Ways in which the internet has changed the way business operate in the global marketplace

Ways in which the internet has changed the way business operate in the global marketplace Internet has changed the way of life in this world. No life segments are free from the influence of internet at present. Business is one area which is revolutionized with the introduction of internet. Communication facilities were enhanced a lot as a result of internet and therefore it is possible to do business in any part of the world staying in the convenience of home. This paper analyses the ways in which internet has changed the way business operate in the global marketplace.
Outsourcing is a modern business term evolved after the introduction of internet. It is a business process in which jobs of one organization is getting done in another distant organization with the help of internet. In other words, an American organization can get their work done through an Indian organization without travelling to India. Internet provides all the platforms like email, audio and video conferencing etc for enhancing business communications between people staying in different parts of the world. It should be noted that India like countries have huge manpower strength and therefore labour charges in these countries are extremely low whereas in countries like America, manpower shortage is visible everywhere and therefore labour changes are more. Outsourcing helps American organizations to exploit the cheap labour markets and save billions of dollars every year.
According to new figures released by the United States Department of Commerce e-Commerce Sales accounted for 2. 4% of all sales in the fourth quarter of 2005, up from 2. 3% the previous quarter, Total fourth quarter e-commerce revenues came to a seasonally adjusted $22. 94 billion. For all year 2005, e-commerce sales rose by 24. 6% according to information from the U. S. Census Stats (Internet World Stats News)
E-commerce is another business segment developed as a result of the introduction of internet. Many people started to rely on internet for their purchasing needs. It is easy to purchase majority of the products available in the world through internet. One of the major advantages of internet purchase is the opportunity to purchase anything from anywhere in the world at any time, using credit cards.
Internet opened many opportunities to sell domestic products in international market. Earlier, it was difficult for small companies to sell their products in international markets because of the difficulties in accomplishing exporting and importing formalities. However, it is easy for such companies to sell their products through internet without much hassles.
“ In 2004, 10 percent of business-to-business advertising dollars were spent on the internet. The total amount spent was $8. 7 billion. About 54 percent of the e-mail users have responded to an e-mail advertisement. Almost half purchased a product” (The Influence of Internet on Modern Business). Marketing is another business activity enhanced because of the introduction of internet. Internet provides wider platforms to marketers to reach out distant customers. Targeted ads and customized ads can be performed easily with the help of internet. Direct interaction with the customers is also possible with the help of internet.
To conclude, internet has influenced business in many ways. Outsourcing, ecommerce, etc are some of the business activities evolved as a result of the introduction of internet.
Works Cited
“ Internet World Stats News”. 2006. Web. 19 October 2011.
“ The Influence of Internet on Modern Business”. 2009. Web. 19 October 2011.