Brand Story

The role of the internet in the development of business

September 10, 2020
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The Internet, which is the most useful technology in the up-to-date era, which helps us not only in our daily lives but also in our professional life; it is widely used for educational purposes, gathering information and researching or adding information on various topics. The Internet performs the imperative role in every aspect of life in the current age. Relationships with customers are crucial to business success. The Internet supports corporate businesses to connect with customer communication channels and build strong networks among purchasers and sellers. Communication with internet platforms helps businesses gain new customers and retain existing customers. The internet helps companies obtain data, analyze information to create better and more effective products, and plan marketing before investing money in product development. The internet helps companies test and collect the data behind product and service ideas. Business proprietors can officially visit social networking sites and online message boards to see what everyone thinks about a particular product or service. Getting these comments helps business owners improve their products. The Internet plays an important role in making business communication easier and faster, whether it is to interact with employees about various business problems or communicate with customers to answer their questions in real-time. The Internet has many roles in online businesses: Global reach, 24 hours a day, 7 days a week, Improved customer service through extra scope with changes in circumstances, minimize expenditure, earlier merchandise delivery, increased professionalism, less paper waste and opportunities to manage your business from anywhere in the world.

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It is widely acknowledged that the development of electronic commerce and Internet technology has led to many new opportunities to transform the nature of business networking into business, for example through internet-mediation, reintermediation, and the creation of virtual enterprises. However, discussions about the role of the Internet in such transformations in the electronic commerce literature have largely focused on the potential of the Internet to reduce transaction costs, especially search costs. It is now accepted in the strategic management literature that factors other than transaction costs, which are largely ignored in the electronic commerce literature, are important in forming a network between businesses. Therefore, this article aims to reveal the new role that the Internet can play in strategic choices for organizations looking to use e-commerce and Internet technology. This is done through a detailed analysis of the strategic choice of the real case company using three well-known strategic choice theories, one of which involves the production of Internet-enabled distributions: Transaction Cost Economics, Resource-Based Views, and Network Theory. Our analysis shows that, in addition to its impact on transaction costs, the Internet can also affect the specificity of transaction assets, imitation of resources, information sharing in relationship management, and scalability of business strategies. The contribution of this article is to express some of the new research proposals on the potential of the Internet in the transformation of the business into business networks.

The Internet increases business profits, employee engagement, and owner knowledge and risk tolerance. The Internet provides many benefits to businesses. Using the internet for business is a very lucrative bargain. The use of the Internet is a time of demand that entrepreneurs of this century must fully meet. The Internet is a comprehensive solution for business owners. The internet offers more marketing options, benefits, and trading platforms than traditional methods.

Check out this post as well to know more.

Also applications for business planning and product development, open-source software applications for building online businesses, Customers for products and services worldwide, Tools for one-to-one care about business performance and development, the digital data is stored in logical pools for storing business data and information, Manuscript, for business interactions, instant Audio and video conferencing tools, Business automation applications to reduce human presence, Online accounting and bookkeeping software and applications, Social media networks for establishing relationships with character and character development, Online learning courses and platforms, Business and marketing skills Employees , Internet Payment gateways and online payment systems for receiving and sending money with its use, Customer support tools and Remote staff recruitment platforms that are useful for building healthy relationships and raising brand awareness Talent and potential limited to working on business goals and entrepreneurial dreams etc.

Fast and excellent internet development is purely for business purposes. No, if he is not paid at the end of the day, nothing can run on the internet for longer. Remember, the Internet has been living for commercial purposes for the past two decades. However, in the future, businesses will survive using the Internet. Therefore, you must use internet services in your business so that it can grow effortlessly. For Malaysian consumers, apply “Time internet” Malaysia broadband as they have lower prices and increase service levels – including the speed of their offerings. 

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