A hundred years ago, corporations are very much reliable on man power, meaning, people ware are the ones who made up a single corporation. A corporation as defined in dictionary is an association of individuals, created by law or under authority of law, having a continuous existence independent of the existences of its members, and powers and liabilities distinct from those of its members. This may mean that corporations are made up of stockholders or is owned by many owners, in which the power and liabilities are divided on each of them.
http://dictionary.reference.com/browse/corporation
It is the most common form of business organization, and one which is chartered by a state and given many legal rights as an entity separate from its owners. This form of business is characterized by the limited liability of its owners, the issuance of shares of easily transferable stock, and existence as a going concern. The process of becoming a corporation, call incorporation, gives the company separate legal standing from its owners and protects those owners from being personally liable in the event that the company is sued (a condition known as limited liability). Incorporation also provides companies with a more flexible way to manage their ownership structure. In addition, there are different tax implications for corporations, although these can be both advantageous and disadvantageous. In these respects, corporations differ from sole proprietorships and limited partnerships.
http://www.investorwords.com/1140/corporation.html
As defined above, corporations are said to be the most known form of business. Stockholders are given equal rights, which mean that every stockholder have separate liabilities. These legal rights can separate the private lives of the owner/s. Due to the separation the owners will not be held personally liable for the corporation during a certain condition that will limit the company's liability.
http://dictionary.reference.com/browse/corporation
It is the most common form of business organization, and one which is chartered by a state and given many legal rights as an entity separate from its owners. This form of business is characterized by the limited liability of its owners, the issuance of shares of easily transferable stock, and existence as a going concern. The process of becoming a corporation, call incorporation, gives the company separate legal standing from its owners and protects those owners from being personally liable in the event that the company is sued (a condition known as limited liability). Incorporation also provides companies with a more flexible way to manage their ownership structure. In addition, there are different tax implications for corporations, although these can be both advantageous and disadvantageous. In these respects, corporations differ from sole proprietorships and limited partnerships.
http://www.investorwords.com/1140/corporation.html
As defined above, corporations are said to be the most known form of business. Stockholders are given equal rights, which mean that every stockholder have separate liabilities. These legal rights can separate the private lives of the owner/s. Due to the separation the owners will not be held personally liable for the corporation during a certain condition that will limit the company's liability.
- EPHEMERAL
Corporations long before the birth of technology is fully dependent on people ware. Everything, from bookkeeping to converting data into information is done manually, in which has taken too much energy and time for employees and even the owners. Even the reach of their productions and services are limited by the distance.
Since technology have been roaming around for over a hundred years now, bookkeeping and conversion of data have become much easier and less energy and time consuming. Due to continuous development of technology, corporations have embraced its full benefit on them. The technology is made up of soft ware, hard ware and people ware. The studies of these have evolved corporations into a much higher level and into a much productive one. Hard wares, which are known locally as machines have enabled human to a more productive persons. Through machines, people are able to give their full time, energy and effort into much more important things on the corporation.
The technologies, particularly the Internet have given corporations a vast and wide reach to embrace its clients and its owners. This time, the evolving technologies have reached every corners of the earth, which forces the corporations to have a new set of rules and culture. Cultures or rules that may include: being computer literate of their employees.
The Internet as stated above has stretched the arms of every corporation to reach its full potential and to deliver its products and services all over and across the world. Now, almost all of the corporations or companies have established their own website, in order for them to advertised their services and products, and as the discovery of the use of the internet, it has even evolve for something helpful for both client and server.
To survive and thrive in this century, managers will need to hard-wire a new set of rules and guideposts into their brains. Not so long ago, for example, leaders believed that building assets over the long haul guaranteed competitive advantage. In this new century, success will go to the companies that partner their way to a new future, not those that put heavy assets onto their balance sheets. Leaders once thought that creating intense rivalries among competitors motivated their employees and assured success. But in the days to come, a company's fiercest competitor might also be its most important collaborator. Since the dawn of trade, every business leader has wanted to build an enduring enterprise. In the new century, though, many companies will be intentionally ephemeral, formed to create new technologies or products only to be absorbed by sponsor companies when their missions are accomplished.
Many factors, from the need to expand beyond national borders to the inexorable shift toward intellectual capital, are driving change, but none is more important than the rise of Internet technologies. Like the steam engine or the assembly line, the Net has already become an advance with revolutionary consequences, most of which we have only begun to feel.
Leading-edge technology will enable workers on the bottom rungs of the organization to seize opportunity as it arises. Employees will increasingly feel the pressure to get breakthrough ideas to market first. Thus, the corporation will need to nurture an array of formal and informal networks to ensure that these ideas can speed into development. In the near future, companies will call on outside contractors to assemble teams of designers, prototype producers, manufacturers, and distributors to get the job done. Emerging technologies will allow employees and freelancers anywhere in the world to converse in numerous languages online without the need for a translator.
