Business Assignment Sample
Topic- pertinent to businesses in the science sector
Introduction
Each of these companies has its own distinct advantages and a number of disadvantages, including such liability protection, the facility of service and bureaucracy. What trade structure to take may be the product of comparing the benefits and drawbacks of any option than seeing which one of them best suits the business’s goals, style and expectations. The corporate enterprise selected at the technological startup stage does not preclude the formation of a related organisation at a later stage, and each of them will operate under common ownership concurrently. It may also be feasible and useful to move the exchange of one company form to another within one arrangement.
Persons may want to look at the standard, which may occur in a specific sector or corporation while selecting a form of company.
Types of business entities in the U.K. for technological startup
Sole proprietor
A single owner is a legal entity, where a single person controls and operates the business. (also referred to as a sole proprietor). The company owner is not technically independent from the company and therefore is willing to take responsibility, including financing, for all aspects of the company. The small businessman must retain the money earned, but in addition, the firm has full responsibility for any single sum received by the company.
Partnerships
Partnerships are businesses operated by two persons. The Trust between the clients is governed by a legal document specifying the purpose and arrangement of the relationship. The partnership agreement further specifies the responsibilities of the partner, the division of gains, each participant’s contribution obligations and the loss portion. Such as sole ownerships, collaborations have full liability, Indicates that perhaps the individual participants are liable for the business of the organisation. This relationship arrangement would simple device liability of each colleague.
Limited Companies
Limited companies are organised, which means they truly have their own legal status and are independent of their stockholders. In the U.K., limited enterprises in Companies House are established as a ‘valid person,’ where they are allocated a special amount of company. Once companies have been established, they must have a memorandum to guide their partnership with owners and managers. A corporation can buy land, sign a lease, seek liability, and the company is a distinct legal body.
Private Limited CompaniesMinor private companies with limited equity responsibility are also private limited companies. The company has only limited the number of stakeholders ( e.g., 50 players in the U.K.), as it is limited and financed individually. In addition, it is impossible to list financial instruments effectively, which implies Private limited companies reject the listing on stock (5 Main Types of Organization, 2020) of their securities.
Public limited companies
Public limited corporations (PLCs) are companies that are prepared to transfer and trade their shares on the capital exchange for liability insurance. PLCs are equivalent to the necessary capital obligations relative to private companies ( e.g. £50,000,00 in the U.K.). Consequently, two managers and a company clerk should be named, as well as those who also file financial statements every twelve months.
In many organisations, managers are relying on horizontally and vertically to create a framework that meets their business plan requirements. Managers can access four frameworks classifications: (1) basic, (2) functional, (3) multi-divisional. In other words, no two parts of the organisation are just like delicate flowers. Managements can adopt one of these styles to adapt it to a particular company situation when they design a structure for their organisation. Management must understand because it does so that the choice of arrangements affects their organisation’s policies and competitive choices in the context. Some prospective tactical choices are limited when a system is established, while others are sponsored. For example, if an organisation is structured to optimise productivity, it may not be able to adapt to exploit new possibilities quickly.
Requirements to set up for technological contracts
Revenues and external capital freedom
Profits for an early-stage business is also a crucial motivation. Since major businesses can spend large sums of capital in goods, companies can liberate technological startups from the need to invest externally. The long-term interests of corporations will also sustain a technological startup and allow it to accomplish breaches or even profits at an early point. This strategy helps the technological startup, independently of finite risk resources, to achieve sustainable Development.
Future Sales Success Story
Big company clients greatly boost the credibility of technological startups and act as benchmark cases for potential revenue. When businesses and organisations search for sources, this often causes a network impact before cooperation takes place. The transition of the sales process from an idea pitch to a comparison selling will, in this relation become a significant success driver for a technological startup.
Customer base scalable
Big corporations would be a perfect target client when they have ample staff, budget and size. This is beneficial for technological startups and digital technology providers searching for their first clients.
Internationalisation without danger
Acting with the headquarters provides the ability to grow through collaborations with local branches in other countries. In addition, large customer bases can help technology startups develop and refine their goods.
