Analysis of Organizational Theory Article Example | Topics and Well Written Essays - 500 words

Analysis of Organizational Theory - Article Example In business world saving time means saving money. So project managers problem is how to save time? So that they can save extra labor and power consumption which in turn results in the reduction in costs. Feasibility study plays an important role in the project development process. The feasibility study is nothing but an assessment of the product being developed in terms of the outcome, operational use and technical support in implementing the product. The criteria for feasibility study are economic feasibility, operational feasibility, and technical feasibility. The benefits or outcomes comprise economic feasibility. The total expenditure incurred in the development of the product is derived from the outcome of the product. Developing a product means changing from the old system to the new system. Development of the new product reduces processing saving the time, labor and power. In the new product, errors can be greatly reduced. Operational feasibility refers to the feasibility of the product to be operational. Technical feasibility refers whether the product supports the present market or not. It further refers to the pros and cons of the development. If the project management is unable to make significant changes in the new product then its going effect final outcome, which may result in client canceling the project. Developing a system that is more or less same as the older system is not conducive to the organization's future development. Products that work well at designing phase may not work in the implementation phase i.e. in the real-time environment. To make it work additional human resources and technical expertise may be required, which may take time and increase costs. The products developed by the organizations were tested again and again before introducing them into the real market. Generally, the products that work at initial phases fail at intermediate or final phases.

Role Of The Internet In Business Essay Example | Topics and Well Written Essays - 500 words

Role Of The Internet In Business - Essay Example The Internet helped business in enhancing communication facilities. It is easy for Bill Gates to control his business activities in China or India, staying in New York. The Internet provides instant chat, audio and video conferencing like communication facilities so that it is easy for an executive in America to communicate instantly with his subordinates in any parts of the world. Outsourcing is a new concept developed across business circle because of the development of Internet-related technologies. It should be noted that in America and European countries, the labor cost is extremely high whereas, in India or China, it is extremely low. Thus, Chinese and Indian products are cheaper in the international market compared to that of America or Europe. This is really a problem for American and European companies. Outsourcing helps, these companies to exploit the cheap labor in overseas markets so that they can compete effectively with Indian and Chinese companies. The development of E-commerce is another contribution of the internet to the business world. Online business is growing much rapidly than offline business according to many studies. Offline business cannot provide the convenience of online business. For example, in order to purchase certain commodities, a consumer has to visit shopping malls. For employed people, it is difficult to spend too much time for shopping purposes. Such people can purchase goods while resting at home with the help of internet. Moreover, e-commerce helps a person to purchase goods from the international market. In other words, he can search for better options with the help of the internet before purchasing a certain item from the global market. Such facilities are not provided by offline businesses. Advertising is a major business function, which helps organizations to promote their product.