Internet and Technology

Article by inder mohan singh

Are you in the field of office management? If you are, you likely know firsthand how demanding office management can be. With that in mind, there are tools that you can use to ease the process of office management. One of those tools is office management software.

Before examining some of the many features found on office management software, it is important to remember that there is a variance. With that in mind, many office management software programs have easy to use email programs, downloadable and printable customer invoice templates, as well as customer payment record programs, document templates, editable to do lists, and much more. This easy access to important information and documents will allow your office manager and possibly other staff members to prioritize and improve their productivity.

If you like what office management software can do for you, you may want to start shopping right away. For more details go to: http://www.page-brand-generator.com before doing so, it is important to remember that office management software comes in a number of different formats. If this is your first time purchasing office management software, there are a number of points that you will first want to examine. These points, a few of which are outlined below, can help to ensure that the office management software program purchased is the software that is best for you, your business, and your office manager.One of the many reasons why you should use office management software to your advantage is because of product selection. As it was previously stated, office management software comes in a number of different formats. This enables you to get the largest software selection. Whether you are looking for a deluxe office management software program, such as one that enables you to network all office computer together or access important documents online, or even just a standard office management software version, you should be able to find it. Having a wide range of options, as well as prices, is ideal if this is your first attempt at incorporating this important software into your business’s structure.

As nice as it is to hear what office management software may be able to offer you, you may be curious as to why you should invest it in. For starters, it is important to focus on the saved time. Office management software not only enables you to save time, but it enables you to make the most out of the time that you do have. Office management software, if properly used, can enable you to monitor the performance of your employees or the tracking of clients and profits, all from the comfort of your own desk. Not having to constantly monitor all employees that are your responsibility makes performing your own tasks much easier.

It is also important to examine the computer systems used. Office workers are most often known for their use of desktop computers. Desktop computers are nice, but you may want to examine the size of them. Small, compact desktop computers may be able to help your office run more smoothly. For help visit: http://www.text2speech-converter.com this is because less computer space can often significantly reduce desktop clutter. It is also important to examine laptop computers. If you or your office workers are known for their travels, laptop computers, namely those with wireless internet cards, are ideal for productivity. They enable all office staff members to work from a number of locations, including in hotel rooms or at home.

The above mentioned points are just a few of the many that you will want to take into consideration, when examining the current office equipment and supplies used by your company and your department. For additional ways that you can update your office to improve performance levels and productivity, you will want to attend office management seminars. Office management seminars are popular among office managers, as they are designed to share techniques that have been proven successful in the field of office management. Office management training seminars are often highlighted online or in business magazines or journals.

About The Author

www.pure-profit-software.com

www.scripts-to-sell.com

Keyword: – Software, Software Management, Business Software, Antivirus Software, Software Download.

Article by William Kadutzi

Asset management means looking after the properties and assets. The properties may include all tangible as well as intangible assets like house, firms, office, business as well as stocks and shares. Taking good care of these properties require efficient asset management. The application of asset management software makes it possible for the asset owners to maintain a record of their assets and maintain them altogether.

How does asset management software work?

Asset management software contain databases that give a complete information regarding where a particular asset is located, the transaction records related to that asset, the whereabouts of the past and the present owners and also the names of those who are eligible to use the asset.

The software acts with information from Radio Frequency Identification tags and the barcodes and thus helps to get detailed information about the assets. Although in a broader sense, the asset management software denotes a set of software used in managing the assets, in more recent times, the term has been used to specify only a particular software that is used to keep a track on the computer networks. The latter software is now mainly used by the Information Technology professionals.

Advantages of using asset management software

Most of the asset management software are free. These free asset management software are quite easy to download and install. The software can be used for checking out various equipments to the employees. The database will keep you updated about the whereabouts of your equipments and the current position of the equipments. In many cases, the free asset management software also doubles as accounting software. Software like this can be used to keep track of unlimited assets which would not have been possible if done manually. At the moment, the IT firms are also implementing various help desk software to aid in asset management.

