(Tiểu luận) analyzing and assessing the influence of the economicenvironment, technological environment and competitors on google’s googleworkspace product from 22021 to 2023

TRƯỜNG ĐẠI HỌC KINH TẾ QUỐC DÂN VIỆN ĐÀO TẠO TIÊN TIẾN CHẤT LƯỢNG CAO VÀ POHE _ _ GROUP ASSIGNMENT Subject: Understanding Business Research topic: Analyzing and assessing the influence of the economic environment, technological environment and competitors on Google’s Google Workspace product from 22021 to 2023 Members of group : Nguyen Viet Hoa (11212290) Nguyen Thi Huyen Trang (11215845) Nguyen Thi Thuy Quynh (11215103) Ngo Quang Phuc (11214695) Mai Quang Dao (11211243) Class : Quản trị Marketing CLC 63B Teacher : Nguyen Thi Hong Tham HaNoi, March, 2023 Contents I.Introduction: Background: 2 Rationale: 3 Aims: 4 Subjects and scope of the study: Research methods: .4 II.Introduction to Google coorporation and Google Workspace: .4 About Google: .4 1.1 History of formation and development: .4 1.2 Enterprise resources: About Google Workspace: III Analyzing and assessing the influence of the ecomomic environment, technological environment and competitors on Google Workspace Economic environment: .6 1.1World economy: 1.2 Economy of the United States and California: .6 1.3.Google financial statement: Technological environment: 2.1 Technology current statement: 2.2 The impact of technological environment on Google Workspace: Competitors: .10 3.1 Comparison between Google Workspace with some competitors in the office software market: 10 3.2 Apple Workspace’s competitors effects: 12 3.3 Solution 13 IV Summary: .13 I.Introduction: Background: Nowadays, enterprise management software is becoming increasingly popular due to its convenience Because of Covid-19, work pattern has changed from offline (working in the office) to online (working from home) PwC survey found that 19% of employees were ready to work remotely full-time, while 37% preferred working remotely at least two days a week As a result, even after the pandemic, working online has become current work trend thanks to its advantages such as: saving time, saving travel costs, and maximizing work productivity, etc This has led to the growth in demand for using online applications such as Zoom, Microsoft Teams, Google Meet, as well as, document applications Google Docs, Office 365, and project management applications Rationale: In 2022, despite Covid-19 had been subsided, the trend of remote work still continue to be maintained even though many companies have returned to working in the office According to ZipRecruiter, about 39% of new hires have a hybrid work arrangement (option to work in the office/remote), while 18% of new jobs are completely remote (according to a BBC article) The percentage of Employee working remotely, before and after the pandemic Google Workspace had already captured this trend before the outbreak of Covid-19 The applications within Google Workspace were created in 2006, and changed the business management Google from offline to online However, with the current trend, applications which support remote work and corporation management online will continue to develop and appear in the market With so many options, consumers, particularly, businesses and companies, may be confused in choosing which product is suitable for them, and there is a risk that Google Workspace might lose its market share To maintain Google Workspace’s position in the market, our team will research the factors that affect it, identify solutions and propose development direction for business Aims: The research will focus on factors that had an impact on Google Workspace This involves studying, analyzing, evaluating economic and technological environment, as well as competitors We will determine the challenges and opportunities that businesses will face, point out the strengths and weaknesses of the product The results of this research will provide valuable insights for business to build a development strategy for Google Workspace to expand the marketshare Subjects and scope of the study: a Subjects: The economic and technological environment, as well as competitors which had an impact on Google Workspace products b Area of research: Research will investigate the information of economic and technological environmental factors, as well as competitors which had impact on Google Workspace in the past three years (2021-2023) Research methods: a Method of data collection: We will collect secondary data through: the internet, news media, and internal company information b Data analysis: The collected secondary data will be processed by cross- checking to ensure accuracy, and proper referencing II.Introduction to Google coorporation and Google Workspace: About Google: 1.1 History of formation and development: Google was founded in 1998 by Larry Page and Sergey Brin while they were studying at Stanford University Originally, this company was named Backrub and operated as an Internet search engine However, after successfully experimenting with a variety of different technological products, Larry and Sergey decided to change the company's name into Google in 1997 Google soon gained popularity across the globe thanks to its fast and incredibly precise search capabilities Later, Google developed Gmail, Google Maps, Google Drive, and Google Calendar With the goal of becoming one of the biggest technology companies in the world, Google also launched an expansion strategy Previously in September 2015, Google reorganized and established a new parent company called Alphabet