We must acknowledge the radical changes in the 21st century businesses.
Although American is only a few hundred years old, American people inhibit many great qualities in them. They become role models for European businesses. Holding a US passport gives the holder a good credit. On the literature front, new literature continues to evolve, building on top of the previous ones, and the ones before the previous. A body of knowledge continues to grow, thanks to its family settings that encourages learning, thanks to its education system that facilitates analytical thinking, all the factors far less popular in Asian environment, especially in Thailand.
The writer believes that mankind inherits may greatness in them, and above all, possesses the ability to think and create, both of which are essential for our survival. Admittedly, in the field of technology and literature, we study and learn a large part of them from the Americans. Whether or not we are able to catch up or compete with them depends on our change process—the way we utilize all the resources we have, how we coordinate and integrate our thinking process as well as our focused efforts in every system. It depends on people’s devotion and shared vision, wisdom, the right virtue of the nation to arrive us at a different future. With the changes that happen in the 21st century come uncertainty, worries, doubts, and increasing pressure of the way we go about doing businesses. For example;
- To what extent that technology affects the conventional business world in the short and long times?
- Will baby-boomers executives and generation X be able to compete withexecutives form generation X?
- Will the progressive expansion of service providers groups write off the conventional business group (physical location) or alter them in cone ways? What would happen to people when most of the businesses are done online?
Those concerns are real and mounting every passing day from the information and the study I have gained from the internet (e-mail, online newsletter, leading magazines, internet research company). Essentially, business, as we know it, are being revolutionized by 2 things: the Internet Revolution and the Genetic Revolution, causing a big shift in the business world and organizational management. Organizations start to evolve into what is called “DotCom Organizations.”
“DotCom Organization”
What DotCom Organization: If you follow changes in the world of business, you will find that:
- Ford, GM and Daimler-Chrysler create an internet system to fully tab the e-business in supplying spare parts. They are will to patronize this system to other businesses too.
- Outsourcing business is experiencing a rapid growth. At the same time, India, with an advantage of its English-speaking workforce, is taking over downstream supporting businesses once dominated by Westerners. They are willing to accept lower pay. MIT’s top computer guru predicts that India will ha-she a GDP of U$ 10 billion in the next few years.
- Software and service businesses will be the sectors with high growth in the next decade, which also means that many of the manpower will be replaced by computer, shrinking the need of business to depend on human beings. For example, Amazon.com employs about 100 people, all of whom work in software development. Tom Peter predicts a phenomenon that in the next 10-15 years, 90% of the “White-Collar People” will be replaced with “White-Collar Robots”, and the rest 10% of the people in the organization will comprise of those in “Generation Y”.
In summary, DotCom Orgnizations will be a new organization format of business management in the internet era.
What DotCom organizations look like?
The idea of DotCom organization is about having a business website to generate a new source of revenue. In doing so, all the systems in the company must be internally integrated and be more externally compatible. Besides, in order to keep the web business running, the company also requires a full body of digital knowledge and the ability to provide valued-added services to its online customers. Therefore, running a business is no longer about satisfying the customers or simply running a website, In fact, it will be an art to integrating these two together.
So, the essence, that is to say, the DNA of DotCom Organization, is that companies are organized as web-based organizations—the domain name.com format—that supports B2B business, rather than just B2C business.
Also, stratagem of DotCom organizations are electronically focused, comprising how to develop knowledge, skills, competency into Intellectual Capital (Knowledge Management); managing Customer Relationship Management (CRM). In terms of marketing, emphasis would be placed on providing superior softwares and services. Selling will have no boundary; sales promotion will be a two-way communication which enables greater real time interactions between business and its customers. Price would be more openly quoted i.e. by auction. Supply chain would shift upwards to the Global Valued Chain (GVC), which is characterized by connecting the local supply chain, moving them up globally through the WWW. The objective is lower cost, speed up production, and shorten delivery lead time.
Working people in DotCom organization are basically “new generation”. Speaking of this matter, I once came across a Thai MD who was quoted for his staying “After 8 months for this company, I think I can spend a few more years working for it”. There are something wrong in his words. First, how could one possible measures one’s own performance and determines if one is successful. It is for other people to judge whether you are successful or not. Secondly, it doesn’t take that long to tell if one is a successful MD or not, perhaps only 3 months are enough. A very clear example is Rick Wagoner, the current CEO of General Motors. At only 47, he was appointed to the post. Now you may see that in new generation organizations, success is tangible and measurable within a short time frame. Moreover, it also comes faster than it did in the 20th century.
In fact, DotCom organizations may not even need a CEO because the company’s board of directors alone could run the business equally successfully. In short, DotCom organizations are web-based organizations whose stratagem are electronically focused, and whose leadership comes from generation Y. This business format is creeping into the conventional world of business. As an executive, are you ready to guide your business into the wired world?
Dr.Danai Thieanphut
Managing Director
DNTConsultants Co.,Ltd.
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