Introduction

Abstract

This article presents the factors which have more effect on the business process and is related to the technology, finance, and economic structure of an organisation. This article helps to give more thoughts about those factors which play a significant role to run a business structure properly. Business process, technology, finance, and economy are the top important components to develop a business structure and through all components indicate the position of the organisation in the market. Those all are business components and these components indicate the situation in the market. Those factors are related to each other and all create significant characteristics in the market presentation.

Those factors also motivate the firm to develop and through their new technologies, ideas, thoughts, information, the organisation becomes more confident to communicate with other companies in the markets. This article discusses those important factors which are proper presentations depending on those components. Those factors help a company to become more powerful and also indicate its position in the market structure. Through the help of those factors, an organisation can easily achieve its goals and be able to stand a high position in the market. This article helps to monitor those factors and their effectiveness in the business.

Table of Contents

Introduction. 4

Discussion. 4

Conclusion. 6

References. 8

Introduction

Business process, technology, finance, and economy are the main parts of a running business. Those all help a company to develop better and present strong content in the market structure. Business processes and technology are more attached to each other and exploration affects the organisation’s finance and economy. This assessment discusses those factors which help the organisation to achieve new technology in the business process and how it impacts their finance and economic structure. This part equality affected though some factors which create a difference in their presentation and that affect hugely in the presentation of the business. Those factors are very significant to develop a business structure and its effect on the economic distribution of an organisation. Those factors are very effective to distribute a business structure properly and also help this organisation to suggest catching the right track for their future growth.

Discussion

The most important parts of a running business are business process, technology, finance, and economy (Mendling et al., 2018). Those all are attached to each other and all parts equally play a significant role to approach a business continuously. After applying those factors in business structure, it creates a huge difference in the business presentation and makes this company more powerful. Those factors are:

Leadership: The leaders are the top to manage a business properly and they played a significant role in their technical background. This is one of the most important factors which help a company to become more powerful and confident. A properly trained leader is always able to handle all tough situations in the workplace and also able to assign a job properly on time. They also motivate other workers to do their job properly and guide them. The appropriate management of a leader helps an organisation to become more presentable in the market and create a significant reputation for the company. They are also an economic increase of the company and help silently this company to become more powerful.

Downsizing: Downsizing is also huge impotence to create an effective component in the business process and technology. Employees in most organisations face threats to lose their job, is this time downsizing is the best option to recover this situation and help the organisation to fulfil its target and achieve success. Every organisation always focuses on innovating new thought in their business process, to utilize these many companies face insecurity in their productivity system (Litvinenko, 2020). This factor is considered the shortest route to achieve great success in the business journey. The impact of downsizing on the financial performance of an organisation is temporary because it cannot go to reduce manpower forever. When a company goes through a bad patch, these factors help this company to develop more and help to identify important components which are important to run easily.

Human resource: Human resources are the most valuable resource of a company. The employers played a major role in properly standing an organisation and their proper act helped this firm to become more popular in the market (Singh et al., 2020). The properly trained employers are offered a suggesting improvement and also help this organisation to become more powerful. They always provide opportunities and play an effective role to achieve high scores in the market. If an organisation always focuses on developing the employee’s skill and knowledge that should help to effectively run the business process and it generally changes the structure of this company’s finances and economy. Through their training and proper skill, they experience an organisation able to develop their business process and able to innovate new thought in their technological presentation.

Implementation time: A firm success mostly depends on the time taken to implement and their benefit was seen in their business process and economy also. Every company is always more on developing time utilization which is also a most important factor of a business process (Aydiner et al., 2019).

When an organisation divides their work on timely requirements, it should help this company to develop their management system and through this, a firm rapidly occupies more ways in the performance of this business process. This time implementation factors also affect significantly the economic system. A proper time implementation helps management to earn more in the business process and also helps to suggest better technologies in their business presentations. Through the help of this factor, a company able to innovate more processes and successfully implement it will help this company to become stronger in the market.

Out-of-the-box thinking: This is one of the significant factors which affect the growth of the business. This factor helps an organisation to think more which generates creative and innovative ideas in the business process. This factor is very effective for innovation and helps to implement new changes in business technology. That helps the organisation to become more powerful and it affects their economic structure. Most companies deviate from their traditional paradigms and generate new technology in their business structure (Aydiner et al., 2019). It encourages and rewards employers to develop their ideas through these factors and those ideas indicate a successful business structure of a firm.

Conclusion

According to the study of this assessment, it could be concluded that those factors help a company to be more powerful and confident and able to present their product in the market. Those factors are really very effective for the organisation which is mainly developed on those components. Human resources, leader training, technological changes, advertising, and many more, all factors are very effective for a company to develop more and be able to innovate and enrich their brand value in the market. Through those factors, an organisation becomes richer in organisational culture and able to create an enthusiastic environment in the workplace. Those factors also help the company to input new technologies and features in their business process and fulfil these organisational resources. Those all factors are very significant to identify the current position of this organisation in the market structure and help to develop their position.

References

Aydiner, A. S., Tatoglu, E., Bayraktar, E., &Zaim, S. (2019). Information system capabilities and firm performance: Opening the black box through decision-making performance and business-process performance. International Journal of Information Management, 47, 168-182. DOI: https://doi.org/10.1016/j.ijinfomgt.2018.12.015

Aydiner, A. S., Tatoglu, E., Bayraktar, E., Zaim, S., &Delen, D. (2019). Business analytics and firm performance: The mediating role of business process performance.Journal of business research, 96, 228-237. Retrieved from: https://doi.org/10.1016/j.jbusres.2018.11.028

Litvinenko, V. S. (2020). Digital economy as a factor in the technological development of the mineral sector.Natural Resources Research, 29(3), 1521-1541. Retrieved from: https://link.springer.com/article/10.1007/s11053-019-09568-4

Mendling, J., Decker, G., Hull, R., Reijers, H. A., & Weber, I. (2018). How do machine learning, robotic process automation, and blockchains affect the human factor in business process management?.Communications of the Association for Information Systems, 43(1), 19. Retrieved from: https://epub.wu.ac.at/6557/1/CAIS-2018-Mendling_et_al-How_do_Machine_Learning,_Robotic_Process_Automation_and_Blockchains_affect_the_Human_Factor_in_Business_Process_Management.pdf

Singh, S. K., Del Giudice, M., Chierici, R., &Graziano, D. (2020). Green innovation and environmental performance: The role of green transformational leadership and green human resource management. Technological Forecasting and Social Change, 150, 119762. DOI: https://doi.org/10.1016/j.techfore.2019.119762