Running Head: BUSINESS MANAGEMENT

Business Management

Contents Answer: 1 3 Internet technologies and Robotics 3 Answer: 2 6 E-Business 6 Glam Media Inc 6 Competitive Threats for Glam Media, Inc 7 Threat of new e-commence Entrants 7 Threat of New Digital products 9 Threat of New Business Models 10 Sell-side Threats to Glam Media’s Business 11 Customer Power & Knowledge 11 Power of Intermediaries 11 Buy-side Threats to Glam Media’s Business 12 Power of Suppliers 12 Power of Intermediaries 12 Answer: 3 13 Crowdsourcing 13 References 19

Answer: 1
Internet technologies and Robotics
In this technological and more competitive business scenario, internet technologies play a significant role in the organizations in order to accomplish their goals & objectives in an effectual manner. For instance, these are helpful to store & protect confidential information about the business in an effective manner. In addition, information technology improves the efficiency of company via develops an automated process to reduce the burden of the employees in a significant way (Sobh, Elleithy & Mahmood, 2008). But, in the next 10 years, internet technologies as well as Robotics will change the overall marketplace in an effectual manner. For example, these will have an effect on the job sector of a diverse market. With the help of internet technologies and robotics there would be incising in the jobs of different sectors such as: finance, service, manufacturing, hospitality, etc.
Along with this, in the upcoming year, the robots will be associated via the internet to carry out a lot of tasks of the businesses effectually at the global level. In addition to this, it is also noted down that, the open source proposal will also permit robots for the task automation to diminish the responsibilities of the employees as well as management in an effectual way. For illustration, the robots will complete numerous precise functions of an organization in a more comprehensive & inclusive manner (Hemal & Menon, 2011). Apart from this, robotics will also allow with a specific internet connection via the open source platform to spawn, assemble, allocate, and reuse the data and information in an effective & an appropriate manner. In this way, it reduces the needs of workers to execute these kinds of activities. Apart from this, it should also be noted down that, in the next ten years, the combination of internet technologies and robotics will reduce the number of jobs in an effective manner, it means that there would be fewer jobs in contrast to today. The main reason behind it is that, with the help of latest information technologies, robotics will distribute, gather, produce and reclaim the data as well as information in a more ample manner (Zhuang & Lederer, 2006). Along with this, it is also observed that, robotics will also play a significant role in order to solve the intricate as well as the complex task with the help of information technology. Moreover, robotics will also perform the functions or tasks that were not clearly planned for at propose time. In the same manner, in the next 10 years, robotics would be related via the internet connection in order to execute clerical as well as industrialized task in an effective & significant manner. This would persuade the job accessibility in the marketplace because the mishmash of internet technologies and robotics will diminish the diverse kinds of industrial as well as manufacturing jobs or tasks in an effectual way (Rodriguez & Rodriguez, 2005). At the same time, it is also found that, in the next 10 year, business organizations will adopt and implement different types of industry robotics software in order to complete the different services as well as function in a most energetic manner. Furthermore, in the next years, there will be an atmosphere associated with the industrial robots that will be conscientious performing industrial job in an effective way and there will be no issues as well as challenges to complete the task. Along with this, the revelation of robotic automation contains the make use of developed robots in industrialized and also restrain the use of program robots in automating accounting processes in services business. In addition to this, it is also observed that, in the upcoming years, robots will determine, swap, and use again information in an effective way that will assist the business organization to perform the complicated task in a more creative and dynamic way (Sobh, Elleithy & Mahmood, 2008). Apart from this, in order to understand that how robotics executes a task in an organization as well as industry is an important truth for the businesses. Moreover, with the help of an example of hospital sector this fact about robotics can be recognized in an effective and significant manner. This example of a hospital would also be helpful in order to understand that business sector as well as jobs that will be influenced via the widespread accessibility of robots correlated through the internet in order to offer task automation in an effectual way.
In the hospital premises, the room would be pre-plan so that the robots can provide the drink to a patient in order to hand out a patient with an effective & significant way. In this way, an easement as well as methodical program will be considered dissimilar valuable tools to grip this situation in an effectual way. For example, position the drink, pilot to its locality, snatch it, pick it up, put the patient in the bed, steer to the patient and at the last hand over the drink to the patient in an effectual way (Hemal & Menon, 2011). Moreover, it should be noted down that, in task execution this robot monitors and logs its advancement and continuous revisions and expands its rudimentary, pre-programmed world form with additional data. Along with this, robotics revises as well as affixes the position of observed things. Furthermore, it measures the messages of records with its authentic insight. In addition, it monitors successful and failed happenings in a significant manner with the help of its task appearance.
