To be successful in the 21st century,companies must take advantage of the new information technology--especially the internet--globalization--and entrepreneurship.
Technology: Technology and especially information technology (IT) has a pervasive impact on both individuals. The would wide web and the internet connect
people and organizations through a global network. Electronic commerce (e-commerce) is increasingly used for transactions between individuals and companies (B2C)
as well as between businesses (B2B). The number of people connecting to the internet varies among countries. The United States, Canada, the many Asian countries. For example,
Shanghai, China, has a population of 18 million and over 16 million call phone subscribers. But other countries, including developing countries, are rapidly connecting to the global network
Another trend is the use of m-commerce, that is , mobile or wireless commerce for buying and feeling goods using for example cellular telephones or personal digital assistants.
Increasingly, people can communicate without computers by using wireless devices. In Japan, for example, N.T.T. DoCoMo has developed an internet service called i-mode, which has already many million
subscribers. These services will increase as soon as third-generation wireless technology making the speedy transmission of data (including video) possible.
Globalization: The second major trend is globalization. Most major corporation have an international presence. The World Trade globalization.(W.T.O.) an umbrella organization,
was established in 1995 to govern international trade. Despite street protest at W.T.O. meetings, globalization continues. The gains from globalization not only benefit Western corporations but also
result in higher incomes for people in other countries, such as China. Clearly, managers must develop an international perspective.
Entrepreneurship: An increasing focus on entrepreneurship as a national and organizational imperative is unmistakably clear. Entrepreneurship is seen by governments as a means to increase
employment and prosperity among their populations, while organizations-large and small find that entrepreneurial innovation and expansion into new markets are essential to their
success and survival in increasingly competitive markets that are linked globally through sophisticated and ever present communication technologists.
Entrepreneurship is a creative process that is centered in the notion of identifying market opportunities and unmet needs. It is building solutions that meet these needs and bring
value to customers. Entrepreneurs build organizations that provide products that alleviate people's pain (e.g. pharmaceutical company's) or provide that means for people enhance
their own lives through sophisticated telecommunications (e.g.information technology companies). From the entrepreneurial epicenter of Silicon valley to emerging entrepreneurial
centers around the world, new venture creation and innovation are the driving forces of progress for mankind. We highlight these entrepreneurial trends and their correspondence
with a wide range of management challenges throughout each chapter in the closing section of each part of the book to focus attention on the critical impact of entrepreneurship
in today's organizations.
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