Essay example on Business Ethics
Communities of value may be defined as huge networks between individuals bearing similar interest in value. It is often used about and within groupings in which customers, consumers, and concerned stakeholders are dynamically networking with each other about a given product, service, or brand. Organizations which still adore ancient ways of doing business loathe hearing that individuals are sharing information within themselves. Such firms prefer ‘talking’ more than online communication.
Basically, organizations that enjoy fooling consumers will attempt to sabotage and drain any attempt of sharing information within a given socio-economic community of value. It is certain that such companies have to change and embrace information technology fully otherwise they have no option other than to close doors. There are various communities of value. Examples of these communities include; eBay, Napster, Linux, PHP, MySQL, Amazon, Double-Click, Akamai among others. Such communities form by themselves and are found all over the world, wherever online forums are available and regardless of whether concerned companies participate or not.
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Impact on growth of information technology Communities of value rely on advanced technology. This calls for overhaul of entire information technology. As the communities of value grow both in nature and complexity IT capability is also stretched. Thus need for growth in this industry. Various communities of value need diverse IT options. To tap the collective knowledge of entire network and address common interest of members of these communities calls for innovation in the IT industry. For example, just the other day Web 2. 0 technology developed options that allowed members to connect in ways that were not possible before.
Various groups with common interest and value are able to join networks and get involved depending on favored interest. Through advanced IT organizations are able to harness collective value of consumers thus enhancing customer relationship. In conclusion, communities of value keep on increasing and extending across socio-economic boundaries. Growth of these communities brings in technological demands which can only be addressed through reengineering IT industry. Pressure from communities of value leaves the IT field with one option-dynamic growth.
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