At the same time, if robots are not proficient in order to realize a task than it requests a person to help as well as amass latest information. The robot fractions its obtain knowledge via uploading it to a Web-style catalogue at the ending of its task presentation (Zhuang & Lederer, 2006). In this way, it can be said that, in the next 10 years, the overall success as well as the growth of the business organization and industry would be based on an effective recipe of technologies and robotics. Hence, there will be superior use of different technologies and robotics in upcoming years that will relocate jobs in the different sectors.
Answer: 2
E-Business
In today’s computerized scenario, the overall success of a business organization depends on the E-Business. The e-business is a precise application that is allied with the information and communication technologies to maintain all types of business practices as well as activities in an effectual manner. Additionally, an organization accumulates costs and improves their productivity with the assist of electronic mode of business (Singh & Waddell, 2004). This appliance is helpful to erect a strong relationship among the organizations, individuals, societies, and groups in an effective & comprehensive way. In addition, with the help of e-business models, business firms are connecting their external and internal data processing system in order to work more intimately with suppliers & partners, and to satisfy the needs & the expectations of their customers effectively.
Glam Media Inc
Glam Media, Inc. is a global leader company in the Internet, media and fashion industry. Silicon Valley instituted initiated this company in 2004. It offers quality services to the customers to satisfy their expectations in an effective way. In addition to this, revenues as well as productivity of Glam Media also make it a global leader in the media industry (Glam Media. 2013). Moreover, the company also has a precise strategic vision & mission that helps it to accomplish competitive advantages over the competitors in an effectual way. Along with this, there are approximately 4000 lifestyle websites & blogs of the company that are served up all the customers at the global level. Moreover, the company also offers inventive as well as dynamic products or services with the digital substance. In this way, the company is one of the largest and global leader players in the world.
Competitive Threats for Glam Media, Inc
In this more challenging era, business organizations adopt and implement a lot of models, strategies and processes in order to recognize their positions in the allied industries. Along with this, competitive threat is an imperative tool to identify the business position and to recognize the factors that influence the position of a company in the marketplace. Moreover, in this research study, with the help of the competitive threat framework, the overall situation of the Glam Media, Inc. in the related industry and the major factors that are influencing the growth, function and business activities and of the company in the market will be analyzed (Barnes, Hinton, and Mieczkowska, 2003). Along with this, the model of competitive threats also pacts with the dissimilar elements or factors that have a direct demeanor on the presentation, function, performance and activities of the company. The model is as follows:

(Source: Picard, 2010)
Threat of new e-commence Entrants
The regular improvements in technologies make the current business era more competitive as well as uncertain for the business organization. The major reason behind it is the competition in the global marketplace. For example, the latest as well as cheapest technology compels the organization to penetrate into another market to enlarge their business at the global level to achieve higher revenues in an effectual manner (Livshits & Zimmermann, 2005). At the same time, the enormous competition in this industry also affects business, function, process and activities of Glam Media in a negative manner. The vast competition compels the organization to lessen the cost of their product as well as services because their competitors are offering same products or services at the lesser prices in this industry. In this way, this is the major threats in the Glam Media in this more competitive era.
Apart from this, there are numerous competitors such as: Fashionspace, iVillage, Yahoo, Bloglovin, Condé Nast, AdKiwi, etc. of Glam Media those are diminishing the profitability, marketability, productivity, and effectiveness of the Glam company at the global level. In addition, these competitors adopt and implement different modes and strategies of the e-commerce in order to accomplish competitive advantages over the competitors (Rasmussen & Williams, 2006). For instance, most of the competitors of Glam Media are using internet services to retort their customer in an effective & dynamic manner. In this way, the use of internet services via the competitors is generating numerous issues for the company that have a vital impact on the business activities & functions of the company
In the same manner, the competitors of Glam Media also adopt as well as implements those processes, strategies, methods and tools that Glam Medial uses to enlarge its business at the global level. The use of internet is increasing on the regular basis due to its cheap cost and other advantages. In this way, there are copious threats related to the competition, have an effect on the function of this company in this market in a negative manner (Scherer, Bänziger & Roesch, 2010). Apart from this, in this industry, entry barriers are medium and exit barriers are low. So, the new business firm requires high investment to enter into this industry. Furthermore, the capital requirement is lofty but customer reliability is stumpy in this industry. Therefore, switching costs and profitability level is high in this business region.
