The New Wave of Business Essay.
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Details: The internet has created new ways to do business for organizations with much less capital planning as opposed to the high capital needs of traditional brick and mortar organizations. Based on this, how should management and leadership be addressed for each type of business? Research successful traditional and online retailers and address the following issues: Discuss the organizational structure of one traditional and one online retailer. Identify two management or leadership challenges for each type of retailer. Are the challenges basically the same or different? In what ways are they the same or how are they different?
Here’s a snippet of the essay.
A new wave of conductive business is looming in the internet world, and the traditional brick and motor companies may not escape its tide. Online shopping has eased the way of purchasing goods; it is convenient and most of the times even cheaper than walking into physical stores and buying products. Online retail is set to be on the rise as it is deemed to be more visual, interactive, and flexible as opposed to brick and motor retail stores. To illuminate the digital wave of retail, it would be important to compare the retail practices at Wal-Mart and Amazon.
Wal-Mart Stores, Inc., often called Wal-Mart is a multinational retail corporation that runs large chains stores and warehouses. The Wal-Mart Stores U.S. may be viewed as the company’s largest division. The division comprises three retail formats, namely; Supercenters, Discount Stores, and Wal-Mart Markets. Although the company has been ranked as the world’s third largest corporation among the fortune 500 companies, it faces a myriad of challenges emanating from its mode of retail (Bianco, 2003). The challenges range from the supply chain management to competition among inline retailers. Recently, the company has expressed that it was having problems ferrying merchandise from delivery centers onto the shelves. This was termed to be more than an immediate loss of money, and a problem that would sidetrack the company from its main business strategy. It is argued that retailers need less carry time for quicker retail; the quicker the retailer can sell goods, the more time they would need to finance, and the lower the prices they can offer to customers. Other challenges involve competition from online marketers due to the novelty of digital marketing; the digital marketing platform offers a more interactive model of social media, online sharing has eased the process of choosing the right product to buy, thus increasing customer satisfaction (Saporito, 2013).