Research Project The application of Internet technologies has been a growing trend in the business world for nearly a decade. More and more companies are realizing the benefits of using the web. Web use has morphed from information exchange only to enhancements for collaboration, customer service and customization. These applications now lead to increasing profits; cutting costs, minimizing production, and customer satisfaction in all areas of the manufacturing process. Companies such as Mattel, BMW, and TaylorMade have adopted ways of fine-tuning their strategies to keep up with this growing trend.
Realise future opportunities and threats, and base a strategy accordingly. "Is it cliché to say that 'the Internet changes everything': the challenge now is to say what, how and how quickly". (When Companies Connect, 1999, p.19) The Internet has lead to the birth and evolution of electronic commerce or E-commerce. E-commerce has now become a key component of many organisations in the daily running of their business. Simply defined, "electronic commerce is a system of online shopping and information retrieval accessed through networks of personal computers".
As digital world is broadening its base in every business which has transformed the role of supply chain management over the years. E-business has changed all the rules and models of supply chain. Organization's ability to adapt new technology is the key to increase its productivity. In this report, we will learn how supply chains are merging with e-business, and how this has created immense opportunities to the supply chain management. Structures of supply chains have changed a lot and the performance of these supply chains are wholly dependent upon how they adapt and use e-business technology and innovation.
It is a key fundamental exercise that all businesses must do well in order to succeed. Currently, there are several trends and strategies that more and more businesses are using to sell their products. Use of the internet is growing as fast as ever. Businesses are using this knowledge to market their products over the internet. E-business has become quite popular in the world today.
The effects of this ability to transfer information is substantial for business, it opens up a huge customer base. With billions of potential customers business shows the greatest effects of the internet. The real cause for the adaptation of the internet in every day life starts with education and incorporating the internet into everyday life. In the last twenty years the internet has slowly infused itself with the education of students at all levels. The internet is the largest source of information, it has become a largely successful part of the educational system.
First, it has given people a new way to communicate, through E-mail and web cams. Secondly, it is a sort of modern library where anything imaginable can be researched, and finally, not only in the virtual sense has it changed the world but also in the physical sense. Millions of jobs have been created by way of the Internet, the economy and the way people purchase thing has also changed. Because of these reasons, the Internet has become a staple in society and will continue to influence our lives in a productive way. The world today is in a high point when it comes to the economy, not only of the United States but of almost every first or second world country due in part by the Internet.
The Internet age changed the way the world lives. It links billions of people from around the world to one network and created a new way to socialize. The advancement in technology “improved communication between individuals.”(Marshall) which provides instant access to information and news from around the world. Frederick Moran is an example of someone whose life changed drastically because of the Internet. It transformed his life in positive and negative ways.
Moreover, electronic commerce had included the handling of purchase transactions and funds transfers over computer networks. (Understanding E-Commerce, David, 1997, P.2) Meanwhile electronic commerce is getting stronger than ever. The Internet has given e-commerce a boost. E-commerce is the wave of the future allowing businesses of all sizes to sell their goods online. It is growing along with the Internet too rapidly.
Without a doubt the Internet has revolutionized modern life. Countless inventions, spanning many different decades and countries have contributed to this advanced technology that millions of people use every day. The internet has become a multifaceted addition to an organization’s business communications repertoire. Capable of extending all over the world, the internet is able to transmit broadcasts, distribute information, and provide a platform for instant communication, regardless of one’s physical location. This paper explores not only the internet functions that many modern organizations employ, but also the effects, both positive and negative that may result.