An attractive outlet for online purchases
The structure of a developed company, including its current customers, helps the technological startup business model to be scaled quicker than the technological startup itself would achieve. “Development and not enough opportunities are being looked at by investors in technological startups. Selling to businesses is the best path to the market.
Land control Access
The strategic collaboration will allow a technological startup to leverage underused market assets, including such data which would otherwise be inaccessible and generate business opportunities.
Awareness of the demand and help
A business leader founded will help technology startups into the business with their money. Technological startups should also use mentorship to draw on the company’s skills and expertise.
External creativity and intervention
In order to safeguard their competitive role, businesses must become aware of demand changes in their central and related industry areas due to emerging technologies or creativity. External innovators may create genuinely distressed ideas more openly. Firms will see profit not only in their core companies’ growing sales and margins but also in extending their markets into new regions. The potential competitive advantage is guaranteed by creativity. With the often impediment to internal creativity by safeguarding key cash cows, partnership or the purchase of a technological startup can often serve to interrupt a business model of its own that is impossible to obtain from within.
Further creative providers
Where businesses only deal with qualifying tech companies, possible new revenue opportunities could be lacking: the acquisition from a creative technological startup will give a business a competitive advantage. In comparison, technological startups should clearly surpass the current solution. Company customer suppliers have less operating costs and a greater emphasis on creativity.
Concentration in Client
Innovative technological startups strive to be closer to consumers, as they do not run like traditional process-driven businesses. They can more quickly adapt and configure technologies that help the company to better serve its consumers.
Financing options
No matter how huge your business idea is, your ability to get adequate capital to start and help your business grow is a core aspect of technology startup success. There are also choices open, while many people fund their new ventures with their own capital or borrow money from family or friends. But entrepreneurs of technological startups must realise that improving the financing of technological startups is never easy.
Angel financing
Angel investors are normally people who invest in technological startup firms or early businesses in return for stock ownership. Angel has invested in technology startups, and big success storeys like Uber, WhatsApp, and Facebook have encouraged Angel investors to make more investments to generate enormous revenues.
The average investments for angel are between $25,000 and $100,000 but can go up.
This is particularly of interest to the angels:
- The founders’ consistency, zeal, dedication and honesty
- The growth of the business and consumer demand are being investigated.
- A specifically structured strategic strategy and early proof of the plan’s success
- Technology or intellectual property of importance
An adequate appraisal in fair terms (angel investors invest at an early stage where the risk is greatest, so fewer assessments are usually needed to compensate). The feasibility of expanded technological startup capital as progress is made. Sub-contractors also turn to businesses with Venture Capital (V.C.). This business will provide funding, strategic support, introduction to new clients, investors and personnel, and many more.
The funding of risk capital is not easy to access. Invest capitalists usually tend to invest in companies that have tremendous potential for success and still have some momentum, such as a working proposed product, an early recognition by consumers, etc.
Venture Capital
Sub-contractors also turn to businesses with Venture Capital (V.C.). This business will provide funding, strategic support, introduction to new clients, investors and personnel, and many more.
The funding of risk capital is not easy to access. Invest capitalists usually tend to invest in companies that have tremendous potential for success and still have some momentum, such as a working product concept, an early recognition by consumers, etc. It’s important to be mindful that the investment activities of risk capitalists are usually focussed on one or more criteria:
- Relevant sectors of business (software, digital media, semiconductor, mobile, SaaS, biotechnology, mobile applications, consumer).
- Company stage (early-stage seeds or rounds A or later of substantial sales and momentum companies)
- Geographic (e.g., Silicon Valley, San Francisco, New York, etc.);
Until meeting a risk capitalist, seek to figure out if the emphasis is consistent with your business and its growth stage.The second key to consider is that many V.C.s are flooded with unrequested emails. Investment opportunities. Nearly any unsolicited email is skipped. A warm presentation by one of the trusted colleagues or by another talented friend of the V.C. like a lawyer or a fellow entrepreneur is the perfect way to improve the performance of a V.C. It’s important to be mindful that the investment activities of risk capitalists are usually focussed on one or more criteria:
In order to draw V.C.’s attention, a technological startup must have a strong “elevator pitch” and a robust investor pitch deck. One should learn how to build a Perfect Investor Pitch Deck for companies looking for funding for more advice on this subject (and also a sample pitch deck).
