How Has Internet Technology Changed Business Models?

Looking back, technology has always been a part of our culture. Over time it has just looked differently and it has changed in many ways. One of the main technological features, the Internet, or what it originally was referred to, the World Wide Web, has made the most significant advances. In 1992, researchers from the University of Illinois created a browser called Mosaic. It allowed a simple way to search the web. Once word got out Congress allowed for companies to use it for commercial use and its popularity just spread. Websites, blogs, business and social media have taken us over by storm. The transformation of digital television, laptops, and cell phones have also completely defined our culture and how we integrate into society. The internet has brought all cultural, socioeconomic and educational and business groups together, but not without a price to many.

The internet has been the rise and fall of many entrepreneurs. For example, the rise and fall of the DOT-com. The DOT-com in a business whose main sail and advertisements are on the internet. DOT-coms are businesses like Yahoo.com and Ebay.com. In the early 1980’s the commercialization of the internet started. This allowed and promoted the DOT-com bubble. The reason so many thought that the DOT-com was a superior way of doing business is because the startup was lower, the rent space was less and you could do business easily with in America and worldwide. There were many other advantages that appealed to startup companies to help finance the DOT-com phenomenon.

I believe the internet has created a more competitive market. This competitive market has many buyers and sellers. There are many standardized to individualized products in this market. There are really no real barriers to market entry or exit. The Internet has become a platform that has completely changed the way a company can do business. The internet has allowed small business to become multinational operators because of the market chosen. Price and product quality decision can be made using this market because research

Businesses are discovering the Internet as the most powerful and cost effective tool in history. The Net provides a faster, more efficient way to work colleagues, customers, vendors and business partners- irrespective of location or operating system harnessing this powerful resource gives companies strategic advantages by leveraging information into essential business asset. The "technology of the future" here today. This is a fact. Businesses making the transition will, and are prospering; however those that do not will most certainly suffer the consequences.

The internet offers the potential to achieve a global market success for any business. Businesses that go online increase their opportunities to reach their target market and is cost effective when compared with other forms of marketing. It creates opportunities, benefits and challenges for a business but in the long run is worth it for the added publicity and hopefully profits. Going online has benefited many organisations including Tesco PLC. I will be using Tesco as my example of the benefits, opportunities and challenges for a business by using the internet. Tesco has operated on the Internet since 1994 and started an online shopping service named 'Tesco Direct' in 1997 which

Over the past few years technology has caused significant changes in the way enterprises conduct business.

Information technology has advanced in multiple ways in society, where organizations has implement the structure into their work environment. Industries have outsource their manufacturing to other places in the world and rely on telecommunication to keep the marketing. The geographic distribution has changed significantly by reducing the distance it takes to complete an operation, due to information technology. These are just a couple of examples of how this advanced technology has reshape our society and continuing.

The Internet makes the world smaller. The ability to communicate and exchange information instantaneously and across enormous distances has enabled more individuals and businesses to participate in the economy, regardless of their location. Corporations can connect with suppliers, employees, and customers around the globe, and smaller businesses can find their customers anywhere in the world. Businesses can hire knowledge workers almost regardless of where they are, greatly expanding employment opportunities for people in the United States, and giving developing nations the ability to become economic powerhouses by providing information technology services to the rest of the world (Gates). The Internet, along with other computer technologies, is literally enabling some developing countries to "leapfrog" the industrial revolution and jump straight to the Internet Age (Malaspina 77).

Companies go online to engage in advertising, buying and selling of products and services. Due to the increased competitiveness in the hypermarket industry, the adoption of e-business has helped companies gain a competitive edge over their peers in terms of reduced costs, increased revenue streams and greater customer satisfaction. Operational costs such

Besides, E-commerce is also considerably fast and means that the business will be more efficient. Furthermore, saves costs, as the business does not have the costs associated with running the business. They do not have to pay for such things as lighting, electricity, and fittings. With ecommerce the user has the ability to search for their product without having to look around shops in a time consuming manner. In fact the information is at their finger tips and can be accessed within minutes without even having to leave your home unlike shopping on the high street.

The internet is the easier way for people to communicate with each other. It has made the world smaller by bringing people together everywhere and any time. This invention has important tools for people to contact and it has changed their way of communication in today busy world. In fact people are becoming totally dependent on the internet as a way of communication in their daily life, business and work. The limitation of old communication tools has made the use of internet for communication is wider all over the world .

E-business uses the digital technology to optimize the business activities of organization in order to increase the efficiency and effectiveness of operation and gain competitive advantages. E-business provides the solution that allows the organization to instantly share database, information of products and services, financial figures and data and nearly anything else that the organization may need to operate the business activities effectively and efficiently (Nguyen, 2013). E-commerce which is the abbreviation of electronic commerce is the subset of e-business. It focuses on the online transaction which includes selling of products or service by using computer network, primarily the Internet.

The Internet changed our life enormously, there is no doubt about that. There are many advantages of the Internet that show you the importance of this new medium. What I want

Business has thived on the internet, internet business are able to reach a wider market [2]"Through the internet, a business of any size can compete in the global marketplace. In fact, on the internet, the size of an organization's operation makes little difference because the internet is an open environment. " because anyone has access to the internet businesses can reach anyone also giving the customer a wider choice of products.

Technology is influencing just about every part of our lives. On account of the Internet, basically anything you yearning could be conveyed to your entryway in a matter of days. Individual data is more open over the Internet too - you can find everything from a departed cousin to the enlisted sex wrongdoers in your neighborhood. You can even exchange stocks or document charges on the web. Folks don't have to lose slumber sitting tight for their adolescent girl to return - they can simply call her phone, or send an unpretentious content, to examination.