Features of help desk software

The help desk software are interactive in the way that these respond to requests that come through e-mail, through telephone and through the web portal where an distressed individual can drop in his or her problem. The software analyses the gravity of the situation and gives the task to the experts who can deal with the problems. The software also provide a huge data base that is easily understood by both the technicians as well as the individual who has suffered a problem.

Asset management software can be accessed by the distressed individuals twenty four hours a day and seven days a week. What were previously used to manage the wealth, tangible and intangible assets of the rich, are now used in big IT firms to keep a record of their networks. No doubt the use of asset management software has indeed ensured a smooth functioning of the software companies.

Article by Varnit Banthia

Each man is surrounded today by technology. Technology is often the reason why you waste time – the most obvious example being social networking sites like Facebook, Twitter, MySpace etc.

But you can learn to use technology to help manage your time better too. Let us see how.

You can use your cell phone to make your To-Do-Lists. It not just gives you a complete record of things done and yet to be done, it also allows you to put reminders, notes and alarms to ensure that you do not forget to do your important tasks and you stay on par with your desired results.

There are a number of Goal-Setting softwares and websites on the internet today which you can use that not only help you break your goals into smaller achievable units but also help you to monitor your progress regularly. I will soon come up with my own set of recommended such websites and softwares.

Set timely notes or inspirational quotes in your mobile phone, computer, PDA etc that will keep you motivated on your path to success. For example, you can set up a new quote everyday on your cell phone that you may see every morning when you get up.

Try avoiding going for meetings as much as possible. Use e-mail, chat, text messaging and phone calls as much as possible. When someone requests you to meet him/her, always ask yourself these Three Questions:

1. Is it beneficial to meet this person?2. Can this work not be done through e-mail, phone, chat etc?3. If there is no way out but meeting this person, can I call him/her to the my office/home at the time that is most convenient for me?

If none of these options work out,then go meet this person but do ensure that you do not forget to do your list of daily tasks.Warning: Do not stop meeting everyone and turn into a social recluse.

For more tips and tricks on Time Management Skills as well as a list of time management softwares and websites, do visit: http://www.DoMoreInLess.blogspot.com/

These are some of the ways you can befriend technology to your advantage. Technology is therefore, a good servant but a bad master. Eventually, it all boils down to how we use technology – as a agent to save time or waste time.

Good Luck.Cheers!

Article by Arturo Chuong

The world is very much dependent on information technology because this is where businesses can get all of their information to customers or other consumers. Information technology is the study, development, and implementation with support of information systems. Information technology management is another step forward which takes the technology as a corporate resource where a company can organize it into an important tool to get their information to all targets. It can be used to help with business to gain new customers or to keep people abreast of all new things happening in the company.

Businesses who employ it must be in close relations with IT management in order for their businesses can use it to its optimum effectiveness. Topics that need to be understood to make information technology work is strategic planning, financial management, and risk analysis.

With this area of expertise becoming so much more important in this world, people can study this area at length. There are bachelor, masters, and doctorate degrees. There are many colleges who offer these courses. There are even courses online that allow some people with current jobs to take an online course at home. It helps people to accomplish a goal without adjusting their lifestyle too much.

To more closely look at the role of an IT manager, they must know how to plan, design, select, and use the new technologies that are coming out to integrate into the business that is employing them. Therefore, it is the ability of a person to effectively use the systems available to make it work for a business.

There are many resources online to find out more about this topic. There are schools who can help people decide if this is the career path that they would like to take. Businesses can get information on IT consultants who can help improve their businesses with setting up their system, and implementing the most economical system with up-to-date software.

There are journals available on all of the latest topics. They have some of the best people in the field keep other managers informed of new technologies being tested.

There can be specialists in different businesses who need information technology. Technology is advancing in every field, and it may take more expertise to implement information technology in certain fields because each field has its own specified systems.

Information technology management is a necessary field as our society continues to grow. Information technology are a set of technological systems which groups or businesses employ in order to spread the information which they produce or in turn, collect. Businesses may not be information technology businesses and need the assistance of those who are experts in the field to implement it into their business. IT managers are these people, and they can help to study a business and build the network of a business with the most economical and up-to-date systems. To become an IT manager, one can go to college advisors to find out if this is the field for them. There are many programs across the country.

