Essay Sample on ToolTopia's Transformation: Navigating Strategic Shifts in Online Retail

Introduction

Keeping news of a potential change of ownership of a company from being released is very crucial as it prevents clients from worrying about its progress, which may perhaps hurt the profitability chances of the company. Company owners who decide to sell their business may use business sale confidentiality or the non-disclosure agreement (NDA) to ensure all interested parties maintain secrecy during negotiations. The purpose of an NDA is to protect the company's financial and intellectual property rights on the sale (Reid, 2013). In the case of Ryan's discomfort with the issues on the buyer's NDA, I think they should propose having in place a new Chief Executive Officer to replace Troy and make it known to all involved stakeholders dictating specific reasons for doing so and not mentioning the sale issue. It would be much easier then, to conceal information concerning the sale of the company to other people.

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Change of Public Perception of Online Retailing since the Inception of ToolTopia

Online retailing is using the internet by organizations to facilitate social and commercial interactions between clients, retailers, and sales intermediaries. Initially, online retailing was viewed as just a matter of advertising a company’s products and waiting for potential buyers to view the adverts and probably request to purchase the items. It is even evident that when ToolTopia initially launched its products on Google, the founder aimed to expand its reach to potential buyers. However, he found out that people were viewing the products and leaving, making them waste a lot of money on advertising (ToolTopia, 2021). Upon seeking solutions, he was given the idea of becoming an affiliate rather than a retailer at a decreased margin at the expense of reducing risks. Troy employed the advice, and with time his business model continued to change. Public perception of online retailing has changed since ToolTopia was launched in 2002, from being just a way of selling goods and services via the internet to being a way through which business models are changed to capture internet sales through building distribution channels like warehouses, internet webpages, and even product shipping centers. It is a matter of enhancing and incorporating changes in the business world.

Technical and Personnel Hurdles Faced by Ryan by Shifting into a Virtual Workspace

Shifting ToolTopia's daily operations from an office-based environment to a telework system required technological and operational adjustments. The process was complicated as they needed to break down the system and connect software to the server and the internet. It is also required to have the employee’s server into a Virtual Private Network and moved to Troy's house. They also needed a developed virtual phone system where the entire process required a company to take an 800 order and route calls in a prescribed manner (ToolTopia, 2021). Ryan's personnel hurdles were that some of his employees, like Travis, did not support the idea of working from home. As an employee, I would have responded to Ryan’s announcement by giving him a chance to affect his ideas, move home, and wait for the results since it has never occurred in my case.

ToolTopia’s Virtual Workspace Versus Virtual Network Structure

A Virtual Network Structure (VNS) is where an organization subcontracts its crucial functions to other different businesses, and activities are coordinated from its headquarters to compete in the market (Hoefling, 2012). A virtual workspace is a network of workplaces that are geographically connected using technology. ToolTopia’s virtual workspace is similar to the concept of a VNS since business activities are done from different locations, and coordinated from its headquarters (ToolTopia, 2021). However, in a VNS, a business subcontracts its critical functions to other companies, while at ToolTopia, its most competitive employees are given essential tasks to work from home. In a VNS, relationships are formalized between the organization and its suppliers, competitors, and other partners while at ToolTopia, employee relationships are formalized. In a VPN, intelligent agents are introduced to implement the network orientation process while at ToolTopia, Ryan and Sarah did the process independently.

Difference between Managing Millennial Generation Workers and Traditional Workforce

Managing the Millennial generation workforce is different from working for a traditional crew since their mindset, skills, and energy vary. The millennials are skilled, energetic, and willing to get more into the business, including its decisions (ToolTopia, 2021). They are people who love working in a new and progressing environment where recent technologies are adopted. The traditional workforce is just comfortable with what surrounds them; they are resistant to change and can only do what is expected of them, leaving the rest to the management. Managing millennials is more open-minded since they challenge their leaders to incorporate more critical approaches to business and are ready to adapt compared to the traditional workforce who are just comfortable with their current workspace and environment.

References

Hoefling, T. (2012). Working virtually: managing people for successful virtual teams and organizations. Stylus Publishing, LLC. http://www.thesmartworkplace.com/wp-content/uploads/2017/01/Working-Virtually-Set-Chapter-1-Mind-set.pdf

Reid, B. (2013). A business review of the ethics and law of non-disclosure agreements. Mustang Journal of Business and Ethics, 4, 72. https://www.academia.edu/download/61217012/v4_MJBE_2013_forwebsite.pdf#page=65ToolTopia. (2021). Integrative cases 11.0. Cengage Learning.