The Internet may be considered one of the best technological developments in the last 100 years. At present, the Internet has generally made huge impacts to different aspects of people’s lives as well as in various sectors of the society. In the business sector for instance, noted that the Internet has had effect throughout the business sector. This paper aims to discuss the implications of the Internet to my major subject which is Business. First, this paper aims to discuss how professionals in the area use the Internet. Second, this paper aims to discuss how the Internet improved efficiency. Lastly, this paper aims to discuss how businesses could use the Internet in the future.
(Elango, B. (2000). Impact of the Internet on Small Business: A Survey of Entrepreneurs. Entrepreneurial Executive, 5(1), 85-100)).
Professionals, including marketers, financial consultants, operations managers, and human resource managers are among the individuals that have greatly benefited from the Internet. These professionals rely on the technology of the Internet to perform their tasks and responsibilities. For marketers for instance, the Internet offers great possibilities for marketing and promoting products and services. For instance, the Internet provides a way for marketers to provide detailed product information, establish presence in new markets, enhance the company’s corporate image, encourage customer involvement in developing and improving products, establish interactivity with the customers, and handle customer complaints and queries [1].For financial consultants, aside from communicating and coordinating with their clients, financial consultants also use the Internet to perform researches to support their financial advices or recommendations.For instance, financial consultants use the Internet to access company information, such as financial reports and other vital data to provide investment advices to clients. Meanwhile, operations managers use the Internet to perform transactions with suppliers and other vendors of raw materials and components for production)[2]. Human resource managers also use the Internet to post job advertisements and accept job applications.
( Powell, T. (2001). e-Transactions: The Impact of the Internet on the Financial Sector. Information Management Journal, 35(4), 26-29. )
One of the benefits that could be derived from the use of the Internet would be increase in efficiency both on the part of business organizations and even customers. Focusing first on the customers, the Internet led to the introduction of on-line selling, which made shopping and buying more convenient and time- and cost-efficient to customers. The Internet has provided a way for customers to purchase products right through the convenience of their homes without having to personally visit a store. In this case, the customers may be able to save time, as they would no longer need to allocate time to go to the supermarket or the department store to buy what they need. Furthermore, the customer would also be able to save cost to the extent that they no longer need to spend money for gas or fuel and transportation to reach the stores they want and to purchase what they need or want.
For businesses on the other hand, the Internet has also helped increased efficiency in several ways. First, the Internet has provided a way to reach customers more efficiently.Businesses use the Internet to reach the customers, primarily through creating a website that contains information about the company and its products, as well as recent news and development, which help in purchasing decisions. With the scope of the Internet, the company may be able to reach more customers at lower costs. Second, the business companies could also use the Internet to process long-distance or cross-border transactions without having to meet in person, thereby promoting efficiency. The Internet provides a way for integrating business processes, which likely results to cost efficiency and effective business support. ( Teo, T. & Pian, Y. (2003). A Contingency Perspective on Internet Adoption and Competitive Advantage. European Journal of Information Systems, 12(2), 78-92.)
In the future, businesses may be expected to benefit more from the use of the Internet. The Internet would allow its users, such as businesses and professionals to capitalize on the different features of the Internet to produce desirable outputs for their respective activities. For example, the interactive nature of the present day internet platform makes it possible for businesses to interact better with its stakeholders more particularly its customers and suppliers, which both play important roles for business success. In addition, the Internet would allow businesses, especially the small businesses to reach global markets in spite of their size. Aside from these, there are still a lot to look forward to in the future, but generally, businesses may be expected to influence more on the technology of the Internet to remain competitive in a highly turbulent business landscape.
References
- Elango, B. (2000). Impact of the Internet on Small Business: A Survey of Entrepreneurs.
Entrepreneurial Executive, 5(1), 85-100.
- Powell, T. (2001). e-Transactions: The Impact of the Internet on the Financial Sector. Information Management Journal, 35(4), 26-29.
- Teo, T. & Pian, Y. (2003). A Contingency Perspective on Internet Adoption and Competitive Advantage. European Journal of Information Systems, 12(2), 78-92.
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