Article by Hotelaj

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Introduction

•            It is almost impossible to find a business leader in the global marketplace who does not operate, or at the very least, is not exploring opportunities with or within emerging market countries. Even those entrepreneurs who prefer domestic markets experience competition from companies based in these regions. During the last 20 years, the global business world has gone through drastic but mostly positive changes. In the 1980s, international business was essentially an exclusive club of the 20 richest countries. This changed as dictatorships and command economies collapsed throughout the world. Countries that once prohibited foreign investment from operating on their soil and were isolated from international cooperation are now part of the global marketplace.

The Idea in a Nutshell

•            All strategists, analysts and executives try to understand and evaluate emerging market countries. This process is complicated by the pervasiveness of misleading statistics and studies.

•            An emerging market country can be defined as a society transitioning from a dictatorship to a free market-oriented economy, with increasing economic freedom, gradual integration within the global marketplace, an expanding middle class, improving standards of living and social stability and tolerance, as well as an increase in cooperation with multilateral institutions.

The Top Ten Things You Need to Know About Competing in Emerging Markets

1.Push to perfect the technology, improving quality and attractive performance.

2.Consider merging with or acquiring another firm to gain expertise and resources strengths.

3.Technology Try to capture any first-mover advantages by adopting it quickly; however, it can be costly and it can quickly move in surprising new direction.

4. Acquire or form alliances with companies that have related or complementary technological expertise.

5. Pursue new customer groups, new applications, and entry into new geographical areas.

6. Make it easy and cheap for first-time buyers to try the industry’s first-generation product.

7. Products becomes familiar to a wide portion of the market, shift the advertising emphasis from creating product awareness to create brand loyalty.

8. Use price cuts to attract the next layer of price-sensitive buyers into the market.

9.Form strategic alliances with key suppliers whenever effective supply chain management provides important access to specialized skills.

10. Strategic efforts to win the early race for growth and market-share leadership.

The Video Lounge

The term emerging markets is used by investment analysts to categorize countries that are in a transitional phase between developing countries that are just beginning to industrialize and countries that are fully developed. The main significance of the use of the term is that investments in emerging markets are assumed to carry greater risk and offer less safety in investment. The term is often used interchangeably with developing markets, though this is somewhat inaccurate. In this Video he tells us about the changed in this century. Emerging markets are characterized by strong economic growth, resulting in an often-marked rise in GDP and disposable income. As a result, people in emerging countries are often able to buy goods and services that they previously would not have been able to afford. This provides international companies with the opportunity to tap large, new customer bases, potentially driving significant growth for a number of companies and industries.

http://www.youtube.com/watch?v=3eUbxJAud5w

My Take

•Multilateral institutions cannot ignore the need for clear definitions of emerging markets, as well as of developing and underdeveloped countries. It is important not only for the global business community but also for the poorest people and countries, which need special attention from political and business leaders of the world.

References

Michael Pettis, The Volatility Machine: Emerging Economies and the Threat of Financial Collapse (2001)

http://en.wikipedia.org/wiki/Emerging_markets

http://www.forbes.com/2010/04/22/women-talent-workplace-china-india-brazil-forbes-woman-emerging-markets.html

http://www.forbes.com/emergingmarkets/.

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Contact Info: To contact the author of “Top Ten Management on Competing in emerging markets,” please email Gerardo A Trejo at gerardo.trejo@selu.edu.

Biography

David C. Wyld (dwyld.kwu@gmail.com) is the Robert Maurin Professor of Management at Southeastern Louisiana University in Hammond, Louisiana. He is a management consultant, researcher/writer, and executive educator. His blog, Wyld About Business, can be viewed at http://wyld-business.blogspot.com/. He also serves as the Director of the Reverse Auction Research Center (http://reverseauctionresearch.blogspot.com/), a hub of research and news in the expanding world of competitive bidding. Dr. Wyld also maintains compilations of works he has helped his students to turn into editorially-reviewed publications at the following sites:

Management Concepts (http://toptenmanagement.blogspot.com/)

Book Reviews (http://wyld-about-books.blogspot.com/) and

Travel and International Foods (http://wyld-about-food.blogspot.com/).                

