Internet In Business

August 1, 2011 by  
Filed under Internet Businesses Tips

The role of internet in business | Business Performance BlogCommunication: The Internet makes communication faster and cost effective. Businesses use Internet technologies such as Skype Internet calls and video conferencing, email and video for almost instantaneous communication. Growth: The Internet plays an important role in the growth of companies.

It offers companies the opportunity to reach a wider global audience. Promotion through Internet is also a way to increase sales and achieve the desired level of growth. Business can also extend to have an online division.

With a speedy growth of ecommerce, small businesses need to move towards eBusiness and this involves commitment of significant amount of resources to develop a new business plan such as refining of product lines for online sales, advancement of computer systems and websites, hiring personnel to handle the administration of new marketing, sales, delivery systems, etc. Adapting to technological changes is a business necessity. And in this Internet boom, shifting towards eBusiness solutions is the most important technological decision many current businesses will ever make.

A remarkable change in everyday business is noticed due to the inclusion of ‘Internet‘ in business arena. This inclusion of Internet has reformed the traditional way of business and is defined as Electronic Business (eBusiness). Electronic business is more than selling goods and services online. It is to use online assets and tools to do business better ‘ more efficiently and fruitfully. E-Business can be beneficial for any business but small businesses are the most benefited one.

The movement of traditional business towards eBusiness results into numerous advantages. Let us have a look on some of them:.

For thousands of years, men and women have joined together through relationships to form alliances to aide in raising children, community development and others. Businesses have also used the method of networking, including social, to enhance efficiency. Through innovative and inquisitive exploration, we are now able to take traditional network building global.

Businesses that would normally be limited by certain hindrances, are now unlimited. It has created a large window of provisions, sales and productivity. They are able to continue in the usage of their current marketing plan but with the added effectiveness of the online web. Third party guides, instruction manuals, portfolios, consulting, web masters and social media marketing services are all considered a plus. This has helped most to increase in commerce and publicity.

YouTube, Facebook, Myspace and others, are part of a global social movement. Businesses has also taken advantage of this. Through the use of twitter, Myspace, YouTube and Facebook ads, owners are able to reach millions in a matter of seconds.

The Internet ushered in a new way of conducting business. Relationships between buyers and suppliers (B2B) were solidified due to the proprietary nature of e-commerce platforms and database management systems. They were solidified because of the high switching costs inherent in the technology.

Adoption of social media platforms is still not ubiquitous. This is simply because the concept is still relatively new, and popular in only some industries. In fact, social media use is also regionalized. By that I mean that some countries have adopted it much more than others, even though they have considerable access to the Internet (something to keep in mind when considering your target market while designing your social media strategy). And for those reasons there are many companies specializing in social media-related services, and more are coming because it’s still a developing industry, just like the dot-coms were in the late 1990s. The difference is that the Internet was thought to revolutionize the way business is done in general, and many dot-com companies abandoned the fundamentals of business strategy. Very simplistically, this is in part why the dot-com bubble burst early this decade. Not that the circumstances will be repeated, but nevertheless a lesson that today’s social media marketers and service providers should keep in mind when strategically planning ahead. But I’m going off topic.

As such it was often predicted at the time that the Internet would contribute to sources of competitive advantage, the key component of business strategy. This did not happen. As Internet applications evolved along with Internet technology, and implementation as well as hardware costs dropped significantly, it was quickly seen that Internet technology would greatly facilitate business processes and transactions, but not result in competitive advantage for any particular firm or sector, simply because everyone now has access to it, and acquisition and switching costs are often not significant. In fact, the Internet increased competition because it allowed buyers, whether business or consumer, to access information that was previously unavailable to them (competitors, 3rd party reviews, videos, and more), and quickly. In short, the Internet made buyers more savvy.

Use Of Internet In Business | PDK Internet Home BusinessThe cost of advertising on the Internet is based on a lot of clicks ‘ in other words, the company announced that the advertiser pays (eg google) for each click on their ads. There was a scandal ahead of the competitors were by clicking on the announcement of increased costs for the advertiser without providing any revenue for them. Clicking on an advertisement intended to buy favors and harm the company whose product is advertised.

I wonder if there was a way for people who use the Internet to help stimulate the economy by allowing companies that online advertising revenues. But no I’m sure it is the consequences of clicking lots of ads, but not necessarily the interest for the product / service. Moreover, Google it hurt if a lot of people started just click on ads at random, when they were online, as it would have to pay more money.

It does not help econmony ‘ only redistributes resources to advertising companies.

“It’s tough to tell the difference between great, average and bad website providers, yet this decision will have a major impact on your company’s business,” he continued. “To make matters worse, it is very easy to build a website (any kid can do it), and it is easy to throw around Internet buzz words (like social networking, blog, e-commerce, search engine optimization, pay per click, analytics, etc.) that can make some salesman seem expert to someone who is not experienced or confident.”.

He also cited the changing role of catalogs in American life. Whereas in 1965, the Sears catalog was 1,810 pages, in 2010 it was 128 pages. But that’s not to say they are less important. In fact, Dean said, customers who are sent catalogs are 54% more likely to shop; twice as likely to make an online purchase; spend 163% more dollars; and are much more likely to visit your website. Catalogs are aspirational now, and work best to drive consumers to websites.

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Congress. Who was the first Canadian woman selected to pay in the WNBA All-Star Game. What Notre Dame hoops coach got his nickname from his family’s undertaking business. What is the Stanley Cup made of. Where does Shania Twain live with her husband and son. Each day you’ll find a question in our Survey section called ‘Survey Says’. Previously we asked 100 people (actually we asked everyone) ‘Name something that has wooden legs. ‘ Can you guess the number one answer given. Survey says’Name an ingredient you add to food to make it spicy.

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