That rapid flow of information will permeate the organization. Orders will be fulfilled electronically without a single phone call or piece of paper. The ''virtual financial close'' will put real-time sales and profit figures at every manager's fingertips via the click of a wireless phone or a spoken command to a computer. ''We don't have science-fiction writers who have seen and written this future,'' says Lowell Bryan, a consultant who leads McKinsey & Co.'s Global New Economy practice. ''Everything we see leads to greater diversity, greater choice, a far more integrative economy, yet more individualism.''
In the future it is foreseen that corporations will more likely to become web, as in the web of spiders, which is able to criss-cross its reach from different parts of the world.
The following are the said usage of Internet for the future corporations:
It's more about bits, less about atoms.
A corporation’s position on the market is no longer measured by its size, instead, they would only be measured through its profitability, in which profitable enterprises will manage data, or information, instead of focusing only on managing the corporation's physical assets. Good management of information can result to good decision making thus, allows an upstart to beat an established player; it can also give an incumbent vast advantages. By using information to manage themselves and better serve their customers, companies will be able to do things cheaper, faster, and with far less waste.
It's mass customization.
Internet can be way of showcasing consumer’s reaction or suggestion of a certain product or service of a corporation, which will lead to a more reliable and good quality of products or services. This will also give the corporation what their consumer needs and wants.
It's dependent on intellectual capital.
The advantage of bringing breakthrough products to market first will be shorter-lived than ever, because technology will let competitors match or exceed them almost instantly. To keep ahead of the steep new-product curve, it will be crucial for businesses to attract and retain the best thinkers. The old command-and-control hierarchies, with their civil-service-like wages, are fast crumbling in favor of organizations that empower vast numbers of people and reward the best of them as if they were owners of the enterprise.
It's global.
In the beginning, the global company was defined as one that simply sold its goods in overseas markets. But as of today, corporation are able to sold their products and services all across the world.
It's about speed.
All this work will be done in an instant. ''The Internet is a tool, and the biggest impact of that tool is speed,'' says Andrew S. Grove, chairman of Intel Corp. (INTC) ''The speed of actions, the speed of deliberations, and the speed of information has increased, and it will continue to increase.'' That means the old, process-oriented corporation must radically revamp. With everything from product cycles to employee turnover on fast-forward, there is simply not enough time for deliberation or bureaucracy.
Since technology have been roaming around for over a hundred years now, bookkeeping and conversion of data have become much easier and less energy and time consuming. Due to continuous development of technology, corporations have embraced its full benefit on them. The technology is made up of soft ware, hard ware and people ware. The studies of these have evolved corporations into a much higher level and into a much productive one. Hard wares, which are known locally as machines have enabled human to a more productive persons. Through machines, people are able to give their full time, energy and effort into much more important things on the corporation.
The technologies, particularly the Internet have given corporations a vast and wide reach to embrace its clients and its owners. This time, the evolving technologies have reached every corners of the earth, which forces the corporations to have a new set of rules and culture. Cultures or rules that may include: being computer literate of their employees.
The Internet as stated above has stretched the arms of every corporation to reach its full potential and to deliver its products and services all over and across the world. Now, almost all of the corporations or companies have established their own website, in order for them to advertised their services and products, and as the discovery of the use of the internet, it has even evolve for something helpful for both client and server.
To survive and thrive in this century, managers will need to hard-wire a new set of rules and guideposts into their brains. Not so long ago, for example, leaders believed that building assets over the long haul guaranteed competitive advantage. In this new century, success will go to the companies that partner their way to a new future, not those that put heavy assets onto their balance sheets. Leaders once thought that creating intense rivalries among competitors motivated their employees and assured success. But in the days to come, a company's fiercest competitor might also be its most important collaborator. Since the dawn of trade, every business leader has wanted to build an enduring enterprise. In the new century, though, many companies will be intentionally ephemeral, formed to create new technologies or products only to be absorbed by sponsor companies when their missions are accomplished.
Many factors, from the need to expand beyond national borders to the inexorable shift toward intellectual capital, are driving change, but none is more important than the rise of Internet technologies. Like the steam engine or the assembly line, the Net has already become an advance with revolutionary consequences, most of which we have only begun to feel.
Leading-edge technology will enable workers on the bottom rungs of the organization to seize opportunity as it arises. Employees will increasingly feel the pressure to get breakthrough ideas to market first. Thus, the corporation will need to nurture an array of formal and informal networks to ensure that these ideas can speed into development. In the near future, companies will call on outside contractors to assemble teams of designers, prototype producers, manufacturers, and distributors to get the job done. Emerging technologies will allow employees and freelancers anywhere in the world to converse in numerous languages online without the need for a translator.