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Article by Jim Eisenheim

Is your business currently facing IT challenges and in need of storage management solutions? Are you seeking data management services at reasonable costs? If so, Edge Solutions (“Edge”) can help.Edge provides storage management solutions, virtualization services and innovative IT solutions to businesses of all sizes. Additionally, we have a team of competent professionals that act as your managed IT service providers to ensure you receive innovative, cost-effective services to meets your needs.

Storage and Data Management Solutions

Edge provides the best storage and data management solutions through data backup, data recovery, and archiving services. Our professionals provide assistance with improving, consolidating, migrating, and expanding your current systems. Additionally, our disaster recovery sites guarantee the safety of your data.

Virtualization Services

Virtualization services continuously improve organizational systems, operations, and management practices. Implementing virtualization services is advantageous because it provides enhanced integrated systems infrastructure, reduces costs, increases efficiency by improving resource reuse and sharing, improves budget control and predictability, and increases systems performance and availability. Without proper guidance, adding virtualization services can be a challenging task resulting in delayed projects and cost overruns. Edge’s virtualization services ensure technology needs are aligned with business requirements, projects are completed in a timely manner, and implementation of such services stay within projects’ budgets.

Innovative IT Solutions

Edge understands that each business has unique IT needs, thus demanding unique solutions. We make meeting those needs our top priority. We have the experience and competence to address each problem with the most appropriate and cost-effective IT solution. Currently, we provide IT solutions to various service providers in the health care, state and local government, education, and financial and banking industries. Edge will create a team of professionals to meet your organization’s unique needs.

IT Management

Edge also provides IT Management for companies seeking to minimize data center expenses. Managing data centers can be very expensive. Edge’s outsourced services maintain valuable information technology assets by providing secure local data centers with round-the-clock support. Consequently, your company receives professional IT support at low costs, maximizing your internal resources.

Edge’s collaborative team of professionals and consultants provide a diverse set of services to any organization, regardless of type or size. Data management is a key resource for every growing company. We are professional, cost-effective, and efficient providers of storage management solutions, virtualization services, innovative IT solutions, and IT management services.Edge Solutions is dedicated to delivering the right IT solution and expertise to enable growth for your business with robust methodology to address each stage of the technology adoption cycle. Edge Solutions is comprised of vibrant, experienced professionals who have extensive information technology, business management and channel management experience. Everyone at Edge is dedicated to providing the highest quality of services enabling the growth of our customers and our business partners with the right solutions every day.

Is management an art or a science?

In general sense, management is the art of handling the different aspects of the organization. And it is also a type of science like the mathematics is a formal science then management is also came in the category of the formal science. But if take a look keenly then, management is totally an art. This is an art that how we communicate with the general people, which came in the management. It is the ability and art of a manager that handles the organization in well manner and keeps growing the organization level because of using his abilities.

Let us suppose that a person came to a manager in very angry mode, and after taking to the manager, he is convinced according to the manager point of view, then it was the art of a manager that he has handled the customer in a friendly way. Management is not totally depend upon the manager’s ability, it also the team work of the other organization members, who contribute there effort for the organization. Again it is an art that a group of people work together for so long time and reach to some high level, because of there managerial skills and abilities.

It is believed that management is both an art as well as science. The reason is that different sources justify it with different reasons. According to Webster’s College Dictionary, management is an art because it provides the skills for conducting human activities and it is a science because the skills and techniques which are used in management are precise applications. Scientific principles which are used in management, give the managers specific body of information to guide their behavior. It is also considered an art by the people who think that it is a skill borne of personality and ability.

Also depends on what you’re managing. Business management is a science. Nuclear dynamics is a science. Managing the calories you put in your body is a science (you are using data to make a decision). Managing (or deciding) the next color to apply to a painting is an art. Or an art form.
The previous answer was pretty good, but lacked in practical application. And each application will determine which result it is. Management is art as well as science because it involves the element of arts like the capability of the person and their approach towards the given task. Management is science because it involves the logic and principle behind the things done. Science and art both plays an important role in management.

