Introduction

What is the internet? The internet is defined as a ‘vast network of computer networks that stretches around the world’ (Hillstrom, 2005:33). This global phenomenon is continuously growing as the following statistic proves; in 2013 there was 2.71 billion users and this increased to 2.92 billion in 2014 (Statista, 2015).
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Fig 1. (Eagan, 2013)

The significance of the internet in relation to businesses is invaluable and this wiki contribution will discuss this relationship. The contribution will analyse the impact and effect of the internet and also examine the challenges that businesses face with using it. The contribution will look into businesses using new trends such as social media sites as a marketing technique, and will discuss how the internet is potentially detrimental to the Media and Music industry because of the online piracy and newspapers becoming obsolete because news is available instantly for free at the click of a button.





Internet contemporary relevance to the business world

The emergence of the internet has changed the business world, ‘the internet revolution has been cited as the biggest change to hit businesses since currency replaced barter’ (Reichheld and Markey, 2000:173). This quotation demonstrates just how massive the internet is and how its introduction has reshaped the business world and the way businesses now function.

Technology has advanced extensively within the last two decades and the internet is a prime example of this development. The internet revolution occurred in the early 90’s (Marshall, 2015) and reached a large market rapidly. Since its birth, the internet has grown and will continue to do so as new trends are predicted, such as the web 3.0 and the increase use of social media. The internet creates endless possibilities for businesses, and this is why it is the focal point for many organisations. Nowadays, almost everybody has access to the internet and being part of this contemporary movement is essential to ensuring that businesses are kept up-to-date with modern society.

The internet is a 24/7 shop window that allows businesses to reach customers globally. This is a great advantage and has increased customer base and sales within companies. The internet hasn’t only improved businesses, it has also made new business ideas possible. An example of a business that was built around the internet is Amazon. It is the biggest online e-commerce, and without the internet this business idea would not have been possible.

Ways businesses can use the internet effectively

Online recruitment
The internet allows businesses to recruit employees in a contemporary way as opposed to using newspaper adverts. Recruiting online is fitting with today’s society because it is an effective way of reaching the younger generation. The 2011 CIPD survey suggests it is ‘one of the most effective sources of new recruits according to employers’ (Marchington and Wilkinson, 2012:212). This demonstrates that recruiting online is a well-tested method used to reach the mass market.

Online recruitment has brought many benefits to businesses, such as making them more cost-efficient by cutting administration cost and reducing the recruitment process by allowing businesses to receive more applicants because candidates are able to obtain the application form more easily. Another advantage of this method is that customers can see the organisation’s brand. (Armstrong, 2012). This is a significant benefit as candidates are able to learn about the company before applying, ensuring that businesses receive a high number of well-informed candidates. There are a great deal of businesses that use the online recruitment method, for example 99.5% of The John Lewis Partnership’s recruitment is carried out online and this is likely to increase (WCN, 2013). This is a high percentage and it indicates that successful businesses do rely heavily on the internet when recruiting employees.

Social Media
It is believed that social media was created approximately eleven years ago and during this period it has had a major impact on all businesses in some shape or form (King, 2015). Most businesses are recognised on social media, however businesses don’t necessarily have to physically use social media to be a part of it. This is because customers use social media to publicise products, businesses and services -- whether it’s for good or bad. Therefore, if businesses decide not to use social media, they will still be recognised on it. Businesses can take advantage of this as they are able to ‘eaves drop’ and obtain honest feedback from their customers. Overall, social media will always have a place within businesses.
social media.jpg
Fig 2 (Prohibition, 2014)


Qualman says, ‘whether a business is large or small, its overall success will be partly owed to its success within social media’ (Qualman, 2010:13). This statement indicates that social media is vital to the success of all sized businesses. Qualman continues by expressing the connection between social media and businesses ‘social media is living and breathing and it touches every part of an organisation from customer service to front line sales’ (Qualman, 2010:13).

‘Two thirds of the world’s internet population regularly visit a social network, blogging, or social media site’ (Baines et al., 2011:643). Because social media attracts such a substantial amount of people this means that more and more businesses are aiming to capitalise on this. Marketing is a popular way that businesses can use social media. Reputable businesses such as Coca-Cola and Unilever have announced that they are moving away from microsites and investing in social media networks such as Facebook and Youtube (Baines et al., 2011). Coca-Cola and Unilever are both successful businesses and this demonstrates that marketing via social media is an area worth exploiting. Another successful company that uses social media for promotion is Gap. In Gap’s case study it explains the influence of social media on customers, ‘they can get close to the audience in a way that TV and outdoor media do not allow’ (Baines et al., 2011:419). This demonstrates that social media plays an important role in marketing because it reaches people and allows them to express their feelings for everybody to see.

