Munich Personal RePEc Archive

Utilization of Business Experiments in Postindustrial Environment

Zagorsek, Branislav (2013): Utilization of Business Experiments in Postindustrial Environment. Published in: (2013)

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Abstract

Information technologies in the postindustrial era require the companies to use new tools to be competitive within the high-velocity environment. One of the new tools they can use is business experiment. Full potential of business experiments rose with the evolution of information technologies. Using sophisticated information technologies or even basic approaches can help to get decisions much faster or even immediately in real time compared to using traditional methods. The purpose of this paper is to present several ways of how to use business experiments that can be used to enhance company’s performance and to find out how prone the Slovak companies are to use business experiments. It should also give a picture how are the business experiments linked to level of informatization of the companies. The two main research foundations of the study were studying actual trends in researches on the topic of business experiments and a self-made survey among 382 companies in Slovakia as a partial outcome of my dissertation research. To interpret the research mathematical and statistical methods were used. First the theoretical basics were formulated and interpreted, as second these basics were enhanced with survey results. The biggest value of this paper is to present some new approaches of how to gain competitive advantage using business experiments. Using the business experiments the competitive advantage can be gained by decreasing the costs when designing the right portfolio, increasing profit by setting the optimal price or just by designing the right product fitting the specific needs of target group or finding the best business conditions like best geographical situation or even finding some correlations between not related products on the first view that allow to bulk them to increase the profit.

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