Technological startups must also comprehend that the venture process can take a very long time – it can take weeks to meet a V.C. principal; to follow up on further meetings and conversations; to be followed up by the presentation to all the V.C. fund partners; to be continued diligently and to be followed by the issuing and negotiation of a term sheet;
Ways to attract investments
All but the least-trained angels will also want to diligently carry out an embryonic approach on the company and its products. The company’s intellectual property is of great value, and Angels expect the leadership team to take the steps necessary to protect the corporation’s innovative ideas. In an early stage, business people should communicate an intellectual property lawyer about the filing of patent applications, preferably before approaching investors. The well-drafted patent application contains broad claims that show prospect Angels, rather than just a specific individual with a limited range of uses, that the company develops a versatile platform for many applications. If collaborators and other partners have contributed to the Development of company technology, the contractor should ensure that they have assigned their aspirations to the corporation in any patentable discovery that can be incorporated into the products of the company.
Angels feel secure if the intellectual property rights in which angels invest can be asserted by third parties. Angels anticipate entrepreneurs to demonstrate confidence by investing alongside the angel in their business plans. After all, why then should angels endanger their capital in undertakings not financed by business owners? Even though angels are often able to write larger checks than entrepreneurs, they usually expect entrepreneurs to invest considerably in themselves. This is not only an illustration of the entrepreneur’s confidence in the future of the business: Angels understand that a businessman will work harder if his or her own egg is at stake to create a successful technological startup.
Common tools available to analyse the business planning process and their dependence on the nature of the business structure and the likely finance requirements
To analyze a business is one of the most important objectives in commercial field. Without the analysis of the business process, a company or business organization can never find out their drawbacks in the business process and so they fail to improve in business and to compete with the other business organizations (Mittal, et al., 2018). That is why, analyzing a business has a great significance in commercial research and development. It is clearly understandable that a concrete business planning process is greatly required to achieve development in the business process. To serve this purpose, there are some common tools available in the market. This tools are still dependent on the nature of the business structure and the like finance requirements which have been discussed in the following paragraphs.
Common tools to analyze business planning process
There are two basic common tools used in strategic planning for marketing and sales. They are namely:
SWOT Analysis
The term SWOT is an abbreviation of for fold analysis of business strategy. Those are Strengths, Weaknesses, Opportunities and Threats respectively. Strengths means the positive qualities in the business strategy with which the business may be developed and also how the competitors view the positivity of the said business organization. Weaknesses are the negative qualities in the business plan (Baker and Dellaert, 2017). Which should be minimized and also to analyze how the competitors look at the negativity of the said company. Opportunities are the points with which the strengths may be developed. Whereas, threats are the factors regarding the obstacles in the way of development of the business strategy.
PESTLE Analysis
The term PESTLE is the abbreviation of six fold field of analysis. Those are Political, Economic, Social, Technological and Legal. In all of these fields, the main motto of PESTLE analysis is to asking right questions, questioning can help to find out the drawbacks which are to be removed and also to discuss about the positive points which may be helpful for the development of the business policy (He, Tian, 2018).
There are some other tools also. Some commons tools are Porter’s five forces models, Mind Maps, Balanced Scorecard etc.
Dependence of the business tools
The business tools are dependent on two basic factors.
Dependence on the nature of business structure
There are several structure of business. Depending on the nature of business structure we have to choose different business tools. The different fields of business requires different kinds of developments (Campiglio, et al., 2018). Say a small business requires less numbers of objectives and hence less number of business tools and it will cover a small commercial area. In comparison, a large business will require more number of business tools and will cover a large area of commerce. There many types of business such as personal business, joint business, group business, multilevel business, insurance etc. All kinds of business require different and distinct business analyzing and planning tools as per their need.
Dependence on the likely finance requirements
Finance is a major factor in business. So, the business tools have a direct dependence on the financial requirements by means of payroll management systems (Bouveret, 2018). If a business is concentrated in a single field and SWOT is applied on the business for development of the strengths, detection of threats and hence removal of weaknesses in a single field of business, then it will require comparatively less finance but if a business will cover multiple areas by applying PESTLE analysis, then more finance will be required in the business. Also if the others tools are used, the financial requirements will vary accordingly.
