Collaboration Technology

Collaboration technology is a valuable tool in the business world and has revolutionalized the way teams work. Collaborative software is defined as software designed to to help people involved in a common task achieve their goals. (http://en.wikipedia.org/wiki/Collaborative_software) There are a number of different collaborative technologies available and each has its own purpose. While one such technology may satisfy the needs of one firm, different tools are needed for different projects.
Over the past couple of weeks I have learned a lot about collaboration technology. In a world that is constantly evolving due to technological changes, collaboration technology is allowing the business world to keep pace with the advances being made. Strides are not only being made in the business world but also in the classroom. Students can now complete group projects using the collaborative technology without worrying about conflicting schedules. Group projects will never be the same.

Tips for an effective presentation

Although business presentations can be nerve racking and stressful, they can be a powerful tool for a company to use. To reduce the amount of stress associated with presentations, and hopefully make them more effective, I have two tips. The first tip is repetition. If the presentation is carefully rehearsed before the actual present day, the presenter will be less nervous and will be more convincing. ( http://www.presentationmagazine.com/Essential_presentation_skills_2_Rehearsal.htm) The second tip is to receive feedback. The presenter can gain valuable insight by having a friend watch the presentation. The friend can give feedback on things such an nonverbal communication and dress. If these two tips are followed, a presentation has no choice but to be effective.

Has the worst passed?

This week I read some very interesting articles about the current state of the economy. According to the popular economic magazine The Economist, the U.S. GDP for the third quarter is up close to three percent from the second quarter(www.economist.com). Is this a sign that we are finally recovering from the recession? Some economists don't think so. Many economists believe that the federal stimulus package has done nothing more than create a bubble that will soon burst(http://www.forbes.com/forbes/2009/1116/opinions-great-depression-economy-on-my-mind.html). I agree with these economists. Unemployment continues to rise and will probably get worse. The economy is in a state of jobless recovery. Until unemployment decreases and GDP continues increasing, the economy will not improve.

The indirect approach (either writing or speaking) is a waste of time and effort.

I think that the indirect approach to writing and speaking is a waste of time and effort. In a constantly changing business world, it is important that we get to the point as quickly as possible and move on with our progress. Real business should be done using the direct approach. The business world is too fast paced to require the recipient of the message to spend more time than would usually be required. Although sometimes the direct approach makes the author seem arrogant(http://faculty.winthrop.edu/kosterj/WRIT465/management/directapproach.htm), it is the most popular format for presenting business reports. The indirect approach may have its use outside of the business world but inside the direct approach is king.

Letter writing is archaic and should not be taught any more.

I agree that letter writing is somewhat archaic in the constantly evolving world of technology. According to a study conducted by the Radicati Group, it is estimated that more than 210 billion emails are sent each day. (http://www.interactiveangle.com) Email is becoming a big part of business and many times eliminates the need for a letter. Although letter writing is becoming somewhat outdated, it is still important that proper letter writing is taught. A lot of information is still being communicated through letters. Not everyone has an email address but most people have an address where a letter could be delivered. Well written business letters will be a valuable tool for years to come.

Attire for a business interview

Proper dress in an interview can make a lasting impression on the interviewer and could potentially lead to getting the job. Interviewees should dress in such a way that portrays professionalism. Men should dress in business suits with a conservative shirt and tie color combination. Women should also dress conservatively. Proper business attire is shown in the photograph above. Although getting a job is usually not based soley on dress, a well dressed job canidate will be taken seriously.

Porter's five forces

This week in my management class we talked about Porter's five forces. In 1979 a student by the name of Michael E. Porter invented a business strategy that helped determine the attractiveness of a market. The following are the five sources:
1-The threat of substitute products
2-The threat of the entry of new competitors
3-The intensity of competitive rivalry
4-The bargaining power of customers
5-The bargaining power of suppliers

Obviously some of the five forces have more pull than others in specific markets. An example would be the threat of the entry of new competitors in the auto industry. The auto industry is an oligopoly and it would be very hard to enter into the market. Porter's five fources can be a very powerful tool in determining the attractiveness of a market especially to entrepreneurs.