Inc, with the desire to separate Google's Internet and other services operations from projects such as robots, gene decoding which assisting Google in focusing on developing smartphones and other products Google is currently considered one of the world's largest corporations, with headquarters in Silicon Valley, California, and multiple sales and engineering offices world 1.2 Enterprise resources:  Technology resources: Google has made significant investments in technology development, including: artificial intelligence, computer vision, voice control, machine learning, etc However, many people know Google best for its search technology and online advertising  Talented employees: Google has attracted the best and brightest employees According to Google's 2020 financial report, the company has more than 135,000 employees globally  Rich data: Google collects data from billions of users every day, allowing them to better understand user behavior and needs => All of these resources enable Google to offer the best products and services to its users About Google Workspace: Google Workspace (formerly known as G Suite) is a set of tools and applications provided by Google to support work, business, and team collaboration Gmail, Google Drive, Google Docs, Google Sheets, Google Slides, Google Calendar, Google Meet, Google Forms and many more are included Google Workspace is designed to help organizations and businesses in increasing productivity and efficiency Although Google Workspace does not disclose specific sales figures, it has assisted Google in increasing revenue and competitiveness in the enterprise technology field Google Workspace is now used by 60% of Fortune 500 companies, and the platform has users across all global industries, including Uber, All Saints, PwC, and many more As a result, Google Workspace has given the company consistent income from paid Google products (especially for businesses and organizations) In addition, Google Workspace also contributes to the integration of the Google trademark comprehensive technological solution for enterprises and organizations Wikipedia claims that sales of Google Cloud (which includes Google Platform & Google Workspace) significantly raised 47% to $3.8 billion Google Workspace helps organizations focus on their core work and work together more seamlessly  Savings on operating costs: Google Workspace provides users with an efficient set of online tools that help save costs for purchasing and maintaining computer systems  Protected and easy-to-manage data: User data is stored in Google's cloud, making it safe and easy to manage, avoiding data loss  Work remotely: Google Workspace supports users to work remotely, helping organizations save office and space rental costs, creating favorable conditions for employees III Analyzing and assessing the influence of the ecomomic environment, technological environment and competitors on Google Workspace Economic environment: 1.1 World economy: Global growth expectations in 2022 declined continuously, and 2023 was predicted to be even more pessimistic Many challenges are emerging, including low economic growth and employment, rising inflation, climate change, etc According to the International Monetary Fund (IMF, October 2022), global inflation in 2022 is forecast to increase to 8.8% (higher than the 8.3% forecast in July 2022), before falling to 6.5% in 2023 and 4.1% in 2024 Average inflation in 2022 is projected to be 9.9% in developing countries and 7.2% in other countries The growth rate is 7.2% There are 95 countries - both developed and developing - that are expected to have an inflation rate of 5-10% Meanwhile, about 80 countries are forecast to have inflation at 5% or less The IMF (2022) also forecasts that global economic growth will decrease from 3.19% in 2022 to 2.66% in 2023, mainly due to the growth slowdown of developed economies (from 2.43% in 2022 to 1.11% in 2023), while there is no major change in emerging and developing economies (3.73% vs 3.74%) The US Personal Consumption Index (CPI) is predict to grow by 2.5% in 2022 and 2.2% in 2023 1.2 Economy of the United States and California: A report from the US Department of Commerce on January 26 showed that the world's largest economy reached an annualized growth rate (data adjusted to reflect a 1year period) of 2.9% in the last fourth quarter This was higher than expected growth rate of 2.8% predicted by experts in a Dow Jones survey, but lower than the 3.2% growth rate in the third quarter The report showed that consumer spending continued to be the mainstay of the US economy’s growth in the fourth quarter, while the real estate market weakened and businesses reduced investment in equipment Document continues below Discover more Marketing from: Essential ME Đại học Kinh tế… 999+ documents Go to course ẢnhPremium hưởng nhận 118 thức rủi ro, nhận… Marketing Essential 100% (19) Premium SWOT analysis of Vietjet Air Marketing Essential 100% (15) Premium Tiki's marketing 3 strategy Marketing Essential 100% (13) PremiumVietnam Research milk tea market Marketing Essential 95% (20) Premium Chien luoc marketing 57 voi dong xe wave c… Marketing Essential 100% (8) strategy This growth figure closed a year of deceleration for the USMarketing economy Compared to the same period last year, the US economy only grew by 1% in the fourth quarter of of OMO washing… 2022, down from 5.7% in 2021 This slowdown partly reflects4 the economy returning to a more normal growth pace after a period of explosive growthMarketing driven by reopening, 