Global Business on the Internet - Assignment Example

 Business in the 21st century faces enormous and incredible changes. One can easily guess that the most fundamental changes are connected with the Internet which is likely to become the core concept of life in the future, as it is extremely hard to find a person nowadays who has never heard of the Internet and does not have an e-mail or a blog. We are currently facing a Great Internet Revolution, and it has become apparent that global business on the Internet can – and will – grow more and more popular and bring more and more profit.

Internet and e-commerce allow businesses to meet new challenges, among which is business globalization. The emergence of Internet technologies makes it possible for international businesses to reach out to their clients in the remotest areas of the globe, start dealing in cyberspace, and thus save their money. Modern businesses are increasingly more often using e-commerce as a key element in their operational activities. Web-generated retail sales amounted to billions of dollars and euros in each separate country, customers also use vendor websites to examine products and services before purchasing them in a conventional outlet, and along with boosting business with consumers, e-commerce has become a basis in maintaining successful communication between suppliers and partners.

Automation of purchasing and sales processes enabled enterprises to respond more quickly to changing business requirements. In turn, this has noticeably increased business-to-business revenue. The Internet can be used for carrying out market research, supporting suppliers and clients, exchanging commercial information, and creating joint ventures. With the help of the Internet, companies are also capable to develop new products, accept orders, receive the necessary correspondence and official documents, conduct specialized information searches in the appropriate organizations (for example DIALOG Information Services Inc., Data-Star, Dun & Bradstreet, Lexis-Nexis, and others) and even sell their products.