Threat of New Digital products
At the current time, new digital products are also the major threats in the Glam Media. For example, the competitors and new business firms are launching the new digital products in order to diminish the cost of their products as well as services in an effective & significant manner. Along with this, with the help of new digital products, competitors as well as new business firms are making their product and services more attractive to the customers (Veres, Molnar, Lincoln & Morice, 2011). In the same manner, the competitors and business firms also exploiting the number of digital products in the market at the lowest cost that is affecting the brand reputation of this company in a negative manner that it provides same services or products at the higher cost. As a result, it is one of the most considerable threats to Glam Media.
At the same time, it is also observed that, the new digital products that are produced and launched via the competitors of this company also reducing the demand of the products as well as the services of Glam Media in the marketplace. In this way, to solve this difficulty, Glam Media should inaugurate the new digital product in order to achieve competitive advantages over the competitors in an effectual & significant way. For instance, the key competitors of Glam Media are escalating the number of digital products in the market in order to develop organizational effectiveness in a comprehensive manner (Rasmussen & Williams, 2006). In this way, the boost in the number of digital products via the competitors is a serious issue for Glam Media in this industry. Hence, in order to solve out this issue in an effective way, Glam Media should initiate new and novel digital product to attract more customers for their product as well as services in the global market place. Along with this, Glam Media should also espouse new method of technology and should focus on the decline of cost to retort these types of threats in a proper & significant manner.
Threat of New Business Models
New business models and prologue of innovative business models is another major and serious threat to the Glam Media in the business. This symbolizes that a large number of competitors are adopting as well as implementing new models of business to understand their customers and to achieve competitive advantages in an effectual and significant way. Apart from this, it should also be noted down that, the competitors of Glam Media are assuming these business models to enlarge their business in the global marketplace. In addition, these new business models also enhance the organizational efficiency of the competitors in an effectual way (McFarland, 2013). Therefore, the more use of a business model via its competitors is one of the precise as well as serious threats to Glam Media. Along with this, it is also observed that, the raise in the uses of business model reduced the demand of the products and services of Glam Media at the global level. In addition, these threats are also falling the number of customers of the company. Apart from this, Glam Media is diminishing the price of its products and services vigorously that is improving the cost of the company.
At the same time, Glam Media should also focus on the use and the prologue of the new business model in order to amplify its productivity, revenues, profitability and marketability in the global market in an effective as well as proper way. The adoption of new business models also provides competitive advantages over the competitors and also creates brand reputation at the global level (Allen, 2011). Along with this, to defeat these types of threats, Glam Media should execute as well as implement a new business model in an effectual manner. Furthermore, with the help of new business models, Glam media will be proficient in order to boost the number of customers in the global market and it would also attract & retain the customers in order to use its products and services to fulfil their needs effectually.
Sell-side Threats to Glam Media’s Business
There are numerous sell side threats that influence the business activities of an organization in a negative way. These threats are described as follows:
Customer Power & Knowledge
In this more complex environment, Glam Media is also facing a lot of sell-side threats in its business. For instance, the organization is suffering the threats of customer power as well as knowledge of information. The increasing use and impact of the electronic swapping is the main reason of these types threats. Apart from this, an increase in the bargaining power of the customer is also generating the sell-side threats to Glam Media because they are utilizing internet facilities to measure the products and to evaluate the prices in an effectual manner (Smith & Chaffey, 2012). In this way, the internet services are increasing the power as well as knowledge of the customers in order to recognize a product or services in a significant manner. In addition to this, it should also be noted down that, with the help of internet facilities, customers are acquiring the valuable as well as essential information about the products as well as services in order to fulfil their expectations in a proper manner. In this way, customer power as well as knowledge is also becoming a major threat to Glam Media in the international market.
Power of Intermediaries
In this competitive ere, the number of intermediates is increasing on the regular basis and it is influencing the productivity as well as profitability of the company in a negative manner. So, the power of intermediaries is also a major threat to Glam Media that is affecting its reputation at the global level. The main reason behind it is that intermediaries charge amount in the appearance of commission (Garcia, 2007). Along with this, there is greater competition in the market that is generating the situation of misunderstanding, conflicts, and miscommunications amid the parties. In this way, it is a serious threat to Glam Media that is creating challenges as well as issues for the company in this industry. These types of threats diminish the profitability, productivity, revenues, and brand reputation in the international market.
