Paul A. Argenti highlights ‘The Changing Environment of Business’ in the first chapter of his text Coporate Communication.This change has been influenced by consumer confidence, technology and competition. Businesses are forced to not only recognize these changes but be flexible enough to adapt and prosper based on the new parameters of the business environment.
Perhaps the most dramatic impact, particularly in recent years, was the technological innovation and implementation that have provided businesses a competitive advantage over their rivals who have not effectively utilized such advancements.
This technologically rich era has led to what Canadian philosopher Marshall McLuhan envisioned some time ago, a “Global Village.” This term is used to describe a planet that shares knowledge via an electronic connection.
As many of us move through each day we are faced with numerous such examples but given their availability and affordability, particularly in developed nations, we often take them for granted and forget what life before the techno boom was like.
While working as a marketing intern, I was required to utilize one such tool. To facilitate better company communication, all employee cell phones were e-mail compatible. Having adapted to the speed of the modern work world, the company was able to achieve goals at a faster pace. If an employee was on the road, they still had access to their account. With this, they were able to not only read important e-mails they were receiving in real time but also had the ability to respond.
Countless time the willingness to be flexible aided the company in moving forward when the absence of such technology would have greatly reduced the speed and efficiency of project completion. By recognizing and incorporating this tool the company was able to gain a competitive advantage over its competitors that were either unaware or too rigid to reap the benefits.
This technology is certainly not the end of the revolution. Often limited by the capability of the cell service provider some cell customers are unable to send/receive e-mail. One new venture aims to provide e-mail service to more basic, non PDA mobile devices. This video highlights the progression that will inevitably take place as the nature of competition heats up.
I couldn't agree more. In any business there is going to be competitors and competition for top of the line technology. In my real life example, the contract I work on for the Air Force has an automated purchasing process that is done completely with the press of a button or the dock of the scanner and is processed in real time. This is an easy way to communicate with customers and vendors when they can see the process being done right from their own computers.
ReplyDeleteI agree with Brendan's point regarding the importance of staying current with technology to create a more efficient, flexible, and ultimately more profitable business. I think it should also be noted that technology plays a substantive role in reaching and attracting customers.
ReplyDeleteWhile working as an intern for a publishing company one of my task was to create a more effective way of allowing customers to submit orders online. The goal was to create a system that completely automated the process from ordering through shipping. The publishing company had noticed the importance and need for updating their technology because they had noticed a drop-off in customers who were switching to a competitor who offered similar services to those I was working to implement.
I agree, technological innovation provides a competitive advantage over rivals who do not effectively utilize such advancements.This experience was evident to me during my internship with Enterprise Rent-a-Car. Enterprise recently acquired two smaller rental car groups and later implemented a system that would allow them to share the company's car fleet across the entire organization. This enabled branches to acquire vehicles more readily and in all essence be able to service customers much better.
ReplyDeletehttp://www.enterprise.com/fleets/Home.action
The business environment is ever changing, as aforementioned by Brendan. Probably one of the most important aspects of living with the changing business environment is our ability to adapt. Quick adaptation to change is key to the success of individuals and companies. I will use the current economy and my experience in the sport world to explain.
ReplyDeleteAs an undergrad student I worked in a relatively successful athletics department. We had more luxuries than most schools on our level, as in better facilities, better supplies, and more leniency when it came leasure time and free spending with our athletes. At the beginning of my college career business was booming as usual and we had very few limitations on purchasing things needed for our sports teams. However, with the economy in shambles budget cuts had to be made across the board. I guess this was kind of like taking candy from a baby. When coaches, who by the way, may be some of the most tough minded individuals known to man, are told that they cannot buy their new jerseys, have to operate the season minus a graduate assistant, or not enable the teams stay at a luxury hotel leads to tension among everyone involved. Although the situation is still poor, many of the coaches have taken these cuts in stride found alternative ways of continuing their successful program.
What I'm trying to say is that the business world changes constantly sometimes for better, sometimes for worse. Being able to adapt to the changes makes us more well-rounded and enhances our abilities to stretch things and as well as finding alternative methods to make operations go smoothly.
Below is an article explaining some of the hardships other schools are facing in this changing environment in sport business.
http://sports.espn.go.com/ncaa/columns/story?columnist=schlabach_mark&id=4314195
It is extremely crucial to stay up to date in the business world. Even if you have been successful in the past, it does not mean your companys way of conducting business will work in the future. Some companies become stubborn and want to keep things "old fashioned". This will kill the growth of your company and possibly even take it under.
ReplyDeleteWhile working for Dick's Sporting Goods, I was part of a product ordering transition which was beneficial to both the customer and the company. In the past, customers were limited to what the store had in their inventory for sporting goods and apparel. They would either have to go to another store or go home and order the product on the internet. Dick's Sporting Goods implemented a system in their stores in which the associate can order the exact product that the customer is looking for to ensure the customer is getting the correct product. The system also allows the associate to locate the product if it is available at a store close to the customer. The customer is able to enter their credit card information in the store and the item is being prepared for shipment before the customer returns to their home. This process helps the company by increasing sales that they may have lost to a competitor. Also, this system cuts down on the amount of time that the customer is waiting for their item. The individual can also be fitted for equipment to ensure that they are wearing the correct size.
The business world is a fast paced environment and companies need to keep up with the consumer living the fast paced life.
I have included a link of the American Airlines Iphone app which helps the business individual who is pressed for time. It allows you to book a flight and check in just to name a few.
http://www.apple.com/webapps/travel/americanairlinesiphonewebapp.html
Also, here is my link:
ReplyDeletehttp://www.von.com/articles/financial-news/communications-changing-business-environment.html