Square Essay Example | Topics and Well Written Essays - 1000 words

Square - Essay Example When Apple becomes the first to adopt this platform, it means Square will lose a lot of clients most so the technology oriented who are the majority in the current market place where convenience is the key determinant (Glover, Stephen and Douglas). The second need for Square Inc to adopt an e business platform is to enable it to extend into the non-US markets and this has to happen at the fastest rates. If this does not happen then the competitors like pay pal would snap the idea and use it to the disadvantage of Square. Square has therefore to be able to adopt the e business platform to catch up with the competition by being able to provide its customers with a variety of products, at affordable costs and with the convenience desired by most of the firms (Glover, Stephen and Douglas). Square will be able to integrate such operations through EMV in some countries and NFC in other countries. This would ensure that their operations are widened for diverse solutions in the vast financia l markets. Businesses face a lot of problems most so those that are involved on the online payment systems such problems range from the problems of uncertainty, the ever expanding global market, and the need for innovation. The largest problem is that which emanates from regulatory requirements. Uncertainty affects many business managers in the manner in which it would affects the operations of such businesses in the credit markets, global economy and how regulations would affect the operations of such businesses. Globalization affects the operations of Square due to the unpredictability of how different cultures would perceive their new products hence their penetration of the new markets (Glover, Stephen and Douglas). Before designing new products on the e business platform, such considerations costs the companies a lot of time in the manner they would conduct the same to get more customers while maintaining the ones they already have. This is because innovation and inventions are paramount most so in the volatile technology market. Square Inc faces a turbulent environment due to the existence of the competitors; this does not make the product design environment sleep because this would cost them from their competitors (Laudon, Kenneth and Carol). The business therefore tries to get the problem of innovation solved while still ensuring the control of the organization is in place. Without ensured control the hands of the law through enacted stiff regulations may also impact on the organization negatively. Regulations on energy, environment and financial policies are the most sensitive and require careful handling. As Square designs their new e business products they must ensure they operate under the regulations to avoid charges which are costly to businesses (Laudon, Kenneth and Carol). According to Harvard business review on business and the environment, the idea of business through the internet has changed how the customers interact with their providers and this has lead to the growth of e business. For companies like Square, e business is important because of several reasons. One is that e business leads to increase in the speed over which transactions are done. For example the time over which clients would do ordering is reduced since it can be done much quickly over such platforms since the internet covers a wide area network. For Square inc, e business would therefore mean better procurement and the