This is a report on how to manage business operations. It handles three key issues: how the new models have changed the way of doing business, the critical issues facing small businesses today and qualities that make me an entrepreneur capable of overcoming these issues. How the New Modes have Changed the Way We do Business Today
With the rise of globalization, there have arisen many ways of doing things other than the traditional and conventional way. In the business world, many models have emerged such as franchising, direct sales, distribution, retail, bricks and clicks, brokerage, affiliate business model, subscription business, utility, value networks, strategy diamond, advertising, merchant, infomediary, direct manufacturer among many other models. To mentions just but two, this paper will discuss affiliate business model and direct manufacturer. The traditional channel of distribution moved goods from the manufacturer to the distributor, the wholesaler, retailer and the final consumer. However, research has shown that this channel does not improve the quality of the product but instead increases the cost of the product. The new model of direct selling therefore moves the products directly from the manufacturer to the end consumer. As a result, this has increased the productivity of emerging small businesses. The other new model, affiliate marketing, involves generation of traffic onto a site. It has therefore changed the way business is done by providing the people who surf the site with an opportunity to buy whatever is advertised there. Other ways through which the new modes have revolutionized business doing is through improving efficiency and the speed with which products are delivered. One is able to buy something online, pay through internet for its shipping and further pay through mobile phone money transfer for its delivery at his or her home. Some Critical Issues Facing Small Businesses Today
Today, small businesses are faced with many critical...
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