1) Key developments of Business area itself
a) effects of technology(along with an example)
b) effects of business marketing
2) Developments of business studies over the last 30 years a) Influences of technology in business studies b) Changes of teaching skills 3) Expected developments of business area itself and methods of study in next decade
Business, in general, circles around certain activities which are business strategy, motivation, growth, innovation and making profit.A business, also known as firms or enterprises, is an organization which participated in selling goods and services in order to make profit as well as maintain their position in the market that they involved in. However business may also be non-profitable or state owned such as charities, foundations etc. Over the last decades global businesses in general, have reached its highest and the lowest points which were caused by inflation, unemployment, share markets and so on. However there are key developments in business over the last three decades whether it is in public sector or private companies.
1. Business area itself
First major development in business whether it’s public company or private company, technology could be the main development over the last three decades. Change in technology embodies developments in both what is being generated by business sector, and how it is being done.
Effects of technology in business development
Technology applications in business are significantly changing and being developed all the time. In electronic markets such as computer devices, mobile phones and TV’s loads of products are being launched every month. According to Business Studies, Second Edition by Ian Marcouse:
Key applications of technologies are:
CAD has been used for over twenty years however, is nowadays price and power ranges are more suitable for people who are in necessity such as architects, designers and an engineers
The purchase of industrial robots in the UK continues to increase as more organisations automate their production of electrical goods proceedings. World Robotics Report illustrates that sales of industrial robots were increasing until the worldwide recession 2008/2009. It also notes that “there will be a complete recovery in sales by 2013”.
Internet is the one of the most noticeable technological improvement in recent years. The use of internet could be the major revolutionary movement of the way companies and firms connect and the way they run their business. More consumers access the internet, more business possibilities shall rise up on the field. Globally, there are 241 million people counted as active home web users.
Effects of marketing in business development Marketing is the line of action of knowing about your consumers and opponents on the field, so you will be able to supply the right products at affordable price in the decent place and find the right path to fulfil your business goal. A successful business ought to acknowledge their customer needs, desires, habits and behaves. However, this could be easier for small businesses. History of business marketing is more recent than any other subjects that evolve around the business. In his Fundamentals of Business Marketing Research, PhD J.DavidLichtenthal notes that “Industrial marketing has been around since the mid-19th century, although the bulk of research on the discipline of business marketing has come about in the last 25 years”. Means it proves that business marketing could be one of the key developments in business over the last thirty years. In this essay I will consider more on
I. Market research
Researching into new market
Starting point is to explore the marketing fundamentals such as face-value of sales were made by business institutions within a market, then the next