Developing Potentially Highly Profitable New Systems Technologies Essay

Developing Potentially Highly Profitable New Systems Technologies - Essay Example The new technology is emerged in business for improvement for buyer’s access to the important and critical information. The advantages and disadvantages of the competitors that already have adopted the new technologies are observed and important factors are taken from it. The success rate for adding new technologies into business is critically viewed from other companies. The success factors are in both forms like tangible and intangible benefits, so measuring intangible benefits are harder and some time results are long term like improvement in operational efficiency, the improvement of decision making of customer. (Turban and Volonino). Electronic Business (E-business) Electronic business (E-business) is a business done through the online network and internet. It provides channels among customers, supply chain partners, employees and other concerned persons. The firm needs to develop the e-business as a new technology. The performance measures like incentives and different o perating models are applied for promoting the business. (Turban, Volonino and Wood, 157) The basic demand of e-business is to maintain the website regularly. The business-to-business (B2B) sites may have many weak points that must resolve for getting improved performance of the e-business. By following such important factors and by focusing the performance measures make a positive impact of the e-business and also the firm gets benefited through it. The emergence of information technology improved the productivity of the products in firm. The demands of consumers are fulfilled according and through ease, so it is also important to make the e-business fully secure and reliable (Turban and Volonino). The intangible benefits for a multinational firm are the soft profits it takes from website. The accuracy and quick response not only for Web servers but also the software of e-commerce and databases need to respond quickly. The less web issues promote the business to success and results in customer satisfaction, which is great intangible profit for the multinational firm. It also provides tangible results for the multinational firm, when customers are more satisfied with e-business and easily and quickly perform the business tasks. (Turban and Volonino163) Fig.1 E-commerce Model (Source: Turban, Volonino and Wood, 166) The e-business promotes the business to success, and both tangible and intangible profits are shown in the firm. By following the models like B2C and G2C and many other strategies, a business can grow and enhance the productivity. These models are known as business markets that provide success to the business (Turban, Volonino and Wood, 156). The B2C market covers the national and international market, the buyers and sellers are organizations. So it is also called e-tailing (electronic retailing). Another market named C2B that is consumer based market and covers the consumer that purchases the products from firm. G2C is the market work among Governme nt-to-citizens this market provides services from Government agencies to the local citizens. And the business-to-Government market sells different types of products and also provides services to the government agencies (Hubbard). Funding of a Project and convincing the senior management Most of the companies shape product process development through the information technology. Increased productivity and quality improvement have been seen with the adaption of the new technology. Many of the manufacturing companies find it a methodology for the faster product development cycles, high level quality products and shorter production schedules. Justification of advantages of new technology before senior management is about economic issues and related advantages. The view is to cut the cross