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Impact of World wide web on business
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1. INTRODUCTION The Internet is a very popular Information Technology means for exchange of information and transaction data between businesses and customers all around the world. For over three decades now, internet has become a prime business market area. The US Government had initially developed the internet for the purpose of research and education within the country. However, today this evolving technology has spurred drastically and has reached out to all the aspects of business and social circles of our daily lives. The intensified use of Information and Communications Technology has had a radical impact on the social circle of every person’s daily life. Organizations being made up of the masses have gotten affected by this technology-revolution. With the intensive growth of the Internet, it has gradually creeped up into the business orientated arena as well. A new electronic economy flux is underway which targets all the assorted trends with this new networking technology. It is deeply effecting how the business is managed and organized globally. E-commerce includes marketing and selling etc of products over the Internet. With the increase in use of credit cards and online payment services, this trend too has benefitted significant strength over the time. The concept of business over the Internet is popularly known as E-commerce. E-commerce today represents a mammoth 300 billion dollar industry (Lee). This intangible market-place serves as an excellent platform for businessmen to promote themselves and to gain new potential business. With the ever growing nature of the internet market-place, the business-grounds become literally limitless for the e-business men. But this is just one side of the picture, with the greatn... ... middle of paper ... ...3-12-22-shoppers_x.htm>. 8. Lee, Choong Y. "A New Marketing Strategy for E-Commerce." A New Marketing Strategy for E-Commerce. Pittsburg, June 2003. 9. Mardesich, Jodi. "The Web Is No Shopper's Paradise." 08 November 1999. www.CNNmoney.com. 04 March 2010 . 10. Telegraph, Peterborough Evening. "Seminar looks at e-security issues." 26 October 2006. Bnet. 03 March 2010 . 11. "Top 5 Problems With Ecommerce Websites." 12 September 2008. Articlesbase. 04 March 2010 . 12. Wilson, T. "Shippers repackaged as e-provides." Informationweek, 25 October 1999.
The future of economic competitiveness for most enterprises relies on entrance and active participation in the e-commerce market. An essential problem with e-commerce is that the controls and organization are different for each site. There is no standard way of building t...
The Economist (1997a). "A Survey of Electronic Commerce." May 10; pages 1-18. Author unknown. Taken from above Kotha essay.
The introduction of the Internet as an additional mass communication media has created new alternatives for information transmission. The ensuing popularity of the Internet has created many challenges that the public sector must deal with. Estimates in 1999 found that there are approximately 171 million Internet users worldwide (Group Computing, Jan/Feb 2000, p. 56). Change in the societal environment has made the Internet an integral part of the American economy.
In India there are many small entrepreneurs setting up an e-commerce model for their businesses. Ecommerce can be fruitful for an organization over the web only if there is a solution to an existing customer problem. This paper aims at introducing basic e-commerce concepts to entrepreneurs who wish to set up an online model (Internet).
Have you ever purchased any product on the Internet, used the Internet to collect information or data, or played computer games on the Internet? You must agree that it is fast, easy, and enjoyable. The Internet has been a part of our daily life for several years now. In addition, in the business world, a new business model, E-business and E-commerce, has appeared for several years. According to Ali, there are two main types of E-commerce: B2B and B2C (2000). One is business to business (B2B). This means that enterprises use the Internet to transact or trade between business operations and their partners. Another is business to consumer (B2C). In other words, enterprises provide products, support good, and services to the customers on the Internet.
Evidently, the internet has revolutionized the society a great deal as far as communication is concerned. For example, information sharing is faster now; it is also easier to find information as compared to earlier on. Moreover, internet technology is undergoing incessant diversification.
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...
Electronic commerce can be defined as the conduct of commerce in goods and services, with the assistance of telecommunications and telecommunications-based tools. Here, the term telecommunications can mean any existing telecommunication networks such as Public Switched Telephone Network, Integrated Services Digital Network, or even Wireless Networks. However the major and the most important telecommunication network of E-commerce is the Internet. The great possibility and potential of E-commerce has been realized with the development of the Internet. Therefore understanding how the Internet works is quite important to better understand E-commerce and to develop E-commerce applications.
Today, society is affected by the many advances in technology. These advances affect almost every person in the world. One of the prevalent advances in technology was the invention and mass use of the Internet. Today more than ever, people around the world use the Internet to support their personal and business tasks on a daily basis. The Internet is a portal into vast amounts of information concerning almost every aspect of life including education, business, politics, entertainment, social networking, and world security. (idebate.com) Although the Internet has become a key resource in developing the world, the mass use of Internet has highlighted a major problem, privacy and the protection of individual, corporate, and even government security . The argument over whether or not the Internet should be controlled by the government has developed into a controversial issue in almost every country in the world.
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.
Recently, the Internet has become the most significant technology in all over the world, which is not only used by the people to contact with each other but also utilized by the business organizations to become global (Taylor, Caeti, Loper, Fritsch & Liederbach, 2006). Computer and internet enable the business organizations to execute the Electronic commerce business model, which has become very popular. Computers and Internet are a powerful source in the success of globalization and international business. Computers are being used worldwide and due to this, cyber crimes are increasing continuously with a rapid growth (Cheeseman, 2006).
In our society, there has been a revolution which competes that of the industrial revolution. It is called technological revolution. At the top of the technological revolution is what we call, the Internet. In the following report we will be discussing about what the internet is about in general and how it might be in the future, why it is necessary in our everyday lives, and why has it become so important to everyone (i.e. companies, individuals ).
Electronic Commerce as popularly as E-commerce has become a big deal in our growing economy due to the increase use of online systems. E-commerce now of the fastest growing business in the world. The technology has change the way of business. Business that have physical location have now made it an effort to focus their online business. It is the new sort of business platform where you can make use of different technologies like electronic data interchange or transfer document electronically. Online business is an effective of sales.
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.
E-commerce means that the company runs their business online, not like the traditional business way. We have to go the shopping mall or store to get goods that we need, E-Business is the enabling of electronic communication between any two or more participants in a business relationship. It helps companies capture abroad business field, cost saving, and market opportunity. E-commerce is an important factor that is making people’s lives more efficient.