Future of business Essay
Globalization and technology progresses have indication that the strength of business to benefit people is better than previous. At this moment, businesses are being needed to receive more responsibility in the improvement of peoples in which they operate. It comprises investing in human capital maturity and making further opportunities for development. Industry is changing, and people need to change correctly with it. People need to be conscious of the changes in the global market. Furthermore, people should learn how those changes would influence them.
II. Internet and Its Impact on Economy
The advancement of Internet technology has influenced the ways people communicate at work, at home, and in neighborhood since all communications can be conducted without the need to perform face-to-face meeting. Simultaneously, Internet has an effect on the implementation of the economy and the people’s standard of living. By having an essential impact on the performance of the economy, Internet extensively raise productivity and improve the wealth of peoples. Eventually, great use of the Internet generates an important prospective for rising efficiency and increasing the level of comfort (“Influencing policy in ICTs for development”, 2006).
Internet has the capability to enhance productivity growth. Extensively, Internet is decreasing the
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Due to the vast benefits of Internet, we witness that Internet has huge impacts to all types of businesses such as transportation, consulting, and retailers. In transportation, consumers can buy ticket without the need to visit a travel agent; consulting where customers can brose for information about the expertise of particular consultants, and retailers since they can provide information about new offering and make online transaction.
Concerning the retailers business, to be specific, we can pick real-life examples about how they take benefits of Internet to boost the sales. In the movie-rental industry, for instances, Blockbuster.com is one of website that offers and sells new and used videotapes, video games, as well as DVDs and movie soundtracks. Blockbuster.com provides customer management solution that gives customers immediate assistance through any step of the online buying process, through multiple media, including phone, e-mail and fax (“About Blockbuster.com”, 2006).
Similarly, Amazon.com, the pioneer of online sales, also shows that Internet can be a worldwide showcase so that customers can see the products they intend to buy before deciding to buy them. The success of online sales has driven the company to evolve as the most successful online retailers selling music CD’s, cookware, toys and games, tools and hardware. By selling throughout the Internet, the company experiences a fast growing revenue from merely $150 million in 1997 into $3.1 billion in 2001 (Khrisnamurthy, 2002).
At eBay, Internet also helps business to speed up since the company enables its users to trade their apparels and cool collectibles to quirky office accessories with that unique eBay flair. They also warn customers to keep an eye out for exciting new collectibles and other popular items that eBay team will be adding frequently to the store.
III. Types of Companies and the aging of the American population
People are used to living in a society of instant solutions. People want everything that can make them satisfied by consuming something that relating with their need such as health, entertainment, money, and sex. People want pleasure seeking and self-satisfaction.
Nowadays, the economic effects of successful anti-aging industry significantly are noticeable. It means that financial support for the research has become unlimited. The anti-aging innovation is bringing benefit to the living of most people in the present day. Anti-aging industry move forward together with many new biotechnology companies. People know that it is hard to extend life span greatly unless they slow down aging itself. As a result, the anti-aging industry is expected can bring benefit for the aging peoples (“Seven Secrets of Anti-Aging”, 2005).
For aging population, the most important thing in their life is about health. The aging population wants to be continuously healthy and they will do anything to get better life quality. Beside anti-aging products, pharmaceutical companies get benefits from the aging of Americans population because they are the main users of prescriptions drugs. Beside, the hospital industry is a standard service sector for unhealthy aging peoples (“Seven Secrets of Anti-Aging”, 2005).
Pharmaceutical companies such as ASN, BioSynergy, and Lumina, serve people by develops, manufactures, and markets, a broad assortment of brand and generic pharmaceutical products. Pharmaceutical companies usually sells many brand product lines including more than a few that hold most important market positions. With more than a dozen brand products in many stages of development, From time to time, Research and development of products’ brand at Pharmaceutical Company is stronger than ever before (Zelman, William, 2003).
ASN, for example, stays on the top list of anti-aging products by delivering several products like ASN’s Enhanced DHEA, which is believed to have capability in enhancing Bioavailability. Similarly, Lumina Cellfood DNA-RNA also launches anti-aging products like Cell Regeneration Formula that capable of producing life- and longevity-enhancing effects.
IV. Companies that will prosper in the future
With the aim of prosper into the future, global companies must play a part in solving the concerns that the world challenges today. Industry must reconstruct assurance by representing that its awareness are aligned with the people all together, while struggling with the daily preferences in the process of management a global companies. Industries in the future are expected can present handy assistance and new approaching into how companies may deal with these challenges. This analysis will be the main study to analyze all the fundamental conditions for success in the global companies in the future (“Built to Grow and Prosper”, 2006).
I think company that will prosper in the future is companies that operate in health industry. Because health is always be an important part of human life and surely in the future. For example, holders in the health care, hospital, pharmaceutical company, or fitness industry should improve their facilities to survive in the middle of business competition and to prosper into the future. Consequently, the company’s planning must have effect earlier than offering a facility, applying a service or enhancing a customer service (“Learning from the future”, 2006).
Some examples of companies in pharmaceutical industry that continues prospering is Biogen IDEC, a new company resulting from a multi-billion merger between Biogen Inc. and IDEC Pharmaceuticals in June 2003 to from the third largest biotech corporation in the world, Biogen IDEC Inc. Similarly, several pharmaceutical companies also flourishing such as Johnson & Johnson, Bristol Myers-Squibb Company, Ali Lily and Company and The Procter & Gamble Company.
In addition to health industry, the industry that will prosper in the future is information technology (IT)-related business such as content providers or software developer since this industry provides improved people’s lifestyle (“Learning from the future”, 2006). It becomes primary needs for people to accomplish their business. In short, successful companies need to have strong group dynamics. Successful companies should have a sense of control, optimism about the future, group steadiness and enthusiasm to take risks (Zelman, William, 2003).
Some IT companies that continues strong growth includes Microsoft (www.microsoft.com) that dominates the operating systems’ SAP AG (www.sap.com), a German-based company that develop powerful software for corporations in managing their resources, and EDS (www.eds.com) that develops value added service of IT network.
V. Good customers for American products
Countries that are the most likely to become good customers for American products should understanding the market includes understanding more than a few important examinations about business relationships with the United States, and the economic, political, and social characteristics of the countries can structure this market.
The country’s market should important to many States. It shows a movement of cargo through exports or imports actively. The countries usually have strong economic ties to another country. Their market is important to a large number of States (“Freight Transportation: The Latin American Market”, 2005).
The countries should have adopted trade strategies aimed at increasing its importance in their national economies, for example, in the exports sector. They are positioning United States as major trading partners. These countries should represent the most appealing consumer market for trade (“Freight Transportation: The Latin American Market”, 2005).
Although many developing countries usually face economic and political uncertainties for years, but to be a good customers for American products they should show an economic performance higher than many other parts of the world in the future. Moreover, they should have constitution that not in the contrary to the American’s constitution. The countries should be growing significantly over the years, both in private business and public infrastructure (“Freight Transportation: The Latin American Market”, 2005).
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eBay: Last Man Standing. (2002). Retrieved November 21, 2006 from http://news.com.com/2009-1017-887630.html
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Khrisnamurthy, Sandeep. 2002 Case #1. Retrieved November 21, 2006 from swlearning.com/…/first_edition/case_updates/amazon_final.pdf
Learning from the future. (2006). Retrieved November 18, 2006 from http://www.sbs.ox.ac.uk/news/archives/Executive
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Zelman, William. (2003). Financial management of health care organizations. Blackwell Publishers.