Buy-side Threats to Glam Media’s Business
There are a lot of buy side threats that persuade the business activities as well as function of a business organization in a negative manner. These types of threats are discussed as below:
Power of Suppliers
At the current time, the power of suppliers is an opportunity for the Glam Media Inc. in order to expand its business in the international market. The company adopt and implement an effective supply chain to enhance its productivity as well as profitability at the global level (Sounderpandian & Sinha, 2007). Apart from this, the suppliers of the company are using electronic devices and internet services in order to execute their tasks & responsibilities in a significant manner. In this way, the power of suppliers is a major prospect for the business organizations.
Power of Intermediaries
This is also a major threat to the company. For example, there are numerous intermediates that execute their functions for the organization. But misunderstanding, conflicts, and discrimination among these intermediates is becoming a major challenge and an issue for the company that is influencing the revenues, productivity, growth, and success of the company at the global level (Smith & Chaffey, 2012).
Hence, there are various kinds of threats that are influencing the overall growth as well as the success of Glam Media in the media commerce. In addition, in order to visage these threats the company should adopt and implement innovative techniques and methods in a more comprehensive way.
Answer: 3
Crowdsourcing
In this technological scenario, crowdsourcing is innovative and systematic online problems solving technique as well as approach that are used via the financial organization to carry out semi automate financial industry allied task in a significant manner. At the current time, the hasty up-gradation in the technology is making the business era more complex as well as challenging for the organization (Libert & Spector, 2010). Along with this, these new technologies & techniques are obliging the organization to espouse innovative strategies as well as methods to accomplish the competitive advantages over the competitors. In this way, most of business organizations are adopting and implementing crowdsourcing to realize sustainable competitive advantages and to improve efficiency, value, marketability, prosperity, and reputation of an organization.
Along with this, financial institutions & organizations also adopt and implement crowdsourcing to execute semi-automate financial industry related tasks in a significant manner. In addition, crowdsourcing is mainly used via the financial organization such as: banking institution to carry out difficult tasks in a more systematic and comprehensive manner (Shankar & Levy, 2011). Apart from this, there are several platforms such as: Crowdfunding, Microtasks, Crowdsource Design, and open Innovation of crowdsourcing that are also engaged & exploited via the financial institutions as well as business organization. Furthermore, crowdsouring also play a significant role to analyze the needs and wants of their customers about any particular products or services.

(Source: Grier, 2013)
Moreover, crowdsouring also offers a lot of tools to the financial organizations in order to recognize the view of their customer and to improve overall organizational competence at the lower cost. For instance, with the effective use of crowdsourcing, the bank or other financial organization renovates their business processes and shine their brands in an inclusive manner (Sui, Elwood & Goodchild, 2012). In addition, the crowdsourcing platforms make the organization differ from their competitors so, financial organizations are improving their market aptitude via using various explicit techniques of crowdsourcing effectually.
At the same time, the different methods and techniques of crowdsourcing are also realized via the financial organization in a different way. For paradigm, financial firms are relating crowdsourcing with the social media strategies to tie in an ongoing discussion with targeted customers, employees, and stakeholders in order to collect deeper market insights and ideas effectively (Brabham, 2013). Furthermore, it makes enable to the finance business organization to work together with the online community. Hence, with the help of crowdsourcing, financial organizations are increasing their productivity & profitability on a regular basis.
Along with this, there are numerous activities such as: idea posting, challenge posting, and Co-creation & Social Media Sharing, that the financial organization should do to exercise the crowdsourcing platform in order to execute semi-automate financial industry related tasks in an effective manner. Moreover, the financial institutions should utilize different methods and innovative strategies to exercise crowdsourcing platform in order to perform semi-automate financial industry associated tasks in an efficient manner (Schall, 2012). These strategies are described as below:
Be Explicit: The financial organization should be specific with the help of crowdsourcing platform. For instance, if a company is glancing for judgment on a design than the organization should be specific about the different kinds of error (Young, 2013).
Don’t be Inexpensive: The crowdsourcing techniques are too cheap that decrease the importance of crowdsouring. So, the financial organization should not be too cheap in the adoption of the crowdsourcing techniques to fulfil their objectives in a significant way (Sobh, Elleithy & Mahmood, 2008).
