Components of Commercial Value Chain
February 12, 2025
China has seen rapid development in the past two or three decades. It has become the export powerhouse of the world. However, Chinese companies were always considered to be the cheap imitators. Chinese companies were earlier contractors for American and European countries who provided cheap labor to assemble their high tech products. However, this has […]
Urbanization and its Problems for Corporates The world is increasingly being urbanized and this has implications for the corporate sector and the managerial class. To start with, with more and more companies being located in urban areas, the corporate sector has to deal with the problems associated with urbanization like lack of access to basic […]
Introduction For an organization to succeed in the global and competitive world, it needs to have a robust strategic plan in place. The strategic plan is made of several definite targets it aspires to achieve. Some of the targets are internal (Productivity improvement, sound finance discipline, etc.) as well as external (EPS, Stockholder value, etc.). […]
Imagine that you are running a small scale organization and have been in business for over five years. You have managed to streamline all processes online including purchasing, payroll, invoicing and accounting etc. It is quite likely that you will not have paid any thought to taking backup of your data on systems. Even if […]
We All Know What Offshoring Is! But, Do We Know What Near Shoring and Friend Shoring Mean? The term Offshoring is well known for business and management professionals. It denotes the practice of locating manufacturing facilities outside the home country of firms for cost related or efficiency related reasons. Offshoring can also entail the practice […]
The last decade has shown rapid development in the information technology and its application. This has helped changed the way we look at the world as well as the way business is conducted. Both business and trade have gained under the wave of information technology with improvement in efficiency, productivity and bottom line. Productivity improvement has facilitated speedy and accurate production in large volumes. Indian financial sector has also benefited from advancement in information technology.
Current global and competitive business environment constantly asks for innovation, existing knowledge base is getting obsolete, continuously thriving for advancement in process improvement. The learning curve is always put to test, and every company is striving to remain ahead of the curve. Due to this shift in the way business is getting conducted has thrown out new reality of ever shortening product and service life cycle. More and more companies are coming out with customized products and finding ways to differentiate from competition.
A recent survey conducted has highlighted that the change in the business environment can be summarized with following:
To understand business environment and drivers of change, it is first important to study its characteristics. They are as follows.
Business Process Outsourcing involves contracting one or many front end (customer related) or back end (finance, HR, accounting, etc.) activities within a company to a third party service provider. The number of jobs within BPO industry has increased exponentially in last decade. BPO is one of the new faces in business environment.
Outsourcing has help companies reduce their overhead expenses, improve productivity, shorten innovation cycles, encourage new market penetration and also improving customer experience. India has seen tremendous growth in BPO industry within function like customer care, finance/accounts, payroll, high end financial services, human-resource, etc.
The recent explosion of information technology has seen few but significant emerging trends, for example, mobile platform for doing business, cloud computing, technology to handle a large volume of data, etc.
These fresh technologies and platforms are offering numerous opportunities for companies to drive strategic business advantage and stay ahead of the competition. Companies need to work on new plans as to maintain flexibility and deliver customer satisfying products and services.
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