Business and the internet Student name: heyibo lan Student number: 314822

OVERVIEW OF INTERNET AND BUSINESS Internet has speed up business operations Internet has enhanced effectiveness in business Internet has enhance efficiency of business operations Use of internet business has developed in the past few decades

INTERNET AS A CONTEMPORARY TOPIC The history of internet use in business can be dated back to a few decades ago In the past one decade the use of internet in marketing has gain prominence Initially traditional media like TV, radio and print media were being used in advertisement Now, internet takes the lead in marketing

INTERNET AS A COMTEMPORARY TOPIC There has been an increase in the use of internet in the recent past Access to internet has increased due to increased proliferation of smartphones Businesses have taken advantage of increased internet access to enhance their marketing strategies

INTERNET AS A CONTEMPORARY TOPIC Increased use of internet in business is not only restricted to the retail sector Firms in the hospitality sector have adopted internet particularly in online reservation making Firms in the airline industry have also adopted internet particularly in online ticketing Online reservation and online ticketing have been adopted in the past few decades further showing how internet is a contemporary topic

INTERNET AS A CONTEMPORARY TOPIC Internet has also been adopted by manufacturing firms Internet has been used to enhance effectiveness and efficiency in manufacturing operations Automation and use robotics has enabled firms to increased productivity and ensure uniform quality of output

IMPACT OF INTERNET ON MANAGEMENT Internet has improved the effectiveness of business operations Internet has led to improved decision making by managers Internet production managers to access real time information on the production process leading to the making of high quality decisions

IMPACT OF INTERNET ON MANAGEMENT Internet enhances effectiveness of marketing management Internet makes it possible for marketing managers to access real time information about consumers’ needs enabling firms to delivering satisfactory products and services Internet also enables marketing managers to respond to customers’ complaints on a timely basis

IMPACT OF INTERNET ON MANAGEMENT Internet makes it possible for firm to reduce operational costs The use of internet in manufacturing enables firms to automate processes leading to reduced wage expenses The use of robotics also reduces operational costs in addition to maintaining high quality products The automation of banking systems has led to reduced operational costs

IMPACT OF INTERNET ON MANAGEMENT Internet banking, a recent phenomenon in the banking and financing sector has led to improved efficiencies Employees can access their accounts using smartphones, check balances, download bank statements and perform virtual all bank transactions Internet banking has reduced the wage expenses for firms increasing reducing operational costs

IMPACT OF INTERNET ON MANAGEMENT Internet systems also require high maintenance costs The company is required to spend huge resources on training and development of employees The company also risks cyber attacks that could result into loss of confidential information or costly system downtimes

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