Effects of E-Business on Management in the Global Markets Essay

Effects of E-Business on Management in the Global Markets - Essay Example It uses tools that include online banking solutions, supply chain management software, electronic mail, websites, and web-based customer relationship management. In addition to the outlined e-business foundation, this paper will give a spectrum of the potential performance of electronic business, rang of applications of e-business, as well as innovations and implementations. Evolution of E-business on Management 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 internet and its functions has led to creation of a network that connects people and businesses globally. It is not possible to ignore the growing importance of el ectronic 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 are posing serious challenges on 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 mega trend or gig trend. Overly, evaluation of 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 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. Importance of E-business in the Global Markets and Its Effects on Management The key managerial system of a 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. Electronic business acts as a leveraging 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 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

MBA-Marketing Management Essay Example | Topics and Well Written Essays - 5250 words

MBA-Marketing Management - Essay Example Hong Kong Dollar is the main currency within the land and it is one of the leading financial centers globally. Current Marketing Communications Strategy within Hong Kong The current marketing communications strategy employed by Hong Kong to entice tourists include the fact that there are memorable tourist attractions, which include the likes of the Giant Buddha, the Victoria Harbor and The Peak to name a few. Hong Kong is especially renowned for its cultural and heritage activities, the museums, the grandeur architecture, the prominent outdoors and the dining and shopping luxuries which are a symbol of its tourist excellence (Stabler 1997). The marketing communication strategy within the land is such that people throng to visit Hong Kong from different parts of the world in all the 12 months of the year. This is one of the reasons why Hong Kong is remarked as a haven for the tourists when they want to enjoy the luxuries that might not be available elsewhere. The current marketing com munications strategy coined by the Hong Kong Tourism Board centers on the premise of cultural exchange, creating the tourism market, bringing in rich foreign exchange and thus building long-lasting exchanges and relationships all this while. Hong Kong is a place that shall be the cornerstone of success in terms of tourism in the days to come undoubtedly (Meyer 2000). The diversity is there for the taking as is understood by the domains of the Hong Kong Tourism Board which is a government-subvented body that has the responsibility to market and promote Hong Kong as a place for tourism and to improve the visitors’ experience when they visit this place (Miller 2007). The Hong Kong Tourism Board makes sure that the latest promotional activities within Hong Kong are discussed at length, and plays its due role at organizing different recreational programmes so as to facilitate and sustain close links with the local publics and community groups. Role of the Hong Kong Tourism Board T he Hong Kong Tourism Board guarantees that the community has a very significant role within the linkage of the tourists who come from different parts of the world. This has been manifested in the form of different sessions with Rotarians, the overseas and local media teams that race down the harbor, the Dragon Boat Carnival for a summer vacation package, a volunteer recruiting program by the name of the ‘Hong Kong Pals’, and so on. The different marketing strategies for the sake of promoting Hong Kong within the tourists are also discussed from time to time in a number of seminars and events. Similarly, the Hong Kong Courtesy Ambassadors are also appointed from time to time. There are also sessions and community programs for ethnic minorities and youngsters on the event of the Chinese New Year and the parade that happens every year on this occasion. Mr. Anthony Lau who is the Executive Director of the Hong Kong Tourism Board believes that Hong Kong is a world class dest ination for travelers all over the world and opines that the experience of traveling gained by the tourists when they frequent Hong Kong is unmatched and has no parallels. He believes that there have been giant strides into making Hong Kong one of the most sought after places on earth and a haven for the tourists who believe they should visit a place that best satisfies their soothing needs of nature