The Future of Business Essay
Discuss and provide examples of the changing factors that will influence business in the future (e. g. , new investment techniques, new forms of communication, new management structure, new technology, or new marketing techniques). Select 2 of the 5 identified factors and explain in detail the factor that was chosen and provide an example. New marketing techniques Green marketing is very important as the problems of environmental protection are essential for all countries all over the world nowadays. The recent researches give us evidences that anxiety concerning nature pollution is increasing.
The ecological security became primary for consumers. Thus, it is high time to reconsider the understanding the nature as our habitat as well as the source of raw materials and provisions which are necessary for our living. The ecological needs, based on necessity to keep safe the habitat and human health, are leading in nowadays society. Marketing directs business attention toward satisfying the requirements of people and at the same time our society becomes more demanding in having a new kind of service.
Human health is the most desirable thing among other usual needs. Many customers are aware of the fact that they should pay attention to the label of the
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Accordingly to the researches, people with high level of education are more flexible to marketing strategies and they realize the necessity to over pay for getting green products. New management structure The realities of modern business are that the effective use of IT makes it possible to move to an entirely new business model which poses at the center of business “the customer”, that is, when the goods are produced at the request of a consumer in accordance with his wishes. It is worth noting that a tendency to adapt the proposal to the requirements of a particular customer is more evident in business at present time.
Thus, the customer has an opportunity to order what he needs, and the manufacturer will produce it. It is possible to characterize the relationships of producers and clients as mutually dependent. This approach to organizing company gives a number of advantages for business. Firstly, there is no problem of marketing the goods, because the products correspond to client’s needs and market. The costs associated with the production, overproduction and storage are reduced. Secondly, it gives the opportunity to meet customer’s needs more precisely.
As an example, it is possible to provide the business of a company Gap (EN), a manufacturer of clothing for a variety of users: the use of IT has enabled it not only to produce garments of nonstandard sizes, through increasing sales, but also to expand into new market sectors. Thirdly, it is the improvement of finance movement. Whereas previously the company spent its own funds on the development of production or creation of new services, now the client frequently plays a role of production creditor; he pays for the goods prior to its production, during the stage of ordering the products.
In other words, the use of the business model oriented at “the customer” becomes possible only when production can respond flexibly to changing customer requirements, which entailed with the emergence of new industry trends and new technologies. However, such an organization requires a careful management of IT: only the company that can efficiently collect, transfer and use information, can actively look for clients, manage demand and respond to emerging business needs (Pride et al. , 34-57).
The uniqueness of the provided services guarantees the competitive advantage of the company in the market. All these factors affect the business plan and the whole business development. In summing up, all these elements are important and require serious consideration before being executed (Pakroo, 22-26). The business plan of the company development should include all these elements, because they will help building a working model of the business. Review any additional ideas that you may have about how future business will work.
In fact, the core of any business plan is based on a specific type of business (Timmons et al. 2004). This model shows how business creates profitability and success in the market. Four factors determine correctly created a business model. Here are four factors that determine a wisely created business model: 1. money; 2. definition of time; 3. competitive advantage; 4. basic skills. Firstly, it is important to think about the source of profitability. At this stage of business development, it is important to define whether the company will offer the products, services or both.
Today the ecological problem is very important in any sphere of our life and the existing data of the problems of environmental protection showed that it is essential of nowadays research. The ecological problems become primary in the minds of consumers. Green marketing is a structural element of management of branch manufacture, can be realized on the basis of linear system when ecological problems are integrated into already existing organizational structure on the basis of expansion of duties of all levels of hierarchy. Give a recommendation of how to implement the factor into the modern business world.
In your memo, be creative and knowledgeable; but most of all, have fun with the assignment. Competitive advantage is another aspect of business development (Strauss, 2005). The business plan should identify what advantage the company will have. The promotion of business depends on the niche in the market that the company will take as well as the certain part of the market that the company will cover. In addition, development of business at the local, national or international level will also affect the company’s development.
The standards of business conduction play a significant role in any company. Thus, management should be supplemented with ecological functions of services and design groups, and also use matrix that makes requirements raise to motivation and stimulation of a management in the system of ecological management, that allows to connect the economic and ecological purposes, does preservation of the environment attractive to manufacture branch as from the position of current benefits, and long-term forecasts.