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Technology
Introduction
The rate of change in technology has increased drastically. It has opened lines of communication that have allowed many businesses to be more effective in communication globally. In addition, technology has introduced various forms of communication, which have allowed many business people to communicate effectively within global marketplace. This paper discusses some of ways in which internet has changed how business operates within global market place.
Internet has made businesses to grow faster than before since it has revolutionized the way businesses operate globally. E-mail interaction has advanced to the point it has been on the phones thus making an individual to connect to the internet easily and communicate with different customers globally. As a result, it has increased interaction between business operators and the clients.
it has encouraged online buying where by an individual only require to give his or her addresses online to be delivered the goods he or she shop. Many have enjoyed online shopping making the global market to grow rapidly. Many have preferred online shopping because less time is needed to shop compared to the usual shopping that require a lot of time and transport This has encouraged many to shop globally since the goods can be delivered via fax through air transport or ship, thus increasing sales opportunities. In addition to its impact on the growth of global market, online shopping has build trust and loyalty. This is because, when customers get the goods they order on time without conning them, it successfully draws them to become frequent shoppers. As they become potential buyers, it tends to increase profit thus ensuring stability of the business internationally.
Internet has given businesses in the global market place new ways of marketing goods and services. Many businesses have collected data and other information about the company, giving consumers a chance to know about the company. Born in mind it is globally used by many people, its effectiveness cannot be ignored. By implementing marketing strategies through internet, it will secure a continuous growth of the market internationally along with creating new markets segments.
It enhances effective relationship outside the regional arena of the global market place. Internet is one of the tools used by many companies to remind customers on special sales and new stock. This in return creates potential customers all over the world since it will make clients to know what is available all the time.
It has generated new ideas for running businesses. Internet provides proper knowledge on how to run a business. With its nature of having, business people have gotten instant ideas on running businesses together with getting ideas on how to maintain stiff competition globally.
On the contrary, internet has had negative impacts on how the businesses operate within the global marketplace. One of the reasons is that it relates to lost productivity. This is because many workers spend substantial duration of time replying their personal e-mails, watching live sporting events in addition to web surfing. As a result, they end spending less time in performing their duties thus resulting to low productivity.
A lot of money is spent each year in ensuring security and confidentiality of online shopping to ensure safe transactions to clients. However, major security threats such as hackers, theft of master card data have led many customers to question the safety of online shopping. This has affected many businesses globally that highly operates on online programs.
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