The word Manage id taken from Italian word “Maneggiare” means to handle, especially to handle or train horses. Here management refers to an Art because managing or training horses is not a science or profession. Managing originally used to indicate other process for managing, training or directing. Management has been called other art of geeting things done through people.

The art of management is a personal creative power plus skill in performance. The contemplation of problems, events and possibilities develops personal creative power, while experience, observation, and study of results contribute to skilled performance. In other words management art involves envisioning orderly whole from chaotic parts, communicating other vision, and acheiving other goal. It is other “art of arts” because it organizes and uses human talent.

The scientific method has played an important role in building managment knowledge and improving managerial skills. The field of management has taken long forward steps since other begining of this century. There is now adequate knoledge for a solid foundation, but it should not be assumed that other scientific method will soon provide all other answers. Managers have to contend with uncertainties that cannot be removed by scientiific endeavour.

An important argument for other accumulation of scientific knowledge about management is other need to develop large number of executives. Even though such knowledge is limited, other student can be some significant insights in to other nature of other management problem.

Science and technology are today coming to their full fruition. Hardly a business can continue its affairs without some reference to other scientific and technological systems. The harnessing of science and technical knowledge is for ‘management’.

Among other many persons who are occupationally engaged in management, most have qualified earlier in their industrial or commercial cases in specialized technical or professional fields as engineers, chemists, accountants etc. They have risen to higher executive positions through years spent in other specialized pratice of their profession of technology.

Ultimately management is both, science and art… Management is incomplete without anyone…

The concept of management is universal and very old. That is why different views have been expressed about its nature by different writers from time to time. The continuous and rapid development of management principles and practices in organization has changed the nature of management. The main points of view about the nature of management are given below:

Management as an Inborn or Acquired Ability

In the pre-scientific management period, i.e., prior to 1880 there has been a leading concept that management is an inborn ability. It is a traditional approach. The supporters of this concept believe that the hereditary characteristics, inborn talents and natural aptitudes of a man make him an efficient manager. Some people are so efficient and talented since their birth that they lead and get success in the field of business. To our mind, this concept was used when the ownership and management were not separated. But later on the researches and development in the field of science, technology and training etc. changed this old concept. Today management is considered not only as an inborn ability but also as an acquired ability. In the words of Ordway Tead, “Managers are both born and made.” Today, in large-sized business organizations, ownership and management are separate identities. The management lies in the hands of professional managers who are educated and trained. Thus, now the management can be considered as an acquired ability.

Management as an Art, Science or Both

A lot of controversy arises whether management is an art or science or both. It is said that the management is the oldest of arts and youngest of science. This explains the changing nature of management. But to have an exact answer to this question, it is necessary to understand both these aspects separately and combined, as given below:

Management as an Art: Art refers to the way of doing specific things; it indicates how an object can be achieved. In the words of George R. Terry, “Art is bringing about of a desired result through the application of skill.” Art is, thus, skilful application of knowledge which entirely depends on the inherent capacity of a person which comes from within a person and is learned from practice and experience. In this sense, management is certainly an art as a manager uses his skill, knowledge and experience in solving various problems, both complicated and non-complicated that arise in the working of his enterprise successful. In the words of Ernest Dale, “Management is considered as an art rather than science mainly because managerial skill is a personnel possession and is intuitive.”
Management as a Science: Science may be described as a systematized body of knowledge based on proper findings and exact principles and is capable of verification. It is a reservoir of fundamental truths and its findings apply safely in all the situations. In this sense, management is a science as it has also developed some systematized knowledge. Like other sciences, management has also developed certain principles, laws, generalization, which are universal in nature and are applicable wherever the efforts of the people are to be coordinated. But management is not as exact science as other physical sciences like physic, chemistry, biology, astronomy etc. The main reason for the inexactness of science of management is that it deals with the people and it is very difficult to predict their behavior accurately. In this way, management falls in the area of ’social sciences’. Thus, it is a social science.

