Cloud Computing Essay Example | Topics and Well Written Essays - 500 words - 2

Cloud Computing - Essay Example Given the close linkages between financial services firms and cutting edge technology, it makes for eminent business sense to remain on top of the â€Å"convergence† that is happening between IT and financial services. Cloud computing is altering the way business is done and the way business services are provided by bringing about a paradigm shift in the way excess computing power and storage space can be used. Cloud Computing works by aggregating the computing power of individual computers and then centralizing the same so as to derive maximum advantage for the users. Since UVW does not have to invest in additional capacity whenever it takes on more users, we stand to gain from the double benefit of efficiencies from economies of scale and cost savings because of outsourcing our requirements to providers of cloud computing services. For UVW to remain competitive in the financial services market, we need to embrace next generation IT services like what other global financial conglomerates like Goldman Sachs are doing by renting out cloud providers to host their data and provide them computing power. The use of offshore datacenters by these financial services firms has helped them to cut their IT costs significantly. In the context of the financial services firms undergoing an era of rapid change in the way they do business, it is necessary for UVW to embrace innovation and be at the forefront of emerging technologies. By embracing cloud computing in its business, UVW can thus remain competitive as well as ride the wave of change that is sweeping the financial services

Group dynamics in the business world Essay Example | Topics and Well Written Essays - 2000 words

Group dynamics in the business world - Essay Example This paper tends to discuss the significance of understanding group dynamics in the business world. It also researches how teamwork and interdependence would enhance organizational cohesiveness and its implications in business world. To illustrate, today technology is the most inevitable factor in the rapid changing business world. Web-based technology helps organizations to be more productive by aligning their workforce, information, and resources. Individual efforts alone can not attain the intended goals on proposed time. As new business organizations are rather decentralized in their structure, incorporated information sharing and problem solving have become essential. Therefore, members require specialized training in group dynamics and team building because various factors like diverse personalities, departmental politics, and dispute over leadership might challenge team’ effectiveness (Ackerson W., 1990, p.23). Moreover, teams are the part of an organization’s quality improvement program. Therefore, positive interdependence is essential to achieve mutual goals. Organizations can easily cut down time lag in communication by maintaining positive interdependence. As compared to individual managers, a team can better research the effectiveness of current strategies and identify the weakness if any. However, it is said that research about groups is not always valid and relevant. The validity of the research depends on various factors including the potentiality of members involved, depth of material evaluation, reliability of information collected etc. Groups are believed to have more potential than individuals in problem solving. It helps organizations to compress time by effective interaction between the group members. Strategy designed by group is more reliable; and is less likely to flaw as it is the result of negotiation, bargaining and compromise between many individuals. Group can better