That rapid flow of information will permeate the organization. Orders will be fulfilled electronically without a single phone call or piece of paper. The ''virtual financial close'' will put real-time sales and profit figures at every manager's fingertips via the click of a wireless phone or a spoken command to a computer. ''We don't have science-fiction writers who have seen and written this future,'' says Lowell Bryan, a consultant who leads McKinsey & Co.'s Global New Economy practice. ''Everything we see leads to greater diversity, greater choice, a far more integrative economy, yet more individualism.''
In the future it is foreseen that corporations will more likely to become web, as in the web of spiders, which is able to criss-cross its reach from different parts of the world.
The following are the said usage of Internet for the future corporations:
It's more about bits, less about atoms.
A corporation’s position on the market is no longer measured by its size, instead, they would only be measured through its profitability, in which profitable enterprises will manage data, or information, instead of focusing only on managing the corporation's physical assets. Good management of information can result to good decision making thus, allows an upstart to beat an established player; it can also give an incumbent vast advantages. By using information to manage themselves and better serve their customers, companies will be able to do things cheaper, faster, and with far less waste.
It's mass customization.
Internet can be way of showcasing consumer’s reaction or suggestion of a certain product or service of a corporation, which will lead to a more reliable and good quality of products or services. This will also give the corporation what their consumer needs and wants.
It's dependent on intellectual capital.
The advantage of bringing breakthrough products to market first will be shorter-lived than ever, because technology will let competitors match or exceed them almost instantly. To keep ahead of the steep new-product curve, it will be crucial for businesses to attract and retain the best thinkers. The old command-and-control hierarchies, with their civil-service-like wages, are fast crumbling in favor of organizations that empower vast numbers of people and reward the best of them as if they were owners of the enterprise.
It's global.
In the beginning, the global company was defined as one that simply sold its goods in overseas markets. But as of today, corporation are able to sold their products and services all across the world.
It's about speed.
All this work will be done in an instant. ''The Internet is a tool, and the biggest impact of that tool is speed,'' says Andrew S. Grove, chairman of Intel Corp. (INTC) ''The speed of actions, the speed of deliberations, and the speed of information has increased, and it will continue to increase.'' That means the old, process-oriented corporation must radically revamp. With everything from product cycles to employee turnover on fast-forward, there is simply not enough time for deliberation or bureaucracy.
- DIGITIZATION.
Just as the smaller companies will use technology to gain economies of scale, larger companies will harness technology to reduce the costs of complexity. At the very core of the 21st century corporation is technology, or what most people today call digitization. Put simply, digitization means removing human minds and hands from an organization's most routine tasks and replacing them with computers and networks. Digitizing everything from employee benefits to accounts receivables to product design cuts time, cost, and people from operations, resulting in huge savings and vast improvements in speed'
- CULTURAL CHANGE.
The potential for productivity gains is everywhere, in every process, in every industry. In the years to come, large incumbent corporations that get it will be the greatest beneficiaries of the Net, not the dot-com insurgents that once garnered all the publicity and market valuations.
Despite a handful of leading-edge companies, the true 21st century corporation, at least as it will eventually emerge, does not yet exist. But there is no one company today that embodies all the possibilities and promise of the super efficient 21st century corporation.
Through this consumers and clients would be able to know the truth about the products or services offered. Frictions will be eliminated and consumers can even decide through other peoples feedback on the said product or service.
Despite a handful of leading-edge companies, the true 21st century corporation, at least as it will eventually emerge, does not yet exist. But there is no one company today that embodies all the possibilities and promise of the super efficient 21st century corporation.
Through this consumers and clients would be able to know the truth about the products or services offered. Frictions will be eliminated and consumers can even decide through other peoples feedback on the said product or service.
- CONNECTIONS
True 21st century corporations will also learn to manage an elaborate network of external relationships. That far-reaching ecosystem of suppliers, partners, and contractors will allow them to focus on what they do best and farm everything else out. And it will let them quickly take advantage of fleeting opportunities without having to tie up vast amounts of capital. Outsourcing and partnering, of course, are hardly new. But in the coming century, such alliances will become more crucial.
- TALENT HUNT
Through technology, corporations would be able to find potential workers all over the world. This would both benefit people and the corporation itself. Due to online job hunting and online job interview, cost will be reduced or even eliminated.
http://www.businessweek.com/common_frames/ma_0035.htm?/2000/00_35/b3696011.htm
http://www.businessweek.com/common_frames/ma_0035.htm?/2000/00_35/b3696011.htm
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