Final answer:
The internet has changed business by 1) transforming consumer shopping behaviors, increasing competition for local retailers, 2) redefining business-to-business interactions by allowing global connections between suppliers and buyers, and 3) streamlining job searches with platforms like LinkedIn.
Step-by-step explanation:
Impact of the Internet on Business
The internet has significantly transformed business operations in three major areas. First, it has revolutionized the way consumers shop and make purchases. With the advancement in communication technologies, consumers can now order products like books and pet supplies from around the globe, enhancing the competition local retailers face. Secondly, the internet has had an even more profound impact on business-to-business markets. Business-to-business websites have enabled suppliers and buyers worldwide to connect, markedly changing the dynamics of supply chains and procurement. Lastly, the internet has streamlined job hunting via platforms such as LinkedIn, altering how job seekers discover opportunities and connect with potential employers. The ease of an internet search for job listings contrasts sharply with the outdated method of seeking out local employers individually.
These shifts highlight the role of the internet in the broader trends of technology and globalization affecting market definitions. The competitive landscape for businesses has dramatically altered due to these changes, pushing them to adapt and innovate continually.