Analysis of business is the gateway of its development. Using the business analyzing tools for the business planning process helps to avail better opportunities in business (Lopes, et al., 2017). More and more the business tool will be used, more will be the development. Research works are running to cultivate new ideas for betterment of business to obtain more fruitful result in the development of the business strategies.
Alternative management structures and the ways in which its operations might be organised: a brief understanding of some common business analysis tools
As the globalization is going on, the management structures in business are being varied. As a result, a number of alternative management structures have appeared in the marketing field for serving the purpose of business development (Mittal, et al., 2018). There are various ways in which these management structures are operated. The operational principles are considered as different business analyzing and planning tools.
There are some important common tools available in the market. Which have been briefly discussed in the following paragraphs.
SWOT Analysis
SWOT Analysis is accessing the current position of an organization before deciding any new strategy. The development and how well it is working. It consists of four objectives those are Strengths, Weaknesses, Opportunities and Threats (Baker and Dellaert, 2017). So a SWOT analysis is such a technique that deals with the accessing of these four aspects of business. The main motto of this tools is to make the most of what is obtained and eliminating the hazards to develop the business. Strengths are the positive side of the strategy, weaknesses are the drawback in the business plan, opportunities are the ways in which the business may be developed and threads are the obstacles in the way of development. Commercial field is competitive. So the organization must analyze their strengths as well as opportunities in the view of their competitors also. Hence, it is effective in business development.
PESTLE Analysis
This is another kind of analyzing business tool. It covers several areas of commerce such as political, economic, social, technological, legal and environmental. For a huge number of field coverage, it faces several questions (He and Tian , 2018). So, the management must choose the correct question. Once the problem can be found, it becomes easier to solve the problem that is to develop the business and to eliminate the drawbacks in the business. So, questioning is more important here. Asking the correct questions and finding the right way of solution the business strategy can obtain some developments. This developments are further emphasized later on.
Porter’s five forces models
This is a framework for analyzing competition of a business (Bouveret, 2018). It draws from industrial organization economics that driving five forces determining the competitive intensity. So the attractiveness of an industry in terms of its profitability. An industry which is unattractive in which the effect of these five forces reduces overall profitability (Campiglio, et al., 2018). Most of unattractive industries would be one that approaches pure competition. In which available profits for almost all firms are driven to normal profit levels. The prospective of five forces model is associated with is originator which is the Harvard University.
Balanced Scorecard
A balance scorecard is such a strategy performance management tool which is a semi standard structured report that can be used by the persons who are in management for keeping track of the execution of activities by the staff within their control and to monitor the consequences which are arising from these actions (Lopes, et al., 2017).
We have discussed here about different alternative business analyzing tools and their operational principles. It is a result of globalization. Human necessity and intelligence to find a suitable way out is proportionally correlated to each other (Campiglio, et al., 2018). So, research is the basic requirement. Finding new horizons of research will help the development in the commercial field with newer and better alternative business analyzing tools.
How to formulate a marketing and sales strategy
The UK has the fifth largest economy in the world and since the economy is largely based on service based companies and their dependence on ecommerce has increased. It would make sense for a tech company to be able to thrive in this market climate. In the current climate, the technology company should be a private company. It will decrease the liability and provide more security for the people involved in the company.
The Private Company will have to register with the Capital House and hire one director. This a prerequisite for any company to start their company, as it is a private company, the shares will be limited and not available to the public. The brand has more flexibility and the responsibility is squarely on the directors but this allows a leeway for the business to change up their style and work order without much interference and constant checking in from investors. Being a private company also opens the door to more funding options.
Since the company is a private company, the funding will be more significant than the other types of company. This gives resources to invest in the marketing the company will need to get a leg up. Since the UK is mainly working on a service based model. The B2C model of business seems to be the best option available to the company. The company must build brand interest and once the consumers start supporting and trusting the brand name, it will be easier to retain and promote customer loyalty. Nowadays most companies rely heavily on marketing to establish customer loyalty. And for various companies like Specsavers, Muzmatch and Jimmy Iced Coffee, the marketing has seemed to pay off.
