Assignment on Business Intelligence System & Emerging Economy

            The essence of globalization has boosted the activity of businesses and economies all around the world, which is resulting in the shape of creating more emerging economies. It is important to know that when emerging markets or emerging economies are discussed, it means that reference is being made to the developing world countries, which are increasing the pace of their economic growth by adopting new business and dynamic trends. It is a fact that economic poise has changed a lot in the last 20 years. The good thing about these emerging economies is that they are not only going in the right direction, but their role is pivotal for the global economic growth (Baffes, Kabundi, Nagle, & Ohnsorge, 2018). However, the journey is tough and long for the emerging economies to be able to do something substantial. According to Sharma, Luk, Cardinali, & Ogasavara (2018), people involved in the research and marketing field are also faced with numerous challenges to dig out how they can approach the consumers of emerging economies as compared to developed economies. However, such challenges can be dealt with a proper strategy and planning to move forward. The role of entrepreneurship will be critical for emerging economies to help them in facing several challenges, and coming up with new ideas (Bruton, Ahlstrom, & Obloj, 2008)

            If emerging economies have to walk this difficult path of growth and development, then they must understand that role of Information Technology will be imperative for them in so many ways. That is why Roztocki & Weistroffer (2010) have focused on emerging economies to make an investment in the field of IT so that they can rapidly achieve their objectives. The good thing is that research has proved a variety of benefits, like Neubert & Krogt (2018) has provided evidence about the software firms of the emerging economies, how they improved their overall performance of exports with the help of business intelligence solutions. The beauty of business intelligence is that it extensively helps firms of emerging economies to make better and informed decisions. They are able to make these decisions because business intelligence provides more insights to find targeted information to find pertinent solutions (Srivastava & Prakash, 2018)

            Business intelligence is being used by various emerging economies to get more efficiency and efficacy in their processes. One good example is from Brazil and China as both countries have used an aggressive strategy to adopt modern trends such as business intelligence to stay focused on rapid growth and development. This is the kind of commitment needed by other emerging economies (Goldstein & Pusterla, 2010). Another proven example from the emerging economies is India, which has developed a lot in the field of IT and business intelligence. Despite various domestic issues and problems, they have taken a variety of right steps to stay on course. If they will continue in this fashion, then they will be showing more positive trends in the future (Agrawal, Pandit, & Menon, 2012). Regardless of its importance, Bangladesh is another emerging economy, which has not been able to adopt the true sense of business intelligence. They have been even struggling to implement competitive intelligence systems, and if they want to achieve growth and development to find a spot in top economies of the world, then they will have to find new strategies to implement business and competitive intelligence systems (Chowdhury, Hamid, & Akhi, 2019)

 References of Business Intelligence System & Emerging Economy

Agrawal, N. M., Pandit, R., & Menon, D. (2012). Strategy to usher in the next phase of growth in the Indian IT industry. IIMB Management Review, 24(3), 164-179.

Baffes, J., Kabundi, A., Nagle, P., & Ohnsorge, F. (2018). The Role of Major Emerging Markets in Global Commodity Demand. World Bank Group.

Bruton, G. D., Ahlstrom, D., & Obloj, K. (2008). Entrepreneurship in Emerging Economies: Where Are We Today and Where Should the Research Go in the Future. Entrepreneurship: Theory and Practice, 32(1), 1-14.

Chowdhury, Y., Hamid, M. K., & Akhi, R. A. (2019). Impact of Macroeconomic Variables on Economic Growth: Bangladesh Perspective. Information Management and Computer Science (IMCS), 2(2), 19-22.

Goldstein, A., & Pusterla, F. (2010). Emerging economies' multinationals: General features and specificities of the Brazilian and Chinese cases. International Journal of Emerging Markets, 5(3/4), 289-306.

Neubert, M., & Krogt, A. V. (2018). Impact of Business Intelligence Solutions on Export Performance of Software Firms in Emerging Economies. Technology Management Review, 8(9), 39-49.

Roztocki , N., & Weistroffer, H. R. (2010). Information Technology Investments in Emerging Economies. Information Technology for Development, 14(1), 1-10.

Sharma, P., Luk, S. T., Cardinali, S., & Ogasavara, M. (2018). Challenges and Opportunities for Marketers in the Emerging Markets. Journal of Business Research, 1-31.

Srivastava, A., & Prakash, A. (2018). Leveraging Business Intelligence for Organizational Performance the Emerging Economy Context. International Journal of Management Studies, V(2(1)).