Self-organization in complex systems Essay Example | Topics and Well Written Essays - 2750 words

Self-organization in complex systems - Essay Example The changes in the business environment have constantly altered the ways companies do businesses nowadays. Because of the advancement of technology, environmental factors such as political, economic and the social landscape have been altered, which has caused a drastic shift in terms of the rules of the marketplace. Information Technology plays a huge role in this shift of trends in the market, especially the Internet. The Internet has created numerous possibilities in terms of interactions between many stakeholders of the company, most notably, the consumers. The Internet has enabled the consumers to interact with the company in many ways, making them the most important co-creator of value in the process. Gone are the days when consumers are just a passive group in the past to whom a company offers its products. With the interactivity of the Internet, consumers have been given ways to affect the value-creation in terms of the products that a company offers. Consumers also participat e actively in many areas of the value chain such as marketing, with the creation of online communities and greater networking being made possible by the Internet. This creates a shift in terms of the balance of power, where consumers are active determinants of value.