One of the key focuses of marketing has to be social media. Sales will be made through an online platform. So it would make sense that the promotion can be done through social media. Campaigns based on holiday themes tend to do the best for promotion on social media. Everyday Social Media Interactions is a simple and effective way to engage the customer. This leads to customers retaining brand names better and being able to identify them when the need arises to use the company’s products; For example, Dennys and Dominoes have a renowned reputation on twitter to engage with the public on a range of topics from memes to politics. And this helped to create more awareness of the brand especially Denny’s which is limited to the USA but is known throughout the world due to their twitter exchanges. This seems to be a cost effective way to encourage brand recognition.
This is the mere start of the marketing process when the company is still lifting off the ground. The social media presence and the ads in local train stations across London and the UK should be a good foundation to spread the initial awareness of the brand. Since the product will be transported and seen mainly on a website. The target market can be men and women from 18-50. While the UK has become a mainly ecommerce dependent economy, the internet is used by about 10 million of the 29.8 million which is a cause for concern. But the number is expected to increase in the next 5 years. An advantage and trend seen in post Brexit UK is more consumers want to find companies that are british and are started by locals. This can give the company an advantage and help to increase customer loyalty.
The most important factor for most British consumers has been the price. If the price seems to be proportionate and economical. 50 percent of consumers are likely to prefer this brand for future purchases. Instead of spending resources, building a website for sales. The company can have a tie up with Amazon. Amazon is the company that is used for online shopping in 82 percent of British households. An exclusive tie up with Amazon could be a good way to build up brand interest among online consumers. As a long term plan, we can include loyalty benefits and schemes, this will help to promote Brand Loyalty. Most startups in the UK have seen this as a key factor for success in the various companies.
Another very important tool in marketing, which has been key for many companies to excel and able to win consumers from Generation Z has been their transparency. Generation Z wants to be associated with companies that are environmentally conscious, diverse in their staff hiring and are contributing to various social causes. Here is another place where social media could be very useful and act as a tool to show insight into how the company works and their goals and their objectives. The ease of access is a key factor as well, the product should be easy to get and this can affect sales. If the product or the means to access the product is too complicated, this will reduce the number of potential and loyal customers. This is why we need to assure the process of the sale is simple and convenient as possible
Involving the consumer in the process. The consumer on special occasions, can be asked to choose between two products or help to design the product as this will help to engage the consumer and increase publicity for the brand at the same time. This will help to empower the consumer and make them feel some autonomy in the process and thus have more trust on the brand. As this a start up, it is important to focus on the marketing strategies covered as they are low budget and have more impact. Most start ups in the Uk have been engaging the consumers as such and have seen incredible revenue and profit.
The key areas to focus are Social Media, Building a Brand loyalty and the procedure of sale. These areas will ensure the most profitable outcome for the company and will need less human resources and funds for maximum profit.
Labour Market
The basic points to be kept in mind while going through this topic are analyzing the labor market and accordingly taking steps, designing the job properly and specifically, appointment and selection to be done properly, equal opportunities should be given to all the labors. Salaries and wages of the labors should be kept in mind and timely incentives should be given to encourage their working skills. Fringe benefits and labor turnover should be given importance. Industrial relations should be improved and management should be developed( LBaum T. ed2016) Labors should be properly trained and job evaluation should be done properly. Employment laws are to be kept in mind
ANALYSIS OF THE LABOUR MARKET
Analyzing a labor market is a process of surveying the market to determine the salaries and wages are to be paid for like positions. In order to establish and adjust the salary ranges certain factors should be included like the results of market survey analysis, availabilities of funds, recruitment and retention indicators, and internal equality issues. The labor market is defined as the area within which employers compete for labor. Therefore the labor market is the place where the supply and the demand for jobs meet with the workers or labor providing the services those employers’ demands.
The labor market comprises of four components – The labor force population, applicant population applicant pool and the individuals selected. The labor force population refers to the number of skilled individuals who are available to work in the labor market.Applicant population refers to the people who are applying for a particular job that suits their requirement and skills. Applicant pool is actually the number of people who initially signified their interest to apply for the particular job by sending their resumes. Individuals selected is the final recruitment process where the individuals who have made it through the screening process and have been hired for the job. Therefore labor market analysis is an integral part of an organization’s recruitment process because it not only helps to find out the most skilled and deserving candidates for the jobs that it offers but also ensures that ir provides a competitive compensation package to its workers.
