Every time new technologies are created, businesses are on the forefront in determining how these can be utilized to increase the efficiency of conducting business and therefore profits. The advent of internet technologies has to a large extent revolutionized organizational structures and operational structures. The internet revolution has greatly increased the ease with which organizational information can be transmitted from one place to another, all throughout the world. Be it within an organization or from an organization to its client base, the internet has transformed the process of doing business.
Organizations have been offered unprecedented opportunities to re-think and transform their business models, processes’ and relationships in a manner that increases their chances of remaining profitable in a highly competitive environment. In this essay, the author discusses how e-markets have been responsible for redefining organizations. Organizations which have embraced e-markets have, first of all, been able to radically change their supply chain and procurement procedures (Schnure, 2007). The level of communication between suppliers, retailers and manufacturers of goods and services has been greatly enhanced.
Consequently, the cost of doing business has been significantly reduced since the cost of coordinating between the various parties which participate in a business endeavor has been greatly
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However, e-marketing has greatly increased the efficiency of product marketing by organizations. Product and service information and pricing can now be directly transmitted to customers from all over the world in a manner that is both rich of all information required and also interactive (Sawyer, & Salazar, 2007). Many organizations have therefore been forced to re-think and modify their structures so as to reach new markets. As a result, organizations which have been operating on a wider scale with near-monopolistic advantages are at an increasing risk of losing their market niches to upcoming entrants.
Focus has therefore been laid on beating competition emerging from already secured markets as well as in acquiring new markets. E-markets have enabled imposed an ultimatum to many organizations to change so as to be compatible with the emerging technologies (Sawyer, & Salazar, 2007). In fact, the process has been as Charles Darwin stipulated: to survive the onslaught of emerging technologies, companies have had to learn quickly and adapt, entrenching these technologies into their operations on a broad scale so as to remain competitive.
E-markets have therefore offered organizations with the incentive to experiment in new products and services as well as business models, creating the need for strategic as well as structural changes (Sawyer, & Salazar, 2007). With these changes comes an overhaul of the processes that have been used to conduct business in the traditional context and a corresponding metamorphosis into entirely new operational structures. E-markets are in essence new technologies, and the implementation of new technologies creates the need for new structures and approaches business in business (Whinston, Strader, Blanning, & Shaw, 2000).
For example, the traditional methodologies of marketing products and services I have stated above follow rigid structures in contrast with the flexibility offered by e-markets. The structures of organizational units dealing with marketing will need to be transformed to some degree if the organization is in a period of transition from traditional (or conventional) markets to e-markets (Whinston, Strader, Blanning, & Shaw, 2000).
New processes and approaches need to be put in place and so do new measurements of success and project viability. E-markets have radically transformed the nature of work and the process of talent procurement and maintenance. They have increased competition in the global marketplace and organizations have had to reduce their numbers of staff to just the core essentials; any other labor requirement is most likely remotely outsourced (Whinston, Strader, Blanning, & Shaw, 2000).
These changes have created an upheaval in the labor markets and new opportunities as well. Organizations are consequently forced to restructure themselves as new risks emerge and new perspectives are required while thinking about human resource and compensation terms. Workers in the new dispensation will need to be very flexible as the technology powering e-markets continues to evolve (Whinston, Strader, Blanning, & Shaw, 2000).
Those with the need to secure permanent jobs in the traditional sense will need to develop the capacity to adapt to rapidly evolving technologies and many more will be forced to work from home. Organizations, while operating under this environment, will have to develop elaborate mechanisms to prize their core workers since they will be the most essential asset for their survival. Organizational structures will need to be reformed to cater for the nurturing of applicable skills and talents.
Finally, the e-market revolution is forcing many organizations to develop new sales models as the traditional marketplace gradually vanishes (Schnure, 2007). Advertising will change from the prevalent mass marketing to direct advertising. The process of receiving customer orders will be more and more based on the online system and the need for salesmen will be no more. On the average, e-markets are redefining organizations from all facets, and full impact is yet to be felt as new technologies continue to penetrate hitherto unreached markets.