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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 Workspace from 2021 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: Rationale: 3 Aims: 4 Subjects and scope of the study: Research methods: .4 II.Introduction to Google corporation and Google Workspace: 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 economic environment, technological environment and competitors on Google Workspace Economic environment 1.1 The impact of the global economy 1.2 The impact of the US and California economy Technological environment 2.1 Technology current statement 2.2 The impact of technological environment on Google Workspace .10 Competitors 12 3.1 Comparison between Google Workspace with some competitors in the office software market 13 3.2 Google Workspace’s competitors effects 14 3.3 Solution 15 IV Summary 15 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 continues 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 of 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 corporation 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, avoid 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 economic environment, technological environment and competitors on Google Workspace Economic environment 1.1 The impact of the global economy The risks to the outlook are overwhelmingly tilted to the downside The war in Ukraine could lead to a sudden stop of European gas imports from Russia; inflation could be harder to bring down than anticipated either if labor markets are tighter than expected or inflation expectations unanchor; tighter global financial conditions could induce debt distress in emerging market and developing economies; renewed COVID-19 outbreaks and lockdowns as well as a further escalation of the property sector crisis might further suppress Chinese growth; and geopolitical fragmentation could impede global trade and cooperation A plausible alternative scenario in which risks materialize, inflation rises further, and global growth declines to about 2.6 percent and 2.0 percent in 2022 and 2023, respectively The global economy is experiencing a widespread and stronger-than-expected recession According to the International Monetary Fund (IMF, October 2022), global inflation in 2022 is forecast to rise to 8.8% (higher than the 8.3% predicted in July 2022) before decreasing to 6.5% in 2023 The average inflation rate for 2022 is forecast at 9.9% in developing economies and 7.2% in developed countries Due to the recent recession and inflation, companies and businesses have not been immune to the impact, including Google Workspace As information on the revenue and development of Google Workspace is still kept confidential, the team will use publicly released data from Google and Google Cloud to evaluate the situation of Google Workspace In 2022, Alphabet Inc, the parent company, invested more in enterprise applications Advertisers, who contribute a significant portion of Alphabet's revenue, have reduced their budgets due to concerns about economic recession and consumer spending as inflation and interest rates increase In 2022, Alphabet's stock fell nearly 5% in trading sessions, after losing about 40% of its value 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) Marketing strategy Additionally, the global project management software market is a highly potential market for future development as more and more new businesses emerge or seek to of OMO washing… expand their operations According to Zion Market Research, the global project management software market is expected to grow at an annualMarketing growth rate of around 92% (37) 10.68% during the forecast period (2022-2030) The global projectEssential management software market was valued at nearly $6.1 billion in 2021 in terms of revenue and is expected to reach $15.08 billion by 2030, according to the analysis shared by researchers Premium Recognizing the need for responsible investment with high discipline and identifying areas where they can operate more cost-effectively and tap into the potential of this market, Google has decided to invest in Google Cloud to develop Google Cloudbased products, including Google Workspace - one of the three components driving cloud growth Therefore, changes in the revenue figures of Google Cloud have had a significant impact on the revenue growth of Google Workspace Alphabet, the parent company of Google, announced that Google Cloud's revenue was $7.4 billion in the first quarter of 2023, up from $5.8 billion in the first quarter of 2022 and slightly higher than the $7.32 billion reported in the fourth quarter of 2022 In this quarter, Google Cloud recorded a profit of $191 million, compared to a loss of $706 million last year The company also announced the restructuring of previous results due to changes in cost allocation, narrowing the previously reported loss Google has also updated changes in AI investment partnership Currently, developers and businesses can try out new APIs and products that make it easy, secure and scalable to start building with Google's best AI models through Google Cloud In Google Workspace, the company is introducing new features to help users harness the power of AI to create, connect, and collaborate Currently, Google does not disclose specific investment costs for Google Workspace in recent years However, according to a CNBC article, Google has made some technology company acquisitions to enhance online collaboration capabilities in Google Workspace Ruth Porat, the Chief Financial Officer of Alphabet and Google, said that they will continue to grow the long-term profitability of Google Cloud and invest in potential opportunities This is forecasted to indicate a strong recovery of Google Workspace after the challenges faced in the economy 1.2 The impact of the US and California economy California’s economy is diverse, but its greatest asset is technology, with much of the world viewing the state – and the Bay Area in particular – as the global center of innovation However, there are growing concerns with a range of issues that could erode California’s technology leadership Tech accounts for nearly one-fifth of the economic value produced in the state The $520 billion that it contributes represents more than a quarter of all U.S tech output – more than the next four states combined California leads the nation in tech businesses and dominates the IPO pipeline with 56% of the nation’s private companies valued at more than $1 billion Silicon Valley ranks as the world’s No startup ecosystem, followed by Los Angeles at No and San Diego at No 21 Nearly half of all venture capital in the United States is invested in California, and more than a third in the Bay Area As it emerges from the pandemic, California’s strength in science and technology is undiminished Therefore, as technology is one of the biggest assets in California