There are many different ways businesses can market via social media. ‘Hashtags’ seems to be a new trend emerging in business social media marketing. Dyson are a business that favour using the hashtags to promote products (see Fig 3). Hashtags are believed to give businesses four big advantages and they are; Promotion, Conversation, Targeting and Innovation (Home Business Magazine, 2013). Although businesses depend on using social media for marketing, there are other ways in which businesses can use social media effectively, as identified in the following quote, ‘organisations are using Web 2.0 technologies to search for recruits and find out more about them online through social networking sites’ (Armstrong, 2012:223). This is another benefit of social media as it enables businesses to find out more about possible candidates.


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Fig 3. (Dyson, @Dyson 2015)


The challenges businesses face using the Internet

Gaining customer trust and building relationships
Gaining the trust of customers and building a relationship with them is a challenging factor that businesses face when selling online. One of the reasons customers are cautious when purchasing online is because there is little interaction with the company. This is an issue that e-commerce have as the internet is still relatively new and customers (particularly the older generation) are still adjusting to the internet revolution. According to Hoffman‘almost 95% of web users have declined to provide personal information to web sites at one time or another when asked’ (Hoffman et al., 1999:82). This is a high amount and this shows building customer trust and a relationship via the internet can be difficult for businesses, particularly for new businesses as customers do not recognise them. This statistic is also supported by the following quotation, ‘in the presence of such risk and uncertainty, lack of trust has been identified as one of the greatest barriers inhibiting Internet transactions’ (Hee-wong et al, 2004:393).

Building a relationship and trust is important as it has a positive effect on businesses, the following quotation demonstrates the outcome of this, ‘purchase more, to be willing to pay more for goods and/or services, to exhibit a high tendency to trust, to become emotionally attached to that firm, and to refer customers to the firm’ (Rafiq et al., 2013:495). Therefore, it is essential for online businesses to overcome the obstacle of building a strong relationship with customers.

Building trust is the main priority for businesses because with trust comes loyalty and this is what businesses need to be successful as it ensure continuous trade. There are ways to build trust with customers, and one way is website quality. A high quality website and businesses presenting themselves professionally helps build trust, ‘web site quality invokes the capability process of trust building’ (Hee-wong et al, 2004:397). The quality of the information provided, such as delivery details and displaying company policies also help reassure the customers. Another way businesses can build trust is by establishing a good reputation this is identified by the following quotation, ‘a vendor can signal its trustworthiness by building a good reputation. Reputation is a main characteristic of a vendor’s trustworthiness’ (Hee-wong et al, 2004:397). Therefore, it is vital that businesses have a good customer service base, high quality goods or services and also protect customer’s personal details as all these features contribute to building a respectable reputation.

Building a relationship with customers online is difficult because businesses cannot deliver customer service in the way that a high street store can. In high street stores customers can be greeted, have a face-to-face conversation and are able to receive the full customer service experience that they expect. However, online interaction between the customer and the organisation is difficult. Although this is true there are techniques that businesses can use to help create a more personalised online experience, as identified by Rafiq, ‘relationship investment can take the form of value-adding features such as personalised webpages, tailored recommendations’ (Rafiq et al., 2013:498). Therefore, this is a method that businesses can use to build a relationship with customers online. There are many examples of businesses using this, such as grocery stores creating personalised shopping lists and clothing stores like Schuh offering live support via video camera and text to assist customers; these are all value adding features that create a personal relationship between customer and business.

The impact of the internet on the Media and Music Industry
Many businesses have benefited from the internet, however this is not always the case. The media industry has been heavily affected by the internet and in some ways this has been to damaging effect, The Guardian states, ‘the public hasn’t lost its appetite for television, journalism or film; shows, articles and movies reach more consumers than ever online’ (Levine, 2011). This demonstrates that the media industry is still popular and that the online consumption of this is continuously growing, however, The Guardian goes on to say, ‘although the internet has expanded the audience for media, it has all but destroyed the market for it’ (Levine, 2011). NBC US television, EMI (Home of the Beatles) are examples of media businesses that have been destroyed by the internet. This is due to the mass market of the internet attracting online piracy.