92% (37) economic stimulus packages, and the ebbing of the Covid-19 pandemic Essential Premium In 2021, California's economy continued to recover positively and is expected to grow by 6.3% For the period from 2022 to 2023, the California economy is forecast to continue growing at rates of 4.4% and 2.9%, respectively 1.3 Google financial statement: The market economic situation and the Covid-19 pandemic have had certain effects on Google in general and Google Workspace in particular To be specific, although the revenue continues to grow, the company's profit has decreased by 27% compared to the third quarter of 2021 This shows that advertising is not immune to market challenges Specifically, Google announced revenue of its own reached $ 69.09 billion In which, advertising revenue reached 54.82 billion USD, a slight increase compared to 53.13 billion USD in the same period in 2021 The company's net profit in the third quarter of 2022 reached $ 13.9 billion, down 27% from the same period in 2021, much lower than the forecast of $ 16.9 billion of Wall Street experts According to Bloomberg, the cause of this decline comes from competition for advertising costs from other social networks, along with users' tendency to prefer TikTok over YouTube Currently, Google does not publish information about the specific investment costs of Google Workspace in recent years Information about these costs is often companies' trade secrets However, according to an article by CNBC, Google has disclosed some information related to upgrading Google Workspace Specifically, since 2020, Google has made significant investments in Google Workspace to make the product more professional and competitive with Microsoft Office and other competing products Google has made some technology company acquisitions to enhance the online collaboration capabilities in Google Workspace However, information about the costs of these transactions is not disclosed From these sources, despite the difficult economic situation and the significant impact on Google, Google Workspace is still a product of concern and is predicted to develop strongly in the future Technological environment: 2.1 Technology current statement: Along with the outbreak of Covid-19, remote work-related technology has been significantly developed to meet the need of users Online collaboration software such as Microsoft Teams, Zoom, and Google Meet have been upgraded to support communication and remote work They allow users to organize online meetings, share screens, documents, and videos Additionally, these platforms also integrate with other tools such as online collaboration applications to support team working and project management This confers several advantages, including cost savings on office rental and reduced commuting expenses, as well as greater flexibility in managing schedules and arranging tasks to meet individual needs - About Artificial Intelligence (AI): Artificial Intelligence (AI) has taken a big step forward after the Covid-19 pandemic and become a useful tool for businesses in data analysis and identifying patterns and trends Using AI to analyze data is beneficial for businesses, as it helps solve complex problems, saves time, and reduces costs Moreover, businesses also use AI technology to protect data Many business and companies have started using AI to detect and prevent cyber-attacks, data hacks, and other malicious activities SSL/TLS certificates and data encryption, for example, are used to ensure the security of data transmitted over the network Business and companies have also improved mobile device security, such as using facial recognition and encryption solutions to prevent unauthorized access to these devices At the same time, organizations and businesses have also been more concerned about preventing phishing and other online fraud attacks They have increased their ability to detect and handle fake emails and fraudulent websites to protect their data 2.2 The impact of technological environment on Google Workspace: Google was among the first companies to recognize the potential of AI and intergrate it into their products and services In recent years, Google has applied AI to many new features of Google Workspace, especially Smart Compose and Smart Reply Features of Smart Compose:  It is a typical application of AI  It uses machine learning models to suggest words and phrases for users when writing emails or text  It is integrated into Gmail and Google Docs, creating benefits for users The suggestions from this feature help users write faster, reduce typing time, and increase the accuracy of the text Features of Smart Reply:  Another AI application integrated into Gmail  It analyzes the content of emails and suggests appropriate responses for users, supporting quick replies Features of Priority Inbox:  It is an AI-integrated feature that helps users manage email more effectively  It automatically categorizes emails into different types and evaluates their priority based on categories such as "Important & Urgent," "Work," "Social," and "Promotion."  