Importance of Internet in Business

How has the rise of the World Wide Web changed business practices? What are the benefits and drawbacks for business? For consumers?

New technologies offer services and products that otherwise would be too difficult, costly, or time-consuming and the Internet allows traditional competitors to introduce new products and services and lure customers away. It helps a lot in cost saving.

Details: The internet has created new ways to do business for organizations with much less capital planning as opposed to the high capital needs of traditional brick and mortar organizations.

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.

As the Internet can be accessed all over the world, advertisements can easily spread awareness of a product, opening the possible market to not just local customers. At the same time, the Internet has changed the productivity of business and helped to create many jobs. The field of business requires a quick stream of communication, with Email, companies can easily and quickly speak to their employees and associates, allowing for more productivity and efficiency. The way the Internet made jobs were from the increasing amount of people integrating the Internet into their “everyday routines, and as a result, employment blossomed in information retrieval services,” said the bureau of labor statistics. According to their record, “ the increased popularity of pagers and the Internet helped raise employment levels, ” also helping create over a million careers in computer and data processing, making it the second highest growing industry from 1989 and 1999. By creating over a million jobs, helping productivity, and allowing businesses to spread advertisements over the world, the Internet has positively influenced the way business is conducted and helped the United States in its

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

The internet, a new form of communication between computers developed by the military in the 1980s, would have an unprecedented effect on business. During the 90s, business old and new began to make their appearance on the internet. Although, at first, it was a new and dangerous medium, causing many businesses to fail in the Dotcom bubble, the internet caused business and economy to flourish for years to come. US investment in the internet and computers helped it gain much economic power in the 90s and 2000s, leaving other nations who neglected their potential in the

Other companies also address the online environment. The great potential and the numerous advantages of doing business on the Internet have appealed many companies. The online environment allows these companies to reach a larger number

It is now, not only commonplace to have a website detailing the operations of your company, but expected. ?The reality is consumer ? likely even you ? turn to the internet to discover what to do, where to go, who to buy things from and more. Keeping this in mind, shopping online isn?t the only reason people go online. Instead, being online leverages multiple avenues for small businesses to gain visibility among consumers.? (Leinbach-Reyhle, 2015). For a small business trying to compete with other small and larger businesses, visibility is key.

Another positive aspect, that business and government sectors are using the internet communication service. This service have allowed business to work and invest via internet networking .For instance, currently many business companies are sold or advertise their products using networking technology to contact their costumers or other commercial sectors . This is because of the consideration that the time and the cost could be less . In fact the communication network is the main factor of any successful business in today world market . According to ONS: The internet purchases by businesses rose 64.6 per cent, from £37.9 billion in 2003 to £62.4 billion in 2004.(the office for National Statistics ).

In today’s world of business, everything is computerized and most of the companies use the Internet and information business to help keep their quality, save time and also cost. It also can reach out to more customers worldwide. For an example, with a website in the internet, it would relay the message to millions of viewers worldwide regarding the product and service that the particular company can provide and indirectly saves cost in advertising in television and print advertisments.

In order to succeed today, organizations that are competing in global markets are increasing rapidly. The increased use of technologies such as the Internet, intranets, and extranets will definitely revolutionize how businesses will operate and how they will use computers to compete. The Internet and related technologies and applications have changed the ways companies operate their businesses processes and activities. For example, companies can network their offices and share data to be more effective and efficient. However, excessive use of the Internet, intranets, and extranets also create intense

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.

Businesses that use internet as a marketing tool have the advantage of reaching many customers within a short period of time. Marketing over the internet enables the businesses to overcome the