Online Piracy within the Media and Music industry
The threat of piracy is destructive to the Media and Music industry. The Music industry is an example of a genre that the introduction of the internet has effected, ‘digital piracy which is seen as one of the biggest threats to the music industry today’ (Janssens et al., 2009:78). The following quotation also supports this, ‘internet is responsible for a crisis within the industry, on the grounds that music piracy has become more serious than ever’ (Fragoulipetros, 2015:216). Both these quotes highlight the negative impact of the internet on the music industry and because artists and recording companies are having less control over what happens to their material this could one day result in the Music industry becoming extinct.

The World Wide Web provides little protection for the music industry. Weijters says, ‘if you download the song for free, you have a very small probability (5 %) of getting caught’ (Weijters et al., 2014:538). The amount of people escaping detection proves that more needs to be done to prevent this.

Furthermore, online piracy is not the only risk to the future of the music industry. There are businesses that are providing consumers with free music at the customer’s own convenience, for example, Spotify, ‘the biggest problem here is probably Spotify’s free, ad-supported version. The vast majority of listeners pay nothing for music’ (Lendino, 2014). This encourages customers to become accustomed to not paying for music and this attitude is destroying the music industry.

News Media industry
The internet has transformed the News industry. Newspapers are not only available in print but are also published online, this is because of the mass market that the internet attracts as businesses are forced to fit in with modern society. However, online publication has resulted in the sales of newspapers declining (Ahlers, 2006). Even though newspapers are low in cost, online newspapers are convenient and easily accessible, Ahlers says ‘many media analysts and news media executives have claimed that the Internet is a threat to the traditional news media’ (2006:29). With the younger generations becoming more and more accustomed to a technological environment this could one day result in printed newspapers becoming discontinued.

The following video highlights the concerns of the newspaper industry:

(CNN, 2009)
It is predicted that 2043 will see the end of the printed newspapers in America. (The Economist, 2006). This is likely to be the first of many countries as others will follow suit. Therefore, this will bring a loss of jobs and end the worldwide tradition. To prevent the media losing too much money, some businesses have implemented service charges for their online newspapers. The Times are an example of a business introducing this online charge and this has resulted in them making a profit for the first time in thirteen years (Greenslade, 2014). The Sunday Times and The Sun also charge readers, and although The Telegraph provide a free snippet they charge for unlimited access. The Economist says, ‘newspapers have not yet started to shut down in large numbers, but it is only a matter of time’ (The Economist, 2006). The Economist are convinced that the end of the newspaper is inevitable and they continue by saying, ‘over the next few decades half of the rich world’s papers may fold. Jobs are already disappearing’ (2006). This demonstrates that the media industry will be damaged significantly, however this damage doesn’t just occur to businesses but to the economy too. There are a mass amount of jobs within the News Media industry, however this industry has already seen an 18% decrease in employment since the birth of the internet, and if newspapers are discontinued this will see an even larger amount of people out of the job.


Conclusion

In conclusion, through studying Business and the Internet, it is clear that there is a strong relationship between the two. The internet has transformed the business world and how it operates, however this has come at catastrophic cost to some companies, in particular the music and news industry. As the internet phenomenon continues to grow, preventing these industries from becoming extinct and controlling piracy becomes more difficult. Regardless of these flaws, businesses have advanced in many instrumental ways, such as cost-efficiency with online recruitment, using social media as a free marketing tool and to gain constructive and honest feedback from customers and also making a business venture like Amazon possible.

Overall, despite the damaging effects of the internet on certain industries, the advantages outweigh the disadvantages and the internet has become so essential to businesses that the business world can no longer live without it.


Business and the Internet


According to Hazan et al., the introduction of the internet has had a profound impact on the economy (2011). Using the internet as a mechanism to aid day to day running’s of a business can be seen as a smart concept by many (Angelides, 1997) Further, Angelides writes about the increasing expectations that organisations hold of the internet, for both development and performance (Angelides, 1997)
The internet is ever advancing, more so than ever now. Consumers are able to use the internet for a variety of different means. In an early study by Asimov (1977) into the use of the internet for business, in the initial stages of its rise, it is detailed how it is expected that the internet will transform into a ‘drive-in market’ by 2025. This means that consumers will be able to pick and choose what groceries they need, over the internet, this list will then be sent to the supermarket and the items picked and either delivered or collected. Subsequently the internet has grown at an exponential rate, introducing mediums that enable this several years early to what was expected.


