Surrey, United Kingdom (PressExposure) February 17, 2009 -- Leading online retailer Amazon has been praised by UK social media entrepreneur Penny Power as a company which has embedded new business methods and philosophies in itâs processes, enabling it to âfeasibly expand into any market it wants to in the futureâ.
In a recent podcast interview for Management Issues ([http://www.management-issues.com/2009/2/12/podcast/the-working-week-88.asp]) Power, founder of social business network Ecademy (www.ecademy.com) used Amazon as a classic example of why embracing social media is no longer an option in business, but a necessity, and that companies who donât will end up becoming dinosaurs of the industry as others take the lead.
Power says that it is not good enough just to bolt new world business methods onto an existing model, but explore ways to evolve the business so that it becomes a core part of the business function. It is this, says Power, that will make the business flexible and able to adapt to the changing needs of its customers and the marketplace.
âWhen the ecommerce world emerged in the 1990âs everyone saw ecommerce as just another tactical thing that a company needed to do, create a team to sell through that channel, but it was never built into their core processes. We are now seeing the fall-out from this. Newer businesses like Amazon were created and now they have the potential to sell anything because they have the processes in place to do so, along with the market reputation. Amazon could be a dangerous competitor for pretty much anyone in the market, they could even start selling insurance or be a bank if they wanted to, now the trust is there, the opportunities are endlessâ, says Power.
Power claims that social media is the new way in which business can build processes to enable lower costs whilst also hearing what their stakeholders are saying about them, 21st Century business is about trust and conversation, Social Media enables the large brands to have this.
âPeople in the 21st Century no longer wish to be broadcast to but are actively involved in discussions and conversations. Two way dialogue is becoming common place in many modern businesses who have been able to remodel their offering for a changing marketplace, leaving little place for those who choose not to follow suitâ, says Power who founded Ecademy in 1998, which now has over a million users worldwide.
Ecademy connects business people all over the world. It is a self-development, business and branding tool, which enable business people to achieve immediate visibility. The relationships, advocates and knowledge subsequently shared through the network provides individuals with the credibility they need to grow their business.
Ecademyâs core intention is to help business people to be more successful and promotes the values of a business community who no longer wish to be broadcast to, but demand engagement and conversation.
Founded in 1998 by husband and wife team Thomas and Penny Power, Ecademy is privately owned and sustains itself through subscription, with only ten percent of Ecademyâs revenue coming from advertising and partnerships. The Ecademy business model is a classic example of a 21st Century business, operating virtually, with minimal operational costs.
For more information visit http://www.ecademy.com