LABOUR MOTIVATION
A management should always have a a huge focus on labor motivation. Motivations lead a workers goal, action, and willingness to work, energy and creativity (Tsareva, N.A Vlasenko & Ivanuyga O.I. 2016). Though for a small business it becomes a problematic one but still entrepreneurs should be conscious of such difficulties because low workers motivation can lead to more dangerous problems like disinterest, discouragement, inferiority complex among the workers which may leads to huge crisis. In order to motivate the labors the management need to improve their salary structure, support and appreciate the workers efforts. Empowerment should be build among the workers.
At many companies workers with creative ideas do not express them to the management for fear that they may ignore or ridiculed. The sole work of a management is to find out these creative and innovative staffs in order to be successful. For all the championing of alternatives motivators, money still occupies a major place in the mix of motivators. The sharing of company’s profit gives incentives to employees to produce a quality product, perform a quality service or improve the quality of a process within the company. Therefore monetary incentive should be given to the workers to encourage them at their work place. Promotion of the deserving and skilled workers should be initiated as accordingly to motivate them for bringing future success.
LABOUR TURNOVER
Labor turnover is also known as staffing turnover refers to the ratio of a number of employees who leave a company through attrition dismissal or resignation to the total number of employees on the payroll in that period. These can be of four types- voluntary : where an employee leaves the organization on his/ her own choice. In voluntary- when the worker or employee is being terminated from the service due to certain reasons. Functional – when low performing employee are dent from the company in order to enhance the overall performance. Dysfunctional – when a skillful and deserving employee leave the company leaving the company in a bad shape.
For any organization to run and actualize its aim and objectives there is a need for work force that will drive the processes of the organizations(Akinyomi, O.J., 2016). The work force of any organization represents its employees. Basically, every employee of any organization is expected to continuously render productivity service to the organization and remain in that particular organization until retirement. But the reality is not the same and therefore leading to labor turnover. Employee turnover should be reduced as it very costly one, unwanted turnover affects the performance of an organization and as the availability of skilled employees continues to decrease it may become difficult to find out a substitute of that particular employee.
LABOUR RETENTION
Employee retention refers to the ability of an organization to retain its employees. Managing for employee retention involves strategic actions to keep employees motivated and focused so they prefer to remain employed throughout their life in the same organization. A comprehensive employee retention program can play a vital role in both attracting and retaining key employees as well as in reducing turnover and its related costs. Fairness and transparency are the fundamental and powerful concepts that can make a lasting impression on the employees. Respectful treatment of all the employees at all levels is required. Compensation should be given on time. Trust and bonding between employees and senior management should be very strong. Employees should not face job insecurity. Proper and fair opportunities should be given to the employees to use their skills and abilities at work.
Employee job satisfaction and engagement factors are the key components of employee retention programs. The payoff of focusing on employee retention in terms of increased performance productivity , employee morale and quality of work, plus a reduction in both turnover and employee related problems is well worth the time and financial investment.
A labor faces many problems while working in an organization. So in order to reduce labor turnover a program should be initiated to combine monetary reward systems and satisfies intrinsic, self actualizing needs may the most potent employee motivator. Employment planning should be properly done. Communication with the employees should be done carefully and tactfully. Employment terms and conditions should be mentioned clearly and employments feelings should be understand clearly and incentives should be given time to time.
Issues which may arise in the management of knowledge workers and of information management systems like ERP, CMS and CRM
In this modern era of globalization, when each and every work is both directly and indirectly associated with the abundant use of advanced technologies, gradually the entire management systems are operated by the workers highly skilled and experienced in internet operations. Regarding this extremely competitive environment, research and analysis leading to creative approaches to better support the information assets of knowledge workers is developing a critical importance.
Targeting to improve the organizational development and technological advancements, the workers are strongly dedicated in providing a qualitative research approach redirecting the use of semi-formal interviews and interviews is followed to this end. The final results of these continuous research process are both practical and theoretical. To ensure the best quality with the satisfied quantity of production, the management systems of the companies should always be taken care of the unwanted mishaps and the irrational issues.