Conclusion- Management is an Art and Science Both

From the above study, we conclude that management is an art and science both. According to American Society of Mechanical Engineers. “Management is the art and science of preparing, organizing and directing human efforts to control the forces and utilize the material of nature for the benefit of men. “Thus, it has now been accepted that management is an art as well as science. It has the elements of both arts and science. In the words of Dean Stanley, “Management is a mixture of an art an science – the present ratio is about 80% art and 20% science.”

*************************** SHIVASHANKAR  V. JIRLI.

Introduction

In this report, I will provide the many roles that Information Technology plays in Operations Management. Moreover, I will review the various types of Information Technology, and how they are utilized within an organization.

The Idea in a Nutshell

Everyday, business owners are faced with the challenge of seeking ways to streamline their operation in ways that are not only cost effective and efficient, but that is conducive to increased sales as well. During the strategic planning phase, some businesses will concentrate on aggressive marketing strategies, while others will create a product that is superior to their competitors. Both plans are promising; however, regardless of what plan is selected, the key factor in determining rather either will be successful is how it reaches the end user, the consumer. Businesses must insure that all their hard work reaches its target market. Investing in Information Technology will insure success, for not only is it cost effective, but it is also efficient.

As defined by the Information Technology Association of America, Information Technology is “the study, design, development, implementation, support or management of computer-based information systems, particularly software applications and computer hardware. Information Technology (IT) deals with the use of electronic computers and computer software to convert, store, protect, process, transmit, and securely retrieve information”. In operations management, IT plays a crucial role in business transactions, without it, most businesses would go under.

Although the term IT dates back to the 1960’s, it actually begin becoming a well known concept during the 1980’s, specifically with the introduction of the personal computer. Since then, IT has skyrocketed to become very fundamental in the business world. It is difficult to finger just one pioneer of IT, as countless have assisted in pioneering some of the most savvy systems known to the business world. However, if we must bestow the honor upon just one, I would have to nominate Samuel Morse as being the father to IT, for his invention of the telegraph in 1844 began the conquest of delivering information in electrical form over long distances. To him we must pay homage. Over a century has passed, and IT has dominated our culture. Let’s review the different faces of IT in Operations Management.

The Top Ten Things You Need to Know About the Role of Information Technology in Operations Management

1.            Business to Business (B2B): Information technology assists with electronic transactions between businesses usually over the internet. Before the internet, business to business transactions would take days to complete. Transactions such as sales, ordering, or the formation of contracts could only be done by either mail, or the phone system, creating a very inefficient and costly environment. Today, a mere click of a mouse is responsible for generating billions of dollars in sales,

2.            Business to Consumer (B2C): Not only does Information technology assist B2B transactions, it also allows consumers to participate in the convenience of on-line transactions. A B2C transaction is another type of IT which involves electronic transactions between businesses and their customers usually over the internet. A good example of a B2C is a company such as Priceline.com which lacks a traditional office for consumers to frequent, but instead has a website that initiates the majority of its sales transactions. .

3.            Internet: For those born on another planet, the Internet is a global information system of computer networks that facilitates communications and data transfers. The internet has become one of the most common IT feature known in the business world From sending e-mails to proposals, the internet is one of the most inexpensive forms of IT that can be utilized within an business.

4.            Extranet: The extranet is an intranet connected to the Internet. It allows collaboration of customer and vendors, usually between B2B. It is a form of shared access with suppliers, trading partners, and customers.

5.            Bar Codes: Bar Codes are a series of lines printed on packages that helps identify the product and other pertinent information when read by a scanner. Usually, this information is scanned into an inventory software system that allows business to keep account of what has been sold and what ultimately has to be re-ordered. Bar Codes are mostly used by manufacturers and retailers.

6.            Customer Relationship Management (CRM): Customer Relationship Management is software used for managing interactions with customers as well as compiling and analyzing customer data. CRM is a vital tool that marketers use to help them identify target markets. For example, CRM’s provide the type of demographic information that exposed the fact retired senior citizens’ are buying more convertible sports cars than hard top Cadillac’s. Moreover, it is also used to assist in improving the consumers buying experience.