The impact of the internet

When the internet was created it opened a plethora of different ways to operate a business, and encouraged several changes throughout many organisations (Mougayar, 1997).


Communication

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The internet offered a new way for employees to converse with each other both internally, with employees, and externally with customers and other business associates. Several researchers have concluded that providing employees with the tools to communicate both internally and externally has both positive and negative effects on employee’s productivity. Jackson et al. (2000) note that although email was first anticipated to speed up communication within workplace, it is now one of the most common ways to communicate internally within an organisation. Quoted from a report by Radicati (2014) which further observes that the success of emailing within business states that ‘email remains the most pervasive form of communication in the business world, while other technologies such as social networking, instant messaging (IM), mobile IM, and others are also taking hold’ Further within this report it is noted that in coming years business email will account for over 139.4 billion emails that are both sent and received a day.


Telecommuting

Due to new flexible working legislation, amongst other factors, allowing employees the opportunity to both work from home and choose their hours, businesses are able to better meet employees needs while reducing their costs. This process enables employees with the opportunity to access virtual environments and work spaces using the internet to complete work from home.



For further information on telecommuting, please be directed to both the wiki on Informalisation in the workplace and teleworking.


Advertising and Marketing

For those companies that need to advertise their products or services to enable them to gain a competitive advantage, while increasing their customer base, using the internet as a tool to do so can often pose successful (Peterson et al, 1997). An organisation is able to reach a wide variation of consumers through advertising on social media mediums such as, Facebook, Instagram, Twitter, as well as creating company websites that convey messages to massive groups of consumers. The internet has had a huge impact on the way businesses are able to advertise their products and services as it has presented a platform that is cost-effective, interactive and constantly relevant (Baines, 2011). It can be said that the biggest impact in which the internet has had on advertising is through the peer-to-peer communication that it encourages, (a form of word of mouth marketing) and since the internet can reach such a vast group of people, the ‘buzz’ that word of mouth marketing via the internet can create can be instrumental driving sales throughout an organisation (Ljubicic, 2014). Ljubicic further writes that an arising trend in internet advertising is the relationship that an organisation is able to create with consumers through the use of the internet, while advertising their product/service (two-way communication is key).


Research

An important part of most business’ success is ensuring it has undertaken appropriate market research in order to progress in the business world. As well as conducting market research, having the use of the internet allows for research into product development, legislation, strategies as well as providing the means that enable businesses to better themselves through online surveys/customer feedback.


The internet and the NHS2000px-NHS.svg.png


One of the most unsuspecting places to find a high online presence is within an organisation such as the NHS. An ever increasing plethora of websites (provided by the Department of Health, the NHS and the British Medical Council) are now available to patients providing information and guidance on various health issues in a bid to decrease the number of people that visit the doctor, significantly reducing costs.
Further, Palmer and Hartley write about how the NHS has taken to distributing leaflets via online mediums since this offers an easier way to reach a greater number of people while providing a larger amount of information on more specific subjects with a decrease in price to do so.


New trends in the NHS, aided by the internet

Through research, Palmer and Hartley also recognise the new emerging trends through which the internet has aided the NHS. Telemedicine, the process of providing healthcare over long distances to rural communities that would not normally have access to the health care they may need, provides a less time consuming and inexpensive way to diagnose patients.
Furthermore, the internet has allowed the NHS to design a more effective and efficient appointment booking systems, replacing the traditional telephone based system which allows patients to choose their preferred time.


Online customer feedback


Facilitating large, speedy response rates on feedback forms, the introduction of the internet has enabled companies like the NHS to constantly improve the service it provides through encouraging people to fill out online feedback forms. Gunter et al. (2002) recognise that online surveys have enabled constant development and enhancement through the NHS, improving the experience each and every person that uses the service is given.


In summary...


The introduction of the internet has greatly impacted the everyday running of organisations across the globe. Amongst various other factors, it has enabled an easier way to communicate, offered a new medium for marketing products, an simple way to research and enhance an organisations strategy and development, as well as enabling new ways (telecommuting) that employees are able to approach the working situation.


Additions by Adam Vaccaro-Senna (253062)


1. Utilising E-Commerce & M-Commerce
As the internet is growing as a platform for business activity, there are many new opportunities being stumbled upon by businesses worldwide. The growth of the internet, and the amount of users on it regularly (2,925,249,355 people or 40% of the worlds’ population as of 2014) means that it is now regarded as an essential platform for reach these consumers effectively (Internet Live Stats, 2014). As digital markets are facilitating new ways in which businesses can reach the consumer, it is important to understand the importance of utilising E-Commerce and M-Commerce platforms.

