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How the Internet affects the Business World
Internet affects the business world by playing an important role in the world of business. This is because virtually everything can be found on the internet. It is a highly versatile facility in making it possible to deliver services of different fields conveniently. It facilitates important information to be accessed by suppliers and customers conveniently improving the levels of communications significantly. Most importantly, the internet has become a leading tool for facilitating smooth operations in the E-commerce and money transfers across the world. The discussion will illustrate how the internet affects the business world by facilitating communication, ecommerce and money transfer functions.
The internet makes communication in the business fast, efficient and cheap through online communication services. The internet has greatly made it easier for businesses to communicate easily cutting the barriers to communication. Such barriers removed by the internet in communication include delays in distances and high costs (Carleton University 1). Communication can take place between people of different continents over considerably long periods of time at affordable rates. The most commonly used platforms are the websites, emails and social media websites. These have increased user interface and has made it possible for people in all walks of life to access and use them to connect with each other.
Carleton University (1) notes that internet enhances communication by sending large volumes of data from one address to another. Finally, it facilitates families to interact economically over long distances. This is because a person working overseas is able to send money through secure and fast means and support their families from around the globe.
The internet has improved activities in e-commerce through fast, optimized customer services. Through e-commerce, businesses are buying and selling goods and services in the online platforms; making it effective and efficient to do business. Customers can directly contact their supplier and do business transactions effectively and efficiently. Intermediary persons have been eliminated, thus reducing chances of delays and high costs (Mitra 1). Internet packages and distributes distinct information that is important for different business organizations. Businesses are now able to search for crucial information to facilitate their core business through integration of important e-market place information with a relevant e-business application (Carleton University 1). Internet has enabled ecommerce platforms that allow businesses to buy and sell products online.
The Internet has positively affected the business world by making the money transfer function easier, faster and cheaper. Money can be transferred over both short and long distances in an instant. There are strict regulations whose implementation ensure that the process is safe and secure (Carleton University 1). The most commonly used methods of money transfers internationally are through online payment systems (Mitra 1). They used important information like verification codes located in the credit cards to ensure that the process is secure. It is now possible to do business from around the globe. However, it is important to note that there exist regulatory bodies in the global finance sector that regulates money transfer activities to ensure that they are secure. They can easily detect suspicious money transfers and will prompt a fast action against such activities.
The internet plays a prominent role in the business environment in promoting the usage of accurate data through fast effective communication. This has made the internet become a leading factor for obtaining successful results in all organizations. It also offers tracking online tracking systems to ensure that business activities use proper channels for effective and efficient services. All businesses incorporate this vital tool in their everyday business operations as it is fast and reliable. Therefore, The internet will remain an important tool for making all activities in business environment easy and more convenient.
Works Cited
Mitra, Shyamal. “Power and Impact of the Web, University of Texas. 2006.web. 30 September 2015 <http://www.cs.utexas.edu/users/mitra/honors/web2.html>
Carleton University, Sprott School of Business. “Strategy, Structure and Organizational issues in E-commerce.” Carleton University, 2011. Web, Accessed, 30 September, 2015 <http://sprott.carleton.ca/research/research-centres/research-centre-for-technology-management/strategy-structure-and-organizational-issues-in-e-commerce>