“In 2013, 74.4 percent of all households reported Internet use, with 73.4 percent reporting a high-speed connection.”
- (File & Ryan, 2014)
As the presence of the Internet becomes dominant in our lives and essentially impacting all venues of our lifestyle as the epigraph citation from the U.S. Census Bureau’s 2014 American Community Survey shows, it assuredly affects business organizations to an equal if not at a higher degree. The proliferation of the internet components influences businesses from its strategy to post consumption services. Thus, the overall business planning is influenced by the effects of the Internet in the key areas of planning: the motivation; the planning processes for planning; and thereby the resultant outcomes. In
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According to the book Digital Business – Concepts and Strategy, “The Internet augments resources for planning and may influence the process for planning in two ways: (1) by facilitating communications, and (2) by serving as an information resource” (Coupey, 2005, p. 200). In the scope of “Facilitating communications”, the internet is a major influence since the advent of online chats, instant messaging, virtual meetings, and collaboration portals bridges the geographic distance and provides the opportunity for real time collaborative planning and a measure of cost savings. For example, the Cisco WebEx® provides a collaborative online meeting experience using Software as a Service (SaaS) solution delivered through the Cisco internet cloud. This technology provides, video & voice conferencing, real time content sharing, on-screen presentations and more (Cisco systems - WebEx, 2015) which provides optimal facilitation of communications during the planning process. In addition, in the scope of information resource relevant to planning, the internet provides the secondary research ability for a business to gather various types of information, such as, customer demographics, competitor offerings, etc. This information is invaluable for developing or augmenting the business plan. For example, one of the key elements of a business plan process is conducting a …show more content…
200). As the “Motivation” and the “Process” of planning is influenced by the internet, the resulting outcomes and tactical elements are sure to be influenced as well. The internet will enhance the value chain or “the set of activities that an organization undertakes to move its products from development to the market” (Coupey, 2005, p. 186) by providing capabilities that were not available before the internet. Activities, such as Just in Time manufacturing will not be possible without the online coordination between the materials/parts suppliers and the manufacturer. New product initiative or current product obsolescence can also be identified by online research and thereby change the outcome of the planning by integrating activities for new products or redistributing resources away from the obsolete products. For example, the internet paved the way for “Netflix” to develop a business plan leveraging the internet to distribute movies where in contrast, the biggest movie rental franchise “Blockbuster” failed to integrate the internet in the timely revision of its business plan resulting in the demise of “Blockbuster” (DealBook,
7.Gregory Wester, Stephen Franco. The Internet Shakeout 1996. Interactive Commerce Research Bulletin. the Yankee Group, Boston, MA. December 1995
For many, the dot com collapse in the mid nineteen nineties seemed like the end of corporates’ place on the internet. Very few people trusted these new online companies, which led to many promising websites disappearance, but a few Silicon Valley projects that were able to survive greatly shaped the new wave of e-commerce. Following in the footsteps of success stories such as Amazon.com, many companies have reshaped the way they conduct online business and are fighting to stay in front of new technological advancements during this decade of rapid technological change. The history of Amazon’s success, transformation, and creation is a good reference point to a developing problem world-wide, the displacement of jobs due to the internet and other
In today's competing world, many organizations are rethinking their strategies in terms of the online business and its capabilities and culture. Organizations are taking advantage of the widespread web to buy and sell goods from other companies and recently from individual customers. Exploiting these opportunities of convenience, availability and widespread reach of the web or Internet, many companies such as Amazon have benefited from the use of web successfully.
Value webs are concerned with what goes outside of the firm, and how well the firm coordinates direct, and direct suppliers, and delivery firms, and customers. By working with other firms, and using information systems, an advantage can be gained, by developing industry-wide standards for exchanging information, which eventually forces all market participants to subscribe to similar standards. Information exchange becomes more fluid, which positively influences efficiency, this in turn, makes product substitution unlikely. Such efforts also increase barriers to entry, which discourages new entrants. The internet has made possible to create highly synchronized value webs that integrate different business processes among the whole industry. These value webs are highly responsive and adaptable to environmental changes in supply and demand, as relationships can be bundled or unbundled, depending on the market conditions. Quick decisions can be made in order to optimize the value web relationship in order to deliver the required product or service in the right place and
During the last decade, we’ve been to the top of the world—during the dot-com boom of the late 1990s—and back down again, when it all fell apart a few years later. But with the bad came the good: The Web forever changed the business world. The following small-business owners are shining examples of how Web-based technologies can be a businessperson’s best friend.
