Recent changes in global economy have been focusing on the need for a proactive approach in the International Financial Services sector. Integrating business, the knowledge of experts, and emerging technologies are the basic components for proactive approach. The activities related to financial services are generally a complex process. The requirements for a global market need to be analyzed from various risks in business. Now organizations have to understand the value of sharing resources such as human centered assets, physical assets and the components of Information communication technology, to gain competitive advantage in virtual environment. The concept of virtual organization plays an important role in the present globalization scenario. All the virtual organizations will share the common resources for computing power and data across the globe. Grid and mobile computing concepts will be required to be integrated in the present global market.
Business Model In Global Environment
Concepts and Practice are generally divergent. The Challenge of developing effective business model by a global virtual organization is substantially greater than identifying relevant concepts in management and technology. GFSAG (Global Financial Services Advisory Group) is already a global virtual company. GFSAG has realized that in order to grow in global market, it is not just enough to be competitive but globally acceptable as a professional advisory group. This is very important and there is no easy route for this FIG-1 gives an overview of the concepts in the business model developed by GFSAG. Ensuing paragraphs in this chapter highlight the concepts that facilitated the development of the below model.
Figure 1. Top
Overview of the concepts in the business model
GFSAG (Global Financial Services Advisory Group) is a London based investment consultancy organization. GFSAG provides investment consultancy services in the areas of corporate securities, foreign exchange, metals and commodities. There are specific domain experts for each of the above areas of services. It is because of their technical and professional expertise they have made a good impact in the global financial sector. In the present fast moving global markets and fierce competition they have failed to produce results quickly. For this they need to accept proactive approach in their business activities. In this context they have formed a task force to identify the concepts related to business and ICT that would help them to implement their plan of action. The task force has recommended Grid computing and the advanced concepts of virtual reality to be used in the area of corporate securities. The task force has also identified the domain experts and ICT professionals to develop a model exclusively for advising in the area of corporate securities. The existing GFSAG model will be the base for development.
Key Terms in this Chapter
Nomadic Computing: The Computing environment moves along with the mobile user.
Visistraction: This is the graphical concretization of concepts and ideas.
Automatic Computing: The term “automatic” comes from an analogy to the automatic central nervous system in the human body, which adjusts too many situations automatically without any external help
Grid Computing: This involves the actual networking services and connections of a potentially unlimited number of ubiquitous computing devices within a “GRID”.
Ubiquitous embedded computer systems: consumer electronics and the power of internet
Ubiquitous Computing: Coined by Mark Weiser a “Disappearing” every place computing environment and nobody will notice its presence. User will be able to use both local and remote services.
Visibilization: This addresses the ability to represent very large and very small structures.
Pervasive Computing: This is a new dimension of personal computing that integrates mobile communication