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Key E-Commerce Data - Europe 2012

Above is an image displaying the online user and E-Commerce statistics for Europe as of 2012. 820million people live in Europe, with 529million using the internet. Of this number, 250million are regular e-shoppers, who utilise the accessibility of e-commerce and online businesses. The popularity and success of e-commerce is widespread, with Europe showing this modern trend perfectly. There are many reasons why firms operating within the controls of e-commerce have thrived and grown to become global forces (eg. Amazon, Best Buy and Tesco are recent examples).
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E-Commerce

1.1 E-Commerce for Businesses


E-Commerce became possible in 1991 when the Internet was originally opened to commercial use. Since this date, thousands of businesses have acted upon the prospect of moving their operations online, to capitalise on any growth experienced in this area. Nanehkaran (2013) defines E-Commerce as the “Interaction between communication systems, data management systems and security, which because of them exchange commercial information in relation to the sale products or services”. It is in essence, the process of selling products or services via many internet platforms, to a vast amount of potential customers.

1.1.1 Advantages of E-Commerce

There are many advantages outlined for the adoption of E-Commerce into any business strategy. One is outlined as the fact that the Internet can dramatically decrease the possible barriers for entry a firm may experience when setting up in a physical marketplace. Companies can enter into e-commerce effortlessly because they do not need to employ sales forces and huge capital investments do not need to be made, as much as in offline platforms for marketing products (Shin, 2001). Engaging in E-Commerce practices does not however always ensure that businesses will produce and sell more products. It does however offer a chance to provide consumers with more choices of product or services in an easier manner (Schafer et al, 2001).

Another benefit of e-commerce which is outlined in past research, is the improvement of customer service which it offers. It is argued that an e-commerce strategy improves customer satisfaction and affect the consumers trusting beliefs, therefore increasing brand popularity (Mcknight & Chervany, 2002). There is little chance for customer service mistakes to be made, as the online selling process is automated and the same every time somebody makes a purchase or inquiry as there is no possibility of human error, as there is with traditional retailing. It is also argued by Mcknight & Chervany (2002) that e-commerce provides many operational advantages. These include reduced errors, improved flow of information, chance for better inventory management and reduced costs. E-commerce is considered a cheap option for distribution as there is no physical labour needed as e-tail is an automated process. Past researchers have noted that “the Internet is an inexpensive, flexible, and efficient means for businesses to trade and communicate” (Nath et al, 1998).

1.1.2 Disadvantages of E-Commerce

With any business trend or strategic approach which come to fruition, there is disadvantages and drawbacks which must be considered even if the advantages seem to outweigh them somewhat. Some of the drawbacks of E-Commerce which arguably must be considered are highlighted below as:

1. The ability to compare prices online. Although this could lead to a firm’s cheaper price being more visible, it can also mean the same for competitors alike.
2. Slight risk of security issues in online markets (for consumer and marketer).
3. Consumer inability to experience and trial product before purchase.
4. Lack of personal touch, e-commerce is defined as ‘sterile’.
(Niranjanamurthy et al, 2013)

As the economy is ever changing, consumers are now searching for cheaper alternatives whenever they can. This is meaning (as outlined by Niranjanamurthy et al (2013)) that they are looking to compare prices using online shops, as this platform makes it easier to do so. This means that searching for alternative products through search engines such as Google has become easier. Instead of having to physically search for alternatives, consumers now have the ability to put in minimal effort when scouring the market for a product which suits their needs and budget perfectly. Although a benefit for the consumer, it must be considered a disadvantage for any firm looking to delve into the e-commerce environment.


1.2 M-Commerce Capabilities


M-Commerce is defined by Tiwari et al (2008) in the same way as e-commerce. Its connections are basically electronic transactions, conducted using a mobile terminal and a wireless network. As mobile technology becomes a norm in today’s society, there is much widely accepted justification for the apparent prominence of m-commerce channels being built by many organisations. Smartphones are now widely used worldwide, so Liang et al (2007) argues that compared to the slightly more traditional e-commerce, m-commerce applications have the potential to develop freedom for organisations and users which can now perform many types of transaction on a smartphone or tablet device without limitations of time and whereabouts. With this, firms online shops are becoming more accessible, and employing this type of strategy can be fruitful for many organisations. It is important for a firm to get the correct host or designer for this type of application or web page.