Since its comet-like boom in the nineties the internet has attracted myriads of companies to do business on this boundaryless media. And the boom does not seem to stop. eCommerceis a catchword, which stands for a whole branch of new types of businesses that mushroomed up in the last couple of years. Retailers, all sorts of companies, even law offices are using the web for their daily business. There seems to be no comparable other way to develop and exploit global markets. The internet is more and more used as a fast, innovative and cost-saving tool to gain and serve customers where they feel most comfortable and relaxed, namely right in their office or at home (Jonscher, 1999, p.204). In the following there are just three examples of companies, which base a significant fraction of their business on the web.
The business research definition analyzes how the internet affects companies' infrastructures. The article describes how and why the internet raised the bar for companies, who strategically desire to achieve and exceed competitive advantage.
During the past decade, the internet has revolutionized and changed the way organizations do business by offering rapid communication systems and enhanced information access and innovation of technological advancements have created a brave new workplace. Further, the internet enables organizations to decrease expenses, reduce product life cycle time, market goods and services more efficiently (Anandarajan et al, 2000). However, with these kinds of benefits, the internet provides employees with a technique
Business today is inextricably intertwined with technology, from the smallest home office, to a multinational corporation with multiple monolithic legacy application. It is impossible to be in business today without confronting the issues of technology. The way we do business today is different than 30 years ago. Technology has evolved around the areas of telecommunication, travel, stock market, shipping even around our daily lives. E-commerce a system by which people can buy, sell and deal without even seeing the person on the other side has taken a front seat in improving the economy of countries around the world. Technology today has made it possible for monetary institutions to help locate the customers resources and help solve their problems at any given time through online banking. The Internet, a boon to all business, is playing a part of a catalyst; it links millions of customers to its suppliers and vice versa due to this, manufactures are able to cut the role of middlemen and are able to deal with the customers, giving them the ability for direct input from the customers about their choices and views of their product. The busi...
The Internet has changed the way people interact with each other and entertain themselves. It has changed the way business is done. It has also changed the way people date, commit crime, and interview for jobs, it has even changed health care, among many other things. Technology and the Internet are not going away and the need for people to adapt is prominent. Internet is so prominent in Management Information systems. There are Internet based information systems. These systems are important because they can improve company efficiency. These systems can house data with extreme efficiency. Internet based information systems leave the possibilities of efficiency unlimited. Technology is only going to expand farther and new ways to communicate digitally will be introduced into businesses. It has already altered the way we interact with one another, and consumers to suppliers.
In the era globalization, the organization should consider about the business performance and also the strategy of planning in the business. Having a good business performance still cannot survive in the company for long time period, if the manager did not have a good strategy to maintain that business. This opinion supports by Wijetunge and Pushpakumari (2013), state that the low level of strategic planning is the poor performance of SME. So that, both of the business performance and strategy of planning having a relationship each other and it shows that the important in the organization or firm to compete to other and to survive in the market global.
Now internet has become the biggest marketing tool in business trends. People can make purchases in online through credit cards anything from anywhere in the world, and that anyone can become a business owner for their online business.
The Internet has become a key ingredient of strenuous and busy lifestyle. ‘Internet’ has become the central-hub for communication, explorations, connecting with people or for official purposes. Resultantly, Internet growth has led to a plethora of new developments, such as decreased margins for companies as consumers turn more and more to the internet to buy goods and demand the best prices.
According to the author, e-business is conducting business on the internet by not only buying and selling goods, but also servicing clients and collaborating with business partners by using all the human technologies.
Advances in technology have changed businesses dramatically, in particular the communication and information technology that are conducted in firms, which changed the appearance and pace of businesses over the past few decades. ICT in particular, has evolved a lot over the past 30 years; important information can be stored in computers rather than being in drawers enabling information to be transferred at a greater volume and speed (Guy, 2009). ICT has also expanded various forms of telecommunications and workload conducted in businesses, internet examples of this include: e-mails can be used to communicate with others...