Drishtikon: A Management Journal

Yogeshwar P Kosta , G Krishnamurthy , Sujata Krishnamurthy ¹

Affiliations
1 Charotar University of Science and Technology, Changa, Gujarat

Abstract

Our investigative studies relating to information, networking and connectivity humbly forecast the emergence of a Network Based Economy (NBE). The NBE model is based upon Diversity, Independence and Decentralization (D-I-D) concept [1,2,3,4,12]. In this paper, the authors, propose and discuss the emergence of a NBE model leading to integration and consolidation, where economies and markets go through rapid cycles of growth, maturity and decline. The model is developed around business&trade, primarily providing an insight to evolution of a new kind of business process activity; envisions creations (ideation, innovation and leadership), work (workforce-people skills and specialists groups, Regions) and management of a business (Business channel, execution, security&monitoring and sustenance), essentially discussing the issues and challenges associated with the networked world. As the world we live get increasingly sophisticated, instrumented, networked, and intelligent, a new conscious of intelligence seems to exist within the networked web- the virtual landscape, attributed to open nature of the system [3,6,7]. The DID concept is based upon the open nature of the web, enables connectivity and networking through the web; a necessity that helps sharing ideas and resources by bringing in people - Diversity; instrumented, meaning that a mechanism exists to monitor and a capability to gather key data of activities&process in real time to derive information utilizing software's that find hidden trends in data - Independent&Decentralized) and Knowledge, as Intelligence that help in decision making - Independence in DM through human cognition and advanced software that utilize Artificial Intelligence. Under, the circumstances, it is pretty obvious that, globally distributed and integrated business enterprise needs something more powerful that will help reach its goal - a new knowledge&intelligence. This "new knowledge&intelligence" combines human cognition reinforced (innovation) with superior computational power (software's) that generates scenarios (starting raw material). Scenarios are powerful tools that creates situations conducive to accurately predict paths and design strategy for future growth through DID concept, compared to conventional sensing and responding - acting to stimulus, as most of the software based data analysis tools today offer only situation based awareness and predictive abilities. The discussions focus upon three broad areas, the first regarding Emergence of a Global Network , Systems and Society, the second regarding Emergence of the virtual work force and culture and the third regarding Emergence of Networked Based Business , Organizations&Economy. As globalization becomes a phenomenon, know and the lesser known compete for market share. A few noteworthy points have been mentioned that spotlights issues about India wherever necessary [3,6,7,16,17].

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