and the US, Google Workspace has been able to develop freely and is highly regarded domestically, creating momentum for global development As of 2023, over 501,237 companies around the world have started using Google Workspace as an Office Suites tool Google Workspace's customers come from different industries, with the top three industries using Google Workspace for Office Suites being Education (11,715), Marketing (7,963), and Training (5,172) Source: sense.com The top three geographies of Google Workspace for office-suites are the United States with 521863(51.61%), United Kingdom with 56955(5.63%), Canada with 39181(3.87%) customers respectively Source: sense.com Technological environment 2.1 Technology current statement According to Statista, revenue in the Office Software market is projected to reach US$27.80bn in 2023 and expected to show an annual growth rate (CAGR 2023-2028) of 3.74%, resulting in a market volume of US$33.40bn by 2028 In global comparison, most revenue will be generated in the United States (US$14,380.00m in 2023) Source: Statista The Office Software market size was valued at USD 25121.76 million in 2021 and is expected to expand at a CAGR of 4.36 percent during the forecast period, reaching USD 32448.94 million by 2027 Due to the pandemic, office software has started to be widely used, and become a method for businesses to operate efficiently 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 10 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 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 Current technology environment of the world in general and the changes in Google Workspace products in particular have 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 With the increase in demand for office software products, Google Workspace can meet the desires and expectations of customers through its constant development Additionally, while focusing on developing its features, Google Workspace has also made decisions to change its pricing The prices of Google Workspace packages have increased However, overall, consumers still have a positive attitude towards Google Workspace, as the changes in features are worthwhile 11 Google Workspace’s price in 2023 (source: Google) 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 12 Microsoft Office 365 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 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 Strengt h Google Workspace Microsoft 365 Office Zoho Workplace Collaboratio Allows multiple n people to edit documents at the same time and allows for real-time collaboration Collaboration is good, but not to the same extent as Google Workspace It has a good collaboration feature and is simple to use Cloud Storage Provides Google Drive cloud storage to store documents, spreadsheets, presentations, and other files Provide OneDrive cloud storage 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 many thirdparty applications 13 Weakne ss Offline Offline features are functionality not fully supported Has better offline Has good features than offline features, Google Workspace but not to the same extent as Microsoft Office 365 Advanced features Google Workspace's advanced features are quite limited compared to some of its competitors, especially in the areas of project management and CRM Offers more advanced tools, such as Microsoft Project and Dynamics 365 Provides more advanced tools, but may not be optimized for some specific industries 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 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 Google Workspace’s competitors effects Negative impact: Since 2021, Google Workspace has gradually lost market share to Microsoft Office The largest segment, Office Software, accounts for over a third of the market and is widely used in many companies, with Microsoft Office applications dominating In recent times, the Collaboration Software segment, in particular, has become increasingly appealing to companies that prioritize agile methods and new ways of working This trend is expected to continue in the upcoming years, driven by the adoption of collaboration software by more and larger companies Here are some of the adoption rates of popular office suites: 14 Microsoft Office is the most popular office suite with a market share of 87.5% as of 2021 (Statista) Google Workspace (formerly G Suite) has a market share of 8.8% as of 2021 (Statista) Apple iWork has a market share of 1.7% as of 2021 (Statista) Other office suites, including LibreOffice and Apache OpenOffice, have a combined market share of 2% as of 2021 (Statista) This has impacted the market share of Google Workspace in recent years and will continue to intensify competition in the future Google Workspace is more popular among small and medium-sized businesses, as well as educational institutions In contrast, Microsoft Office is widely used in enterprise and business settings In summary, Google Workspace is currently engaged in a race to develop its products and expand its market share in the office software market Positive impact: In the future, not only Microsoft Office but also small and medium-sized companies distributing enterprise applications will gradually compete with Google Workspace However, this competition also brings positive aspects to the development of Google Workspace, such as: Innovation: Competition from other players in the market drives Google to innovate and introduce more features to its Google Workspace ecosystem, with a focus on user experience, in order to improve the product In general, competition among software providers can drive Google to continue improving its products, but it can also directly impact Google's development strategies and pricing As a result, Google must maintain its position in the market by providing innovative and valuable features for its users 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 15 remote work pattern appeard for people to adapt to the pandemic, but after Covid-19 passed, this model was 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 16 WORK DISTRIBUTION No Member Student ID Tasks Nguyen Viet Hoa 11212290 Content in charged: Introduction Summary Contribution percentage 30% Other tasks: Checked and edited members content Summarized member’s content to finish the essay Finished the slides Presented Nguyen Thi Huyen Trang 11215103 Content in charged: Part 3: Technological environment 20% Other tasks: Presented Nguyen Thi Thuy Quynh 11215103 Content in charged: Part 3: Competitors 20% Other tasks: Presented Ngo Quang Phuc 11214695 Content in charged: Part 3: 3.1 Economic environment 20% Other tasks: Presented Mai Quang Dao 11211243 Content in charged: Part 2: Introduction to Google corporation and Google Workspace Other tasks: Presented 10% 17 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 18
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