I was invited to blog here for a brief period of time to assist in promoting the concepts of virtual business processes. The window has come to a close and this is my last post at this site.
Virtual business processes, software as a service, hosted solutions, social networking and other collaborative technologies have all become extremely important in business as firms seek to benefit from collaboration and transparency. These efforts are timely as we watched in astonishment the pace at which the global business community is melting. Consider this time the end of an era, the Industrial Era. How do you plan to survive in this fluid environment? Below are some things to consider as you navigate this transition:
1. According to the U.S. Small Business Administration 100% of all net new jobs in the US economy in 2007 were added by small businesses. This reflects changing market dynamics. Baby boomers are not ready to retire; they still have much to offer in terms of knowledge and creativity. GenX and GenY are rejecting the political environments of corporate America. To be truly impactful in a business, it is much better to be part of a smaller firm.
2. Small businesses are the driving force in this global economy. SMBs make up more than half of all businesses in the US and over 75% of all businesses in Europe and Asia. The tools, applications, widgets, solutions and services you are considering developing need to incorporate the dynamic nature in which SMBs operate. Web 2.0, a virtual workforce and the need to collaborate are fundamentals of the SMB market. Keep that in mind as you evaluate your research and development resources.
3. Nicholas Carr had it correct when he said IT doesn’t matter. It makes no senses whatsoever for a company to build out and maintain an IT infrastructure. This is especially true in today’s virtual business world. The security, tools, applications and infrastructure are available to work in the cloud. Even specialize applications are readily available via SaaS. Why invest in depreciating assets that have huge maintenance and TCO associated with them?
4. Business fundamentals are going to be the buzz phrase of 2009. Customer service, the web experience, cost containment, ROI metrics, TCO metrics, process improvement and creative solutions are terms we will see on a regular basis.
5. There will continue to be a sharp contrast between managers saying people are the firm’s greatest asset, and massive layoffs. There is no loyalty. Working increasingly more hours will not guarantee job security. Continue to strive for balance and focus on taking care of yourself and your family. There are numerous studies that show efforts toward balance makes you more productive over excessive hours on the job.
Thank you to everyone that read the posts and especially to those that provided feedback. I learned a great deal and appreciated the insights of experience you took the time to post. Good luck and best wishes to all of the readers for a successful 2009. I can be found blogging on SaaS at ITWorld (www.itworld.com/martha-young) in mid-January. Join me on Twitter at http://twitter.com/myoung_vbiz and on LinkedIn at http://www.linkedin.com/in/marthalyoung.
Martha Young is the founder of Nova Amber, LLC, a business consulting firm specializing in virtual business strategies. She has worked in the technology sector for more than 14 years, working and consulting with Fortune 500 companies including Cisco Systems, IBM, Intel Corporation and Lockheed Martin. She is a widely recognized industry expert on hosted, managed and outsourced services, and virtual business strategy.
This blog is a business strategy discussion aimed at firms seeking to build and retain a competitive advantage by taking advantage of virtual business processes. It covers the topic of organizational readiness for virtual business. We explore many of the components of determining organizational readiness including executive leadership readiness, IT readiness, IT governance and how to develop and execute a readiness plan. We will examine the common hurdles to readiness and how to overcome them.
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