7.           Supply Chain Management:  Supply Chain Management is software used for managing flow of goods and information among a network of suppliers, manufacturers, and distributors. Supply Chain Management is utilized heavily in the manufacturing industry where the collaboration between various businesses is critical to the operation of all parties.

8.            Decision Support Systems (DSS): DSS is an information program that assists managers in making vital decisions. It includes quantitative modeling components for what if analysis. The DSS system is an accountant’s and finance analyst companion, it can also provide use for a business manager.

9.            Expert Systems (ES): Expert Systems are normally used within the science industry such as: Chemical plants, Bio-laboratories, and Engineering firms. ES is a computer system that uses an expert knowledge base to diagnose or solve a problem.

10.            Enterprise Resource Planning: Enterprise Resource Planning is software used for managing basic requirements of an enterprise. This includes sales and marketing, accounting, materials management, production, and human resources.

The Video Lounge

http://video.google.com/videoplay?docid=3774507973108570104#

The web is filled with data regarding Information Technology. A simple Google search will provide thousands of colleges aggressively recruiting potential IT majors to attend their organization, and understandably so. The IT field continues to have a steady demand for those interested in entering the field. However, in this video Sacha Vincent provides us with the effects that Information Technology has had on China; and how it ultimately shifted sales from the United States.

My Take

Information Technology is playing a crucial role in business. Whether you are a consumer buying concert tickets, a small business owner, or a teenager with the new IPhone, you have more than likely participated in the world of Information Technology. In the 21st century, no business that is looking to succeed can run its organization without insuring that it is equipped with the necessary resources needed to survive in a competitive market.

References

 Harrell, A. J. (2009) Information Age: People, Information & Technology, 186, 89

Russell R. (2010) Operations Management, 6, 276-285
 

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Contact Info: To contact the author of “Top Ten Management on “The Role of Information Technology in Operation Management,” please email Chastity N. Cyprian at W0010509@selu.edu.

Biography

David C. Wyld (dwyld.kwu@gmail.com) is the Robert Maurin Professor of Management at Southeastern Louisiana University in Hammond, Louisiana. He is a management consultant, researcher/writer, and executive educator. His blog, Wyld About Business, can be viewed at http://wyld-business.blogspot.com/. He also serves as the Director of the Reverse Auction Research Center (http://reverseauctionresearch.blogspot.com/), a hub of research and news in the expanding world of competitive bidding. Dr. Wyld also maintains compilations of works he has helped his students to turn into editorially-reviewed publications at the following sites:

Management Concepts (http://toptenmanagement.blogspot.com/)

Book Reviews (http://wyld-about-books.blogspot.com/) and

Travel and International Foods (http://wyld-about-food.blogspot.com/).                

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Introduction

Strategic Fit is what businesses use to combine resources together in order to lower cost. There are a various number of ways that businesses do this and it takes a lot of collaboration among many different areas of the business. The different ways that businesses do this will be discussed more in detail in this article.

The Idea in a Nutshell

Strategic Fit is when the value chains of different businesses present opportunities for cross-business resource transfer, lower costs through combining the performance of related value chain activities, cross-business use of a potent brand name, and cross-business collaboration to build new or stronger competitive capabilities.

The Top Ten Things You Need to Know About Strategic Fit

1.            Strategic Fit in R&D and technology activities: Businesses with technology sharing benefits can perform better together than apart because of potential cost saving in R&D and potentially shorter times in getting new products to market. Also technological advances in one business can lead to increased sales for both.

2.            Strategic Fit in supply chain activities: Businesses that have supply chain strategic fits can perform better together because of the potential for skills transfer in procuring materials, the benefits of added collaboration with common supply chain partners, greater bargaining power, and added leverage with shippers. This also helps with securing volume discounts on shipments that get ordered.

3.            Manufacturing-Related Strategic Fits: Strategic Fits in manufacturing-related activities can represent an important source of competitive advantage in situations where a diversifier’s expertise in quality manufacturer and cost efficient production methods can be transferred to another business. Another benefit from doing this is the ability to consolidate production into a smaller number of plants and significantly reduce overall production costs.

