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EMTH6013 Emerging Themes
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EMTH6013 Emerging Themes
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Course Code: EMTH6013
University: Greenwich School Of Management
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Country: United Kingdom
Question:
The business environment is under constant change. Economic, political and social factors, amongst others, are markedly shaping the ways in which organisations have to transform themselves in order to be sustainable and maintain competitive advantage. The following articles provide the necessary background in order for you to complete this assessment task.
Read one article that is relevant to your specialism of study (as provided below):
Article 1: http://ijecm.co.uk/wp-content/uploads/2018/04/6458.pdf
Article 2: : http://www.mdpi.com/2071-1050/9/6/1056/htm
Article 3: http://rightangleevents.co.uk/blog/173
Article 4: https://www.marketingweek.com/2017/01/12/rise-of-the-machines/
Article 5: https://www2.deloitte.com/content/dam/Deloitte/de/Documents/energy-resources/gx-blockchain-report-future-in-oil-and-gas.pdf
Task:
You are required to review and critically analyse the article provided by the following:
Critically evaluate the key emerging themes within the article, outlining the current impact that they are having on organisations within your business sector.
Critically discuss how those themes (identified in task 1) are likely to affect the sector over the next five years and outline what their implications might be for the formulation of business strategy.
Within your critical discussion, you should outline the key factors for consideration when organisations within the sector are formulating future strategy.
Answer:
In the essay the article that is going to be reviewed and critically analysed is the impact of the knowledge management on the activation of the E-commerce using the social media. The article mainly discussed that how the information technology and the knowledge management impacts of the E-commerce. The impact of the knowledge management in the E-commerce using the social management has a huge impact. The data transferred rate is efficiently in the knowledge management. This study on the article clarifies that the knowledge management contribution to the activation of the e-commerce using the knowledge management (Turban et al., 2017). There are several firms that are implementing the knowledge management on the e-commerce using the social media. The knowledge management improves the performance of the business organizations. The ecommerce is evaluation by the use of the social media. The social media points to the several different points and the forums. In the article the emerging theme that is shown is the social media evolution in the e-commerce (Ngai, Tao and Moon 2015). In the recent time the social media became the important aspect of the E-commerce and the online businesses. The business organizations are gaining lot of revenue because of the social media implications in the e-commerce. The article also discussed the social media effects on the knowledge management. The social media provides the material for the knowledge management that are inexhaustible. The ability of the social media is to facilitate the work of the organizations. Using the social media the businesses of the organization as the knowledge management of the social which is identified as, sharing, identifying, transferring, documenting, developing, and evaluating of the knowledge management in the social media (Turban et al., 2015). The social media has the power to improve the business organizations in several different ways. They fit the process that share the tacit knowledge and helps the organization to building the memory. They will fir the sharing of knowledge that is from below to above, and they also shares the knowledge of the team that is distributed over the wide range of the geographical area range (Ngai et al., 2015). There are several impacts of the knowledge management on the E-commerce.
The integration of the development on to the techniques of the web which is especially of the Web 2.0 appearance that has given the tools that has the ability to create extra values to the tools and the customers. The social media is incorporated into several investments that improves the customer relationship with the businesses (Hajli 2014). According to the latest studies the social media effect is huge on the organizations of the businesses. There are several platforms are present on the social media that helps the several different organizations to grow and generate huge amount of revenue. In this article the company that is Starbucks is discussed and the procedure that how the company is growing using the social media. Knowledge is basic of the any kind of business and organizations (Laudon and Laudon 2016). For any kind of work place the emerging factors id the implementation of the knowledge management. Traditionally the knowledge is gathered from the information’s and implemented on the several businesses and the organizations. The main motive of the any kind of business or the organizations id to provide satisfaction to the customers. As the recent time the businesses are stated to market online of the social media the customers are associating with these businesses or the organizations. The social media has started channel that connects the people with the businesses and the organizations. In the future the online presence of the business is mandatory. For any kind of business it is necessary to have online presence that will connect many people. The knowledge management association is very important to the e-commerce that is using the social media. Strong guidelines for the customers are very important for the business (Hamari, Sjöklint and Ukkonen 2016).
The future prospect of the knowledge management is very high as the more people are going to involve with the social media and hence the more people will engage the more data will generate and the amount of the knowledge will also increase. The customers plays a huge part for the improvement of the businesses. As the feedback of the customer is necessary for the growth of the business and the organizations. The rate of the buyers is increased for the company as in the social media the number of the people associated is large and from there most people will associate with the business. Purchasing of the items from the e-commerce is very easy as the advertisements of the products are on the social media and people are engaged with these (Strauss and Frost 2016). Business websites are not anymore effect that is high so the businesses are choose to create a page on the social media of the particular product or the business so that the people who are using the social media will be able to access the social media as well as engage with the product. A dedicated page will be helpful for the customers to gain the details of the product which can be helpful for the customers. The social media and the e-commerce is a big part of the human being in the recent time. This will be increase in the near future and the customers will be able to engage more and more to the social media and with the businesses. In the future the in app payment methods will be evolved so that the customer will be able to pay the amount conveniently. In the future complains of the customer will also be managed online so that the customer does not have to face any kind of harassments. The knowledge management implications will be very helpful for the e-commerce in the future that is because of the social media only (Chaffey 2015). And the customers of the organizations and for the businesses will be very helpful in the near future. As the full emphasise is on the customer satisfactions as well as the growth of the company as well. So it can be said that the knowledge management has a huge impact on the e-commerce that is use the social media for its marketing.
References:
Chaffey, D., 2015. Digital business and e-commerce management. Pearson Education Limited.
Hajli, M.N., 2014. A study of the impact of social media on consumers. International Journal of Market Research, 56(3), pp.387-404.
Hamari, J., Sjöklint, M. and Ukkonen, A., 2016. The sharing economy: Why people participate in collaborative consumption. Journal of the Association for Information Science and Technology, 67(9), pp.2047-2059.
Laudon, K.C. and Laudon, J.P., 2016. Management information system. Pearson Education India.
Ngai, E.W., Moon, K.L.K., Lam, S.S., Chin, E.S. and Tao, S.S., 2015. Social media models, technologies, and applications: an academic review and case study. Industrial Management & Data Systems, 115(5), pp.769-802.
Ngai, E.W., Tao, S.S. and Moon, K.K., 2015. Social media research: Theories, constructs, and conceptual frameworks. International Journal of Information Management, 35(1), pp.33-44.
Strauss, J. and Frost, R.D., 2016. E-marketing: Instructor’s Review Copy. Routledge.
Turban, E., King, D., Lee, J.K., Liang, T.P. and Turban, D.C., 2015. Electronic commerce: A managerial and social networks perspective. Springer.Turban, E., Outland, J., King, D., Lee, J.K., Liang, T.P. and Turban, D.C., 2017. Electronic Commerce 2018: A Managerial and Social Networks Perspective. Springer.
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