The effects of the internet on modern businesses and corporations manifest themselves in several areas. Data Storage and Retrieval The internet and cloud-based software systems have made data storage a game changer for many companies. Not only do companies no longer need the physical space to store thousands of documents, but they are also able to access them quickly and from anywhere.
Within a few years, the Internet will turn business upside down. Just another example of the arrogance and exaggeration the information-technology industry is notorious for? Yes, in the sense that Mr Grove is as keen as the next chip maker to scare customers into buying his products. No, in the sense that, allowing for a little artistic licence, he is probably right.
The Internet is said to be both over-hyped and undervalued. What is more, it is doing so at far greater speed than the other great disruptive technologies of the 20th century, such as electricity, the telephone and the car.
Yet, nearly five years since the Internet developed mass-market potential with the invention of a simple-to-use browser for surfing the World Wide Web, it is easy to overstate its effect on the daily lives of ordinary people.
Even in the United States, the most wired country in the world, most people still lack, or choose not to have, Internet access. Everybody loves e-mail; if you are a teenage girl, chat is cool; and the ability to retrieve information about so many things is truly miraculous, even if search engines are a bit clunky.
All these things are certainly nice to have, but they could hardly be called revolutionary. The Internet is turning business upside down and inside out. It is fundamentally changing the way companies operate, Impact of the internet on corporate in high-tech or metal-bashing.
This goes far beyond buying and selling over the Internet, or e-commerce, and deep into the processes and culture of an enterprise. Some companies are using the Internet to make direct connections with their customers for the first time.
Entirely new companies and business models are emerging in industries ranging from chemicals to road haulage to bring together buyers and sellers in super-efficient new electronic marketplaces.
The Internet is helping companies to lower costs dramatically across their supply and demand chains, take their customer service into a different league, enter new markets, create additional revenue streams and redefine their business relationships. Most senior managers no longer need convincing.
That message is endorsed by Forrester Research, a fashionable high-tech consultancy. If the value of services exchanged or booked online were included as well, the figures would be more staggering still.
There are two explanations: Forrester expects Britain and Germany to go into the same hyper-growth stage of e-business about two years after America, with Japan, France and Italy a further two years behind. And just as countries will move into e-business hyper-growth at different times, so too will whole industries.
For example, computing and electronics embraced the Internet early and will therefore reach critical mass earlier than the rest. Aerospace, telecoms and cars are not far behind.
Other conditions for early take-off include the ready availability of the right kind of software, computing platforms and systems-integration expertise. As both buyers and sellers reduce their costs and increase their efficiency by investing in the capacity to do business on the Internet, it is in their interest to persuade more and more of their business partners to do the same, thus creating a self-reinforcing circle.
However, even within particular industries companies are moving at different speeds. Much depends on the competition they are exposed to, both from fast-moving traditional rivals and from Internet-based newcomers.
But nobody can afford to be complacent. Successful new e-businesses can emerge from nowhere. Recent experience suggests it takes little more than two years for such a start-up to formulate an innovative business idea, establish a web presence and begin to dominate its chosen sector.
By then it may be too late for slow-moving traditional businesses to respond. For evidence of how far most companies still have to go in developing their Internet strategies, look no further than their corporate websites.
Most managers know perfectly well that they have to do better. Yet despite all this positive talk, three-quarters did not yet have websites that would support online transactions or tie in with their customer databases and those of their suppliers, although many were working on it.
In other words, most bosses know what they should be doing, but have not yet got around to it. It is easy to understand why. Knowing that you need a coherent e-business strategy is one thing, getting one is altogether more difficult.
And until you decide precisely what your strategy should be, it will not be clear what kind of IT infrastructure investments you will need to make. They have been through outsourcing, downsizing and re-engineering.
And over the past couple of years, they have invested lots of time and money into nothing more exciting than the hope of avoiding a systems meltdown on the first day of the new millennium.The internet thus has made a big impact in the way the business gets conducted in both positive as well as a negative way.
The internet has made many business obsolete example post offices. Online security issues like hacking, identity theft, etc. are a constant threat to internet users.
Feb 10, · • The Internet and Business The information industry accounts for the largest single share of overall U.S. investment in ICTs —$80 billion in , or about 28 % of the urbanagricultureinitiative.com: Dan Schiller.
Review websites such as Yelp, Epinions and TripAdvisor have magnified the impact of dissatisfied customers. Without the Internet, a single negative opinion may have a limited reach, reaching only the immediate social circle of the original customer. Corporate impact summit hosted by Orange Silicon Valley.
Corporate impact summit hosted by Orange Silicon Valley. Home Download photos He has spent his career pushing the boundaries of technology and passionately believes the internet can deeply impact the betterment of mankind.
He got started on the net before there was a web browser. Jun 30, · State University: Business Opportunities: Impact Of The Internet About the Author K.A.
Francis is a freelance writer with over 20 years experience, and a . Sep 08, · The Internet and the Web constitute the technological infrastructure of the global network society, and the understanding of their logic is a key field of urbanagricultureinitiative.com: Manuel Castells.