Emails evaluated as important and urgent will be brought to the top of the list and marked in orange Priority Inbox helps users eliminate unimportant or spam emails from the list and only displays the most important ones, saving time in processing email Moreover, this feature also allows users to customize and remove unnecessary email types, optimizing the user experience In summary, the Smart Compose and Smart Reply features of Google Workspace are two AI-integrated applications that help users work more efficiently and save time, making Google Workspace a useful tool for daily office work The emergence of AI has had both positive and negative impacts on Google in general and Google Workspace in particular Positive impact:  Helps Google Workspace improve many search features With the ability to understand and analyze natural language, Google can provide more accurate and faster search results  Helps Google Workspace enhance data analysis capabilities and make predictions about user trends and behaviors, helping to make accurate predictions Negative Impacts:  Challenges in cost and resource management: With the rapid development of AI, Google Workspace increasingly relies on AI to ensure efficiency to better meet the needs and demands of users However, relying on AI technology also means that Google must invest more in research and product development for Google Workspace to maintain its position in the market Investing in AI will require significant investment in infrastructure, development, and personnel training At the same time, they also have to worry about the cost of maintaining and ensuring the safety of AI systems  The development of AI in Google Workspace has a negative impact on Google itself: they have to train employees to use new AI tools and make decisions based on data collected by AI systems This causes disagreements within the organization and poses a major challenge for human resource management Google has undergone a major layoff due to the increasing demand for artificial intelligence personnel and the reduction of staff in offices and other positions Challenges:  The challenge that Google Workspace must face is information security With the ability to collect and analyze AI data, users may be attacked by privacy and cybersecurity threats This is especially dangerous when Google Workspace uses user data for advertising purposes Therefore, processing and using personal data securely and transparently is the responsibility of Google Workspace when using AI As a result, Google needs to carefully consider when using AI technology in Google Workspace With caution and proper action, Google Workspace can leverage this technology to provide users with better features and services while maintaining high ethical and trustworthy standards Competitors: Microsoft Office 365, Apple iWork, and Zoho Workplace are Google Workspace's main competitors in the productivity software market  Microsoft Office 365 is a cloud-based productivity suite that includes Word, Excel, PowerPoint, Outlook, and other applications It has similar features to Google Workspace, but a more user-friendly interface for those who have used previous versions of Microsoft Office  Apple iWork is a productivity suite created specifically for macOS and iOS devices It includes Pages, Keynote, and Numbers that are comparable to Google Docs, Slides, and Sheets, respectively  Zoho Workplace is another cloud-based productivity suite that includes email, messaging, document editing, and other features It is well known for its low cost and ease of integration with other business applications Dropbox Paper, Quip, and Notion are other potential competitors that offer collaboration tools and project management capabilities alongside basic productivity features 3.1 Comparison between Google Workspace with some competitors in the office software market: Feature Strength Google Workspace Collaboration Allows multiple people to edit documents at the same time and allows for real-time Microsoft Office 365 Apple iWork Zoho Workplace Collaboration is good, but not to the same extent as Google Workspace There is a collaborative feature, but it is not the same extent as Google Workspace It has a good collaboration feature and is simple to use collaboration Cloud Storage Provides Google Drive cloud storage to store documents, spreadsheets, presentations, and other files Provide OneDrive cloud storage No private repository provided Documents can be stored in Apple's iCloud Drive or other cloud storage services Provide private cloud storage Zoho Docs Integration Integrates easily with other Google tools like Google Calendar, Google Meet and Google Forms, as well as third-party apps via the Google Workspace Marketplace Integrates with other Microsoft applications However, these features may not be as customizable or flexible as those found in Google Workspace Integrates with other Apple apps like iCloud and Siri Integrates with many third-party applications Offline features Has better are not fully offline features supported than Google Workspace Has good offline features, but not to the same extent as Microsoft Office 365 Has good offline features, but not to the same extent as Microsoft Office 365 Google Workspace's advanced features are quite limited compared to some of its competitors, especially in Provides more advanced tools, but not to the same extent as Microsoft Office 365 Provides more advanced tools, but may not be optimized for some specific industries Weakness Offline functionality Advanced features Offers more advanced tools, such as Microsoft Project and Dynamics 365 the areas of project management and CRM Learning Curve For users who are new to cloud tools or have experience with other office suites, learning how to use Google Workspace can be quite challenging Those who have used previous versions of Microsoft Office will recognize the interface The interface is quite simple and easy to use Interface similar to Microsoft Office and Google Workspace The decision to use Google