Answer:
The advent of the Internet has had far-reaching impact on the global business scenario. Different businesses have adopted the Internet as the sole means of communication between its employees and its clientele. Businesses strive to secure an edge over other equally competitive businesses. With this goal in view, they adopt different types of Internet technologies to grasp the market base and communicate effectively to improve brand awareness and manage the competition. The Internet has also helped businesses to automate manual processes, reduce overall costs, and process information faster. Let's look at a few aspects of business that has been touched by the advent of the Internet.
Communication: Since the advent of the Internet, the way organizations communicate with their own employees and with their clients have changed dramatically. The use of the Internet has led to communication via email and instant messaging channels. This has led to faster communication and in turn, led to quick responses and resolution of queries and complaints.
Business Operations: Another form of business function that has cropped up since the usage of the Internet is E-Business or E-Commerce. It includes involving the Internet and business technology into a company's operations thus reducing turnaround time and allowing a business to process requests faster. Through the creation of websites, companies have helped themselves develop a vast product base to be offered to their customers at the click of a finger. Customers can review detailed information about the products or services they want to avail through these websites thus enhancing their satisfaction index in the long run.
Research: Businesses use the Internet to research various aspects of business expansion and collaboration. Organizations can conduct research to learn competitor trends, their products and services in the market. They can also research relevant information about new product ideas and concepts. Organizations can also learn about pricing trends all across the globe. Any kind of research carried out about the market condition, competitor strategies, and target audience leads to effective planning and implementation of organizational strategies.
Operations: Through the implementation of business software's like inventory management software, accounting software, and so on, companies have been able to track their operations and keep a check on the efficiency and overall performance of each department. This has led to the reduction of costs and thorough communication between the company's distributors, warehouses, and retailers, thus ensuring better decision making, quicker turn around time and greater customer satisfaction.
Marketing: Internet marketing has taken the global market by storm. Information about products and services are available at the click of a button through effective Internet marketing strategies. Companies may decide to reach out to customers and know more about their products through surveys, questionnaires, feedback forms, and comments on a website. Getting to know customer expectations and additional requirements of the products through these marketing techniques, companies can help themselves win the race by adopting beneficial pointers about product improvement strategies. Because of the Internet, even small businesses can sell their products through online websites and avoid the middleman.
Advertising: Internet advertising includes use of banner placements, websites, and search engine optimization to send promotional messages to customers. Effective implementation of these advertising strategies helps organizations to reach out to a wide customer base and get a hold on the market. Effective advertising can also benefit the expansion of customer base by meeting client expectations. Internet allows the business to have a presence on the web thus, ensuring that the business targets potential prospective customers in the most cost-effective manner possible.
Collaboration: Internet technology brings people and businesses together. Through the Internet, activities like Webinars or Internet seminars can be easily organized, leading to collaboration between different types of organizations on the methodologies to be adopted for different projects and its effective completion.
Telecommuting: Many business organizations are allowing their employees to work from home using office equipment. This arrangement is leading to lower overhead costs and less usage of office space and utilities for daily operations. This process is known as telecommuting.