Another thing global companies need to take into consideration is costs between countries and currencies as exchange rates can change dramatically, either reducing or increasing costs. While the main benefit of using the internet for value systems and supply chain management globally is communications, it also provides a number of new avenues for business owners to advertise and sell their product such as online stores (Amazon) and auctions (Ebay). This provides many companies the option to cut out steps from manufacturer to consumer thereby increasing profits.
These days, more people think about shopping. Online shopping, which lets customers buy products from a seller through the internet by using web sites, which is one type of electronic commerce. Nowadays, online shopping has become widespread for people and retailers. Retailers have realized that they should move with the times. Therefore, retailers have changed to keep up with this development.
The next few years will see a lot of B2B companies on the Internet developing new designs of supply chain management. Many companies have already found a lot of opportunities in supply chain integration. They are achieving a lot success in efficiency and are gaining advantage over their competitors. While companies are making quick money after the internet bubble burst, the internet has also helped expand supply chain management. The Internet has created more opportunities for companies to buy online and also open their own internet channels.
However the development of information technology has led to a convergence of buying behavior in markets throughout the world. Professor Levitt’s theory will live on as more and more people become part of the global village by interacting online and getting access to the latest technology as it comes to market. Currently the world is experiencing cultural diffusion which encourages cultures to converge i.e. The reality shows on TV are been duplicated like strictly come dancing, idols, apprentices and master chefs. The boom of the online e-commerce will also drive globalization through allowing more interactive purchase and irrespective of nationality; customers from similar education levels from all over the world now have access to information online and can interact with each other irrespective of their cultural
Cultural Environment The cultural environment is made up of institutions and other forces that affect society basic values, perceptions, preferences and behaviors. The internet and World Wide Web are extremely well suited for conducting business electronically on a global basic, Web-based Electronic Commerce(EC) has introduced unprecedented opportunities for the marketing of products and services, accompanied by features, functionality and innovative methods to serve and support consumers. E-commerce has became a major catalyst of the economy and remains a vital growth engine for businesses today, It successful change the consumer behavior. Consumer purchases over the Internet continue to grow from year to year. The survey involving interviews with 42,238 people in 37 countries worldwide revealed that almost a quarter of internet users have shopped online and 15% plan to do so during the next six month.
International management refers to the pursuit of organizational objectives in more than one nation. International management has evolved as a discipline of increasing importance in recent years. The underlying reason is that the corporate community is becoming more and more diverse. Improvements in transportation and communications and lower production costs in many countries around the world have made global markets more accessible. Although United States-based firms have immediate access to huge domestic markets, they have steadily increased the proportion of their foreign markets.
This increase in use of internet by the customers had gradually increased the revenue of advertising and marketing industry. The paper concludes by pointing out the importance of e-commerce in marketing industry and its proper use could lead to the growth of businesses and consequently the country’s economical growth. Introduction Marketing industry has always been a complex field, that integrated marketers, distributors, advertisers, salespeople, PR-agents, marketing researchers, media and many more branches and professions (Kotler, 2003). The Internet has added new marketing possibilities and with them new professions, such as online marketers, search engine optimisation specialists, online advertising specialists, programmers, e-commerce and m-commerce marketers and advertisers. In this study the question of the recent changes in marketing industry will be addressed.
Conclusions In conclusion the Internet has played a pivotal role in transforming industry value systems. It has affected some areas in more ways than others. Logistics and operations have been completely transformed in coordination with globalisation while marketing and sales has found new audiences the world over. With technology constantly evolving, supply chain management is changing with it and (with the Internet linking them together) industry value systems are becoming more and more efficient as time goes by. Introduction The Internet has played a major role in transforming industry value systems through globalisation and supply chain integration.
Introduction Internet technology growth has a huge potential such as it reduce the costs of goods, services delivery and expand environmental boundaries in bringing buyers and sellers together. Internet permits small businesses to gain and maintain an access market that helps them to compete with huge industry. The information and communication technology revolutions, globalization have taken a movement in the economy of world from production based to economy of knowledge based. Internet has also changed the method of business is being conducted the way that it will take important achieve to consumers and transactions. In the present age, Internet is playing an increasingly significant role in consumer daily live.
Today, companies are re-engineering their operations and investing in enhanced IT infrastructures, which enable them to provide customized, personalized, information-rich products and services. The new objective for marketers and business developers involves understanding the needs of their clients and the markets that they serve. This new focus on providing customer value is redefining business processes. Professionals, who understand and anticipate this shift, are positioning themselves ahead of the competition. The Impact of Technology Enabled Business Processes There is no denying the effect that technology has had on the way we conduct business.