Workspace, Microsoft Office or Apple iWork is influenced by a variety of factors, including the customer’s needs and goals For users who require a comprehensive cloud solution for teamwork and collaboration, Google is a good choice It is intended to consolidate all tools and applications in one location making it simple for users to access and manage documents 3.2 Apple Workspace’s competitors effects: Google Workspace is facing numerous competitors in the office software market, and in order to deal with these threats, Google Workspace must continue to improve its functionality, security and information safety Iinformation, pricing, and better customer service to retain their users  Features: Competitors may provide more powerful or unique features and functionality than Google Workspace, causing users to opt for a competitor's product  Pricing: Some competitors have lower prices than Google Workspace or offer packages that are tailored to specific customer needs Customers may switch to a competitor's product as a result of this  Information Security and Safety: competitors may offer stronger information security and privacy features than Google Workspace, causing users to choose to use a competitor's product if they are concerned about information security & safety  Market share: Competitors are attempting to increase their market share by creating new products or upgrading existing ones to attract users This could cause Google Workspace to lose market share 3.3 Solution Invest in R&D to improve functionality and innovate new product features, applications, and integrations  Actively promote and promote Google Workspace through Marketing campaigns, and offer discounts to users to retain existing customers and attract new customers  Customer needs and future working trends are constantly being updated In general, Google Workspace must continuously improve, enhance value to be able to compete effectively in the market, and focus on providing flexible and optimal solutions for businesses and users  IV Summary: Life is becoming more and more modern, and technology is constantly evolving as a result Changes in work trends are a step forward, promote that development The remote work pattern was appeard for people to adapt to the pandemic, but after Covid-19 passes, this model is maintained and developed Therefore, the demand for enterprise management software is still raising Consequently, competitors started to show up For examples Microsoft Office 365, Apple iWork, Zoho Workplace, etc Therefore, in this context, analyzing economic and technological environmental factors and competitor analysis plays an important role in seizing opportunities and developing strategies for future threats to develop market share and maintain competitiveness Threats:  Threats from the economy: The US and California economies are declining, affecting Google's financial situation and its investment capital in Google Workspace  Threats from the competitors: Business management support applications are appearing extensively in the market, causing customers to hesitate due to too many choices Google Workspace is no longer a top priority in consumers' minds, leading to loss of market share to competing rivals Opportunities:  Realizing the development of AI in the near future, Google has invested in AI, and integrated AI into Google Workspace to optimize user experience Therefore, it increases its competitiveness From the above opportunities and challenges, our team proposes some directions for Google's development:  Continuing market research: understanding the needs of potential customers while capturing current trends, thereby developing Google Workspace suitable for the current market  Developing AI and automation features: this is an advantage of Google Workspace, helping users save time and increase productivity  Catching up with changes in the economy, to create appropriate pricing policies, maximizing business profits Reference Materials: 1.Bức tranh kinh tế giới năm 2022 triển vọng năm 2023: https://kinhtevadubao.vn/buc-tranh-kinh-te-the-gioi-nam-2022-va-trien-vong-nam-202325100.html 2.Kinh tế Mỹ tăng trưởng 2,1% năm 2022: https://vtv.vn/kinh-te/kinh-te-my-dung-truoc-nguy-co-suy-thoai20230127084941644.htm 3.AI góp phần khiến 12.000 nhân viên Google việc: https://vnexpress.net/ai-gop-phan-khien-12-000-nhan-vien-google-mat-viec4562583.html 4.7 ways AI is making Google Workspace better: https://blog.google/products/workspace/hybrid-work-ai-tools-io-22/ 5.A new era for AI and Google Workspace: https://workspace.google.com/blog/product-announcements/generative-ai 6.Google is adding AI to its work apps Here’s what that means: https://www.washingtonpost.com/technology/2023/03/14/google-workspace-ai/ 7.Microsoft 365 vs Google Workspace: Which productivity suite is best for your business? https://www.zdnet.com/article/office-365-vs-g-suite-which-productivity-suiteis-best-for-your-business/ Google extends G Suite identity and security device management to Windows 10 PCs: https://www.computerworld.com/article/3541409/google-extends-g-suite-identity-andsecurity-device-management-to-windows-10-pcs.html 9.The Best Cloud Storage and File-Sharing Services for 2023: https://www.pcmag.com/picks/the-best-cloud-storage-and-file-sharing-services 10.Google Workspace vs Microsoft 365: Which Is Better for Productivity? https://www.pcmag.com/picks/the-best-cloud-storage-and-file-sharing-services 11 Wikipedia Google Workspace: https://en.wikipedia.org/wiki/Google_Workspace 12 Wikipedia Google: https://en.wikipedia.org/wiki/Google