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Effects of Electronic Business on Management in the Global Markets - Term Paper Example

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This paper highlights that it will expound on the effects of electronic business on management in the global markets, and an overview of the electronic business foundation. When it comes to the e-business, business people apply technologies to support the overall activities of their business…
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Effects of Electronic Business on Management in the Global Markets
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Download file to see previous pages Evolution of globalization and competition brought about new opportunities coupled with challenges. Firms strived to discover valuable and effectual models and applications of electronic business to contribute to their growth, sustainability, innovation, and implementation. Agreeably, this is an imperative moment for successful inclusion of electronic business into global management society. The explosive growth of the internet and its functions has led to the creation of a network that connects people and businesses globally. It is not possible to ignore the growing importance of electronic business in this light of the prevailing dynamism of technological surroundings. Introduction of electronic commerce revolutionized markets as people can purchase goods and services online (Shaw, 2003). Corporate companies that engage in millions of transactions per annum can now interchange data. Today, electronic business has expanded to include other processes of business transactions that require electronic enhancements. Introduction of these entire internet related activities is posing serious challenges to global management. However, before looking at the opportunities electronic business poses on management globally, it is worth putting down its relevance into writing. Managers categorize electronic business as a major trend in stipulations of investment and awareness. Generally, this does not stand for a megatrend or gig trend. Overly, evaluation of the relevance of electronic business depends on indicators like performance potential. In this phase, the relevance of e-business determines the benefits of its efficiency whereby this involves shifting from the existing business or traditional channels to the internet. The success of electronic business initiative of a company relies heavily on the readiness of suppliers and buyers to engage in electronic interactions. This means that every component of electronic business must align with enabling technology and strategic initiatives. The key managerial system of business trading globally is participation. Nowadays being an industry manager means being the determinant of tomorrow’s success. Therefore, in order to keep a competitive advantage and achieve the determined industrial success, managers of established companies must take on the challenges that come along with applications of electronic business. The electronic business acts as leveraging the importance of using information technology to its limits and changes the employees and administration’s way of thinking and working to a completely different level. Electronic business tools influence the initiatives taken by managers on a global scenario. Certainly, e-business application tools like an intranet, internet, and extranet affect each initiative in the global market (Shaw, 2003). Management integrates these application tools into their overall global initiative to achieve rapid technological strategies that coincide with their information technology strategies.
According to Moodley (2003) with e-business, companies are no longer chained to a specific geographical area but global markets are unfolding and brewing up stiff competition.  Managers are developing effective information technology strategies that can enable their companies to compete effectively in the global market. ...Download file to see next pagesRead More
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