Cloud computing, mobile device, social media play a significant role in thorough and steady growth of advanced digital work environment. (Tschiggerl, Sledz, And Topic., 2018) Though in these day the range of productivity and profitability is directly proportional with the extensive use of technological innovation but sometimes it provokes counter-production which can be regarded harmful for the further advancement of the company. This is the reason, still now most of the employees convey offline preferences than believing in online advancements.
The core difficulty of the knowledge workers are undoubtedly the information fragmentation. System integration is an absolutely necessary matter in processing information resources like emails, office papers, productivity hardware and software, storage devices, mobile accessories offline documents and web portals. Any unauthorized disclosure of these completely secured official legacies can lead to the serious damages to the management, not to mention to the company.
One of the most challenging aspect of the information management system is the task and technology management (Rikhardsson, And Dull, 2016). As it is an integral part of the organisation setting but if the provided settings become unable to fulfil the requirements of the workers for being overly downgraded and poorly maintained, it will be truly annoying for the said worker to continue his job within the proper given time.
Regarding organisational workload aspect, Email overload is considered as one of the biggest obstacles in regular office works. As it creates a mental distraction to the employees and sometimes also leads to the workers to miss the most important documents among the heap of junk data. Several studies also show that, the various methods of data collection and analysis can also be proved as the error judgement for the company. The ancient and improper method of collecting data and analysis will leave the possibilities of failures and uncertain disasters. Also the lack of flexibility in creation and innovation and absence in error correction can also be harmful for the knowledge workers to be the most fruitful aspects in the information management system.
Possible impact of emerging technologies on future trading legal, regulatory and compliance issues.
This is an age of fostering innovation, in which the tremendous success of technological advancements are creating new possibilities new innovations in every tiny opportunities. That is why in this age of rapid growth of advanced hardware and swift software operations, when the whole world is turned into a single potential job market, every organisations are bound to be competitive in order to survive this volatile workforce atmosphere.(Roy, 2018). Advanced technologies like, artificial intelligence, distributed ledger technology, machine learning, big data analytics play the key role in the determining the ruling business developments to successfully conquer the war of survival and secure a probable long lasting position in the global market.
Though, these technology giants are invented to provide us all the necessary and not to mention luxury lifestyle by creating an ever changing virtual world to fascinate us with the unimagined possibilities and incredible opportunities but it has also its own boundaries and disadvantages.
Sometimes the users have to face the unauthorized regulations, false or masked operations ,technological mishaps which sometimes considered as one of the biggest threats of the virtual world.(Haas, 2018). So before engaging the modern technologies in the business orientation, the management must have been gone through all the possible malfunction and security authorizations, otherwise the engagement of technological innovation might be the proved to be the reason of the complete devastation of the core processor of the company.
While the exploration of the potential advancement in the technological shift from regulate to forget can enhance the chances of a better responsive and creative approach. The regulatory sandboxes are one of the striking features of the prototype and test modern approaches by rendering accelerators and sandboxes. International and National alignment in regulations provides better collaborative opportunities by engaging a broader set of performers across the ecosystem. The researchers have identified certain factors which can be emerged as the challenging obstacle for the employees to beat down, based on the situational need. Existing regulatory agencies gradually become risk averse (Dalkir, 2017).. Rapid growth and wide range of accessibilities strikes the key tone of further betterments and visible improvements. Ride hailing service have faced tremendous hyper growth and development as rules and regulations in the space struggle to adapt and achieve (Greenbaum, And Kyng, 2020). For these reasons, high visibility industries introduces new economical and political aspirants and also investor pressures. If regulations reforms the launch of new firm and organisations it will be undoubtedly strangles their further growth and formation.
Many complex national regulatory systems promote the overlapping authority with various responsible agencies and as the result the trade friction lies at the very core particle of advanced trade agenda by exercising redundancies and advanced patchworks of laws, merits and not to mention rules and regulations. The National and International collaborations and coordination are regarded as the biggest challenges and also as the way of larger possibilities to be cropped up to serve as independent standards creation bodies that provides and promotes the unique and global needs of growing technology sectors.
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