4.            Distribution-Related Strategic Fits: Businesses that have closely related distribution activities can perform better together than apart because of cost savings in sharing the same distribution facilities or using many of the same wholesale distributors and retail dealers to access customers. For example when Conair Corporation acquired Allegro Manufacturing’s travel bag and accessory business in 2007, it was able to consolidate its own distribution centers for hair dryers and curling irons with those of Allegro, which saved money for both businesses.

5.            Strategic Fits in Sales and Marketing Activities: By doing this the business save money because the same distribution centers can be utilized for warehousing and shipping the products of different businesses. Also there may be other competitively valuable opportunities because businesses can transfer selling, merchandising, advertising, and product differentiation skills from one business to another.   

6.            Strategic fits in Managerial and Administrative Support Activities: At General Electric the managers that were involved in GE’s expansion into Russia were able to expedite entry because of information gained from GE managers involved in expansions into other emerging markets. The lessons GE managers learned in China were passed along to GE managers in Russia, allowing them to anticipate that the Russian government would demand that GE build production capacity in the country rather than enter the market through exporting or licensing.

7.            Strategic Fit in Economies of Scope: In economies of scope costs reductions come from operating in multiple businesses; such economies stem directly from strategic fit efficiencies along the value chains of related businesses. The greater the cross-business economies associated with cost saving strategic fits, the greater the potential for a related diversification strategy to yield a competitive advantage based on lower costs that rivals.

8.             Strategic Fit adds Profitability and Gains Shareholder Value: Capturing cross-business strategic fits via a strategy of related diversification builds shareholder value in ways that shareholders cannot undertake by simply owning a portfolio of stocks of companies in different industries. Also companies pursuing diversification can achieve 1+1=3 financial performance and be more profitable.

9.            Strategic Fit in Companies Diversifying into Unrelated businesses: any company or business that can be acquired on good financial terms and that has satisfactory growth and earnings potential represents a good acquisition and a good business opportunity. Businesses do this in order to expand themselves by getting a company that is already established and joining them to increase the customer base.

10.            Strategic Fit presents opportunities for transferring competitively valuable expertise, technological know-how, or other capabilities from one business to another. It also combines resources to create new strengths and capabilities thereby lowering costs for the business.

The Video Lounge

http://www.youtube.com/watch?v=zc467tDNqA8 In this video clip he explains how he strategically fit attributes from another well established company into his in order to help his business. He made sure that the business he chose was exactly what his company needed in order to lower costs.

My Take

Strategic fit is still relative today, especially since our economy is the way it is right now. Now more that ever businesses are finding was to save money by joining forces with other businesses, by combining the performance of related value chain activities and other cross-business related activities. For example Dell’s strategic partnerships with leading suppliers of microprocessors, circuit boards, disk drives, memory chips and other PC-related components have been an important element of the company’s strategy to diversify into servers, data storage devices and LCD TVs. These are products that include many components common to PCs and that can be sourced from the same strategic partners that provide Dell with PC components.

References

J.E., Strickland, A.J., Thompson, A.A. (2010). Crafting and Executing Strategy: The Quest for Competitive

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Contact Info: To contact the author of “Top Ten Management on Strategic Fit,” please email Aaron J. Lodge at Aaron.Lodge@selu.edu or Alodge100@gmail.com.

Biography

David C. Wyld (dwyld.kwu@gmail.com) is the Robert Maurin Professor of Management at Southeastern Louisiana University in Hammond, Louisiana. He is a management consultant, researcher/writer, and executive educator. His blog, Wyld About Business, can be viewed at http://wyld-business.blogspot.com/. He also serves as the Director of the Reverse Auction Research Center (http://reverseauctionresearch.blogspot.com/), a hub of research and news in the expanding world of competitive bidding. Dr. Wyld also maintains compilations of works he has helped his students to turn into editorially-reviewed publications at the following sites:

Management Concepts (http://toptenmanagement.blogspot.com/)

Book Reviews (http://wyld-about-books.blogspot.com/) and

Travel and International Foods (http://wyld-about-food.blogspot.com/).                

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