At the same time, there are various strategies and methods are used through the financial institution to espouse as well as implement crowdsourcing within the organization in an effectual & significant manner. In addition to this, implementation of crowdsourcing is also helpful in order to accomplish goals & objectives in a specific time period (Libert & Spector, 2010). Furthermore, the process to develop a crowdsourcing within a financial organization is described as follows:
Stage I: Navigator within IT
In this phase, an organization involves the following steps in order to develop crowsourcing in an effectual manner.
Establish Scope: This is a precise step that is useful in order to describe the probable scope, profits, and advantages of crowdsourcing within a financal organization.
Employ An IT Idea Management Manager: In this step, a financial institution should assign an IT coordinator to commune the scale of crowdsourcing in an effectual & a significant way (Shankar & Levy, 2011).
Acquire Software: A financial organization should adopt as well as implement open source software to lessen the initial implementation cost of a crowdsourcing.
Set Procedures & Prospects: According to this, the financial organization as well as IT expert should set procedures and prospects for the effective implementation of crowdsourcing within the organization (Livshits & Zimmermann, 2005).
Converse with the Society: In this step, the management of company should communicate with the society to express their decision and reasons to adopt & implement crowdsourcing.
Engrave Training Objects: The financial institutions should write training materials in order to educate communities on the procedures and implementation of crowdsourcing (Zhuang & Lederer, 2006).
Obtain Response from IT Leadership: The Company should also collect a feedback about the recital of implemented crowdsourcing technique.
Stage II: Associate with another CSO In this phase, the financial organizations colleague with other central service organizations to achieve competitive advantages and to enhance the productivity as well as profitability of the organizations with the help of implementing crowdsourcing technique & the approach (Hemal & Menon, 2011).
Stage III: Enlarge to New Regions of the Association This stage is the final phase of the implementation process of a crowdsourcing technique as well as approach within the organization. Apart from this, this stage affirms that, once a hazardous accretion of companies is using the crowdsourcing platform in a dynamic manner, then the financial institution should conscript an idea management officer in order to execute roles and function of an organization in an effective and significant manner. For instance, the idea management should distinguish discovery opportunities that depend on the portfolio of the company (Sui, Elwood & Goodchild, 2012). In addition to this, it should also amass the major notion of portfolios and also identify positions of collaboration and improve it in an effectual & significant manner.
Apart from this, crowdsourcing also perform various significant roles and also provide a lot of innovative advantages to the financial service organizations. For instance, crowdsourcing makes enables the banking as well as financial institutions to ensure about the accurateness of the data, normalization, and neatness of information (Brabham, 2013). Along with this, with the help of crowdsourcing approach, financial institutions are able to achieve more competitive advantages over the competitors in an effectual manner.
In addition to this, Commonwealth Bank is the biggest example that is implementing the crowdsourcing approach in this more challenging as well as competitive era. For instance, the crowdsouring technique makes facilitate the Commonwealth Bank to accomplish competitive advantages in an effectual manner (Schall, 2012). In addition to this, the crowdsourcing technique permits the customers of the Commonwealth Bank in order to post, select and converse about ideas on the new innovative products or services to improve the efficiency of the organization in an effectual way.
At the same time, it should also be noted down that, Cosmos Direkt Ideen-Forum is one of the biggest & inclusive leading players in the insurance industry that is implementing the applications & platforms of the crowdsourcing in an effectual manner. Furthermore, the crowdsourcing platform of this company is also playing a significant role to invite the customers to estimate insurance products for the benefits of the customers and the organization also (Young, 2013).
In the same manner, the other example is Sberbank that is using crowdsourcing platform in order to perform all the business activities in an effective and suitable manner. This is a worldwide banking institute in the Russia. But Sberbank faces a lot of issues and challenges via using the crowdsourcing platform within the organization. For example, high cost as well as technical issues were the major challenges that were created via the crowdsourcing platform. These issues affect the overall success of the bank in a negative manner. Furthermore, crowdsourcing was also failing to offer specific information to the customers as well as organizations (Libert & Spector, 2010).
In this way, it can be said that, crowdsourcing technique as well as approach totally changed the silhouette of global financial industry in the marketplace. Along with this, it is also analyzed that, banking institution, financial services organizations, insurance companies, etc. are accomplishing numerous advantages with the help of crowdsourcing platforms in an effectual & significant way. In addition to this, it is also observed that, the different kinds of crowdsourcing program make enable to financial companies or other organizations in order to create or develop an effective system to perform all the business activities in a dynamic manner. Therefore, in this complex era, business organizations are improving the customer reliability and achieving competitive advantages with the help of an effective crowdsourcing platform.

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