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Trends in Business

The document discusses major trends in business, including the growth of the internet, e-commerce and e-business; the increasing importance of managing technology and supply chains; outsourcing; globalization; agility; and a focus on ethical behavior. It also notes other trends like operations strategy, doing more with fewer resources, revenue management, process analysis and quality improvement, increased regulation, and lean production. Managing technology and the development of new technologies are highlighted as ongoing major trends for business.

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Skylee Morgan
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48 views12 pages

Trends in Business

The document discusses major trends in business, including the growth of the internet, e-commerce and e-business; the increasing importance of managing technology and supply chains; outsourcing; globalization; agility; and a focus on ethical behavior. It also notes other trends like operations strategy, doing more with fewer resources, revenue management, process analysis and quality improvement, increased regulation, and lean production. Managing technology and the development of new technologies are highlighted as ongoing major trends for business.

Uploaded by

Skylee Morgan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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TRENDS IN BUSINESS

The internet, e-commerce, and e-business

Management of technology

Management of supply chains


MAJOR Outsourcing
TRENDS
Globalization

Agility

Ethical behavior
1.INTERNET, E-COMMERCE, AND E-BUSINESS

INTERNET
-Internet offers great potential for business organizations,
but the potential as well as the risks must be clearly
understood in order to determine if and how to exploit this
potential.

E-BUSINESS
-Electronic business or e-business involves the use of the
Internet to transact business.

E-COMMERCE
-Consumer-to-business transactions such as buying online or
requesting information.
TECHNOLOGY
-The application of scientific discoveries to the
development and improvement of goods and services.
-It can involve knowledge, materials, methods, and
equipment.

KINDS OF TECHNOLOGY:
Product and Service Technology –refers to the discovery
and development of new products and services.
Process Technology –refers to methods, procedures, and
equipment used to produce goods and services.
Information Technology (IT) –refers to the science and use
of computers and other electronic equipment to store,
process and send information.
2.MANAGEMENT OF TECHNOLOGY
-Management of technology is high on the list of major trends, and it promises
to be high well into the future.

3. SUPPLY CHAIN MANAGEMENT


-A supply chain is the sequence of activities and organization involved in
producing and delivering a good or service.

FIGURE 1.7 A simple product of supply chain

Suppliers’ Direct Final


Producer Distributor
suppliers suppliers customers
4.OUTSOURCING
-Obtaining a product or service from outside the
organization.
-The full name of the term is outer-source-using,
which means attraction of resources from outside.
-Ex. Accounting, Legal services, Advertising

5.GLOBALIZATION
-Globalization is the process by which businesses
or other organizations develop international
influence or start operating on an international
scale.
6. AGILITY
-The ability of an organization to respond quickly to demands
or opportunities.
-This is particularly important as organizations scramble to
remain competitive and cope with increasingly shorter
product life cycles and strive to achieve shorter development
times for new or improved products and services.

7.ETHICAL BEHAVIOR
-Ethical behavior and conduct is getting increased attention
from management at all levels.
-Many organizations have developed codes of conduct and
ethical standards to guide the behavior of managers and
employees.
OTHER IMPORTANT TRENDS

Operations strategy
Working with fewer resources
Revenue management
Process analysis and improvement, and quality improvement
Increased regulation and product liability issues
Lean production
1.OPERATIONS STRATEGY
-During the 1970s and 1980s, many companies neglected
to include operations strategy in their strategy. Some of
them paid dearly for that neglect. Now more and more
companies are recognizing the importance of operations
strategy on the overall success of their business as well as
the necessity for relating it to their overall business
strategy.

2. WORKING WITH FEWER RESOURCES


-Due to layoffs, corporate downsizing, and general cost
cutting is forcing managers to make trade-off decisions on
resource allocation, and to place increased emphasis on
cost control and productivity improvement.
3.REVENUE MANAGEMENT
-Revenue management is the method used by some
companies to maximize the revenue they receive from fixed
operating capacity by influencing demand through price
manipulation.

4. PROCESS ANALYSIS AND IMPROVEMENT, AND


QUALITY IMPROVEMENT
-Process analysis and improvement includes cost and time
reduction, productivity improvement, process yield
improvement, and quality improvement and increasing
customer satisfaction. This is sometimes referred to as six
sigma process.
5.INCREASED REGULATION AND PRODUCT
LIABILITY ISSUES
-Increased regulation and some very costly product liability
claims have continued to make these issues important
management issues.

6.LEAN PRODUCTION
-A new approach to production, emerged in the 1990s. It
incorporates a number of the recent trends listed here, with
emphasis on quality, flexibility, time reduction, and
teamwork.
-System that uses minimal amounts of resources to produce
a high volume of high-quality goods with some variety.
THANK YOU!!!

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