Role Of The Internet In Business Essay Example | Topics and Well Written Essays - 500 words

Role Of The Internet In Business - Essay Example The Internet helped business in enhancing communication facilities. It is easy for Bill Gates to control his business activities in China or India, staying in New York. The Internet provides instant chat, audio and video conferencing like communication facilities so that it is easy for an executive in America to communicate instantly with his subordinates in any parts of the world. Outsourcing is a new concept developed across business circle because of the development of Internet-related technologies. It should be noted that in America and European countries, the labor cost is extremely high whereas, in India or China, it is extremely low. Thus, Chinese and Indian products are cheaper in the international market compared to that of America or Europe. This is really a problem for American and European companies. Outsourcing helps, these companies to exploit the cheap labor in overseas markets so that they can compete effectively with Indian and Chinese companies. The development of E-commerce is another contribution of the internet to the business world. Online business is growing much rapidly than offline business according to many studies. Offline business cannot provide the convenience of online business. For example, in order to purchase certain commodities, a consumer has to visit shopping malls. For employed people, it is difficult to spend too much time for shopping purposes. Such people can purchase goods while resting at home with the help of internet. Moreover, e-commerce helps a person to purchase goods from the international market. In other words, he can search for better options with the help of the internet before purchasing a certain item from the global market. Such facilities are not provided by offline businesses. Advertising is a major business function, which helps organizations to promote their product.