Goals and objectives of any business are to maximize its profits as well to formulate it ways of survival. Business is natured to live forever irrespective of many challenges involved. This obvious aim of business has led to a new revolution in technology. The innovations have resulted to a world with systems to ease the challenges in business environment (Lucas, 2005). For a business to operate, we need suppliers, consumers and other service providers. All this stake holders are joined together to do business when communication between them is effective. For effective communication between the stake holders in businesses, technologies and strategies have being put in place to help them operate easily between them. Business to business (b2b) and business to customers (b2c) has being streamlined due to the available technology. With this effect business operations are more cost effective as well as being responsive to the time hence promoting developments in all areas of businesses (Lucas, 2005).
For instance, oxford dictionary is manufactured by Oxford University press Company. The process involved to produce the final copies is long as it undergoes various stages i.e. from raw materials suppliers to the distributors. With the help of technology, Oxford Company tenders their suppliers online. All the descriptions of the products needed are posted online to help all those who are willing and able to supply to respond. This create affordable and accessible channel of communication to all suppliers equitably. On the other hand, service providers who offer mechanical services to the company also have their share online. Presence of technology between the three stake holders makes it easier to communicate effectively while transacting business. At the same time, Oxford Company reaches their targeted buyer through the same channel. Willing buyers access the edition of their choice by only going to the oxford web. One can order as many copies as possible irregardless of the location at the globe. It is possible for the company to market its products easily all round the globe without incurring much costs.
In another case, Alibaba Company as a service provider link between variety of companies and service provider. They also link buyers and sellers in their web site. Alibaba is an online market where any willing and able buyers shop online. As a company, alibaba source items from willing sellers (companies or individuals) and float them in their web site with all description and prices. These help the sellers because of already existing market created by Alibaba hence making it easier to move there products. On the other hand, willing buyers are able to make their best choice because of the varieties floated in the Alibaba web site. The availability technology makes it cheep to market sellers’ products as well as promoting production and other related areas in line of production. So to say, Alibaba as a company facilitate and coordinate the transactions involved by their subscribers. These create an obvious advantage because many people around the world can transact business within Alibaba web site without involving so many buying procedures or even traveling to the market place.
Technologically, business relies much on each other either directly or indirectly. We have several dimensions where businesses out source from one another. For instance one can be based on data orientation integration. Here, information is extracted from a database of one business and then updated on the other business database. The other one is application interface oriented integration that enhances the available interfaces in custom making them share business data. This device helps them trace their customers all around without manually visiting each other for information regarding the customer. The other noticeable example is the method oriented integration which involves the sharing the existing data between businesses. (Senn, (2004)
Companies of the same industry use this method mostly when they are pricing their products. The last example is the portal oriented integration. This is here the information from several sources can be posted in one page e.g. like in yahoo web site. This common site creates a source of information for all who might be having an interest in a certain sector.
On the other side, technology has created a chance for customers to relate well with business. Business people have put in place various avenues to enhance proper relation ship with their customers. Electronic catalog is a major tool that has being put in place for customers to access what the business is offering and their prices. Marketing also becomes cheep and affordable because customers all over the world can access their catalog and make their decision to buy or not at a distance. (Chen, 2004).
With the help of extranet services in a business customers find it easier to identify with the business. All information about the business is available to all stake holders. This makes the business repute well and appeal to many customers. To conclude, technology has become an asset in all types of businesses. Communication between customers and the business as well as business to business has been effected. Technology has offered safe means of transacting business keeping in mind that many players are participating in businesses through technology. World is now a small village where one go through online in minutes therefore increasing demand of products all over the world.