Another advantage which can be experienced when using M-Commerce is defined as ‘Localization’. Due to modern technologies being more advanced than ever before, it is now possible to provide consumers with location specific applications which can enable them to receive specific information about the places and businesses around them (Dhindsa & Aggarwal, 2009). This again means that m-commerce provides convenient and customizable apps and internet sites which can be adopted by the consumer.

1.2.1 Mobify & Crocs

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Mobify Logo


Mobify is a firm which specializes in the design and hosting of mobile shopping (m-commerce) websites and applications, which firms can contact and partner with in order to be provided with a perfect platform in which to distribute and sell products to the masses. “Established in 2007, Mobify is a global technology company, with headquarters in Vancouver, Canada, and a network of partners in North and South Americas, Europe, Asia and Australia” (Mobify, 2015). Their main aim is to improve a business’s online success and visibility through specifically designed sites made to measure exactly how the organisation wants it to be. One example of a success story for a firm utilising mobile growth and consumer access is Crocs.

Their successes in m-commerce using Mobify’s services are outlined in the video below:






Crocs is a market leader in innovative casual footwear for men, women and children with stores in more than 90
Crocs logo.jpg
Crocs Logo
countries worldwide. It was founded in 2002, with the first year going extremely well. They debuted their first lightweight clog style shoes at the Ft Lauderdale boat show, with the first 1,000 pairs selling out. Crocs has grown from strength to strength since its humble beginnings, and now generates $1.1billion or more in revenue per capita, with 40% of all website traffic coming from mobile devices alone (Crocs, 2015). By utilising the service which Mobify offers, Crocs have seen a growth in their e and m-commerce successes. One of the main advantages displayed by Mobify (as shown in the video above) is that it optimises desktop sites and transforms them into perfectly formatted versatile sites which can be accessed on many platforms effortlessly. This ease of use meant that pilot testing of the new sites, which was supposed to take sixth months before permanent adoption, only took a mere 3 days, as Crocs experienced overwhelming good feedback and results using the new site. Crocs are just one example firm that have utilised the advantages and benefits of m-commerce effectively. As outlined, the main advantage of M-commerce activity is the ease of use and the amount of access that consumers have, as they can access shopping streams on mobile platforms anywhere, with any data connection available. This has been implemented into Crocs’ strategy perfectly, and they are now reaping the benefits from this.


1.2.2 Disadvantages of M-Commerce Considered

As with any contemporary business practice, there are however disadvantages to M-Commerce as a catalyst for business activity. One of these is that devices which qualify as viable models which can be used for this type of commerce tend to have smaller screens than the ore conventional laptops and computers used for e-commerce. This, coupled with limited input capabilities means that bandwidth and security can be issues for many m-commerce applications (Ullah & Khan, 2012). Engaging in M-commerce potentially limits the scope for success in which a firm can experience, due to the limitations of mobile web platforms. This must be considered, even if the convenience of m-commerce is attractive to a consumer or a firm. Another limitation experienced by firms adopting m-commerce is the “lack of confidence in the security of electronic transactions”, especially when using mobile data connections as opposed to secure Wi-Fi hotspots (Ivan et al, 2013). If consumers do not feel that activities on mobile platforms are fully secure and reliable, they may not wish to participate in these practices. In the specific context of m-commerce, due to its unique features, consumers’ concerns for security and information privacy is higher than in more conventional e-commerce channels (Zhang et al, 2013).


For more information about M-Commerce as an identified new trend for businesses, please visit the Wiki page available at this web address: http://ntinm4.wikispaces.com/M-Commerce


1.3 E-Commerce & M-Commerce as a New Trend in Business


As written in the above text, E-commerce and M-commerce are two of the main ways in which business can utilise the internet effectively, and since the internet has only grown since its original inception, it is important that these practices are considered as new key trends for business activity. It is apparent that both possess major advantages which can lead to a fruitful scheme for a firm who chooses to adopt this strategy. As outlined, there are many advantages to E-Commerce. E-Commerce is a process which can enable consumers to be reached more easily by a firm, without the expense of time taken to engage in physical interaction. As consumers now search for easy shopping pathways, it is no surprise that this is considered a new trend. “The growth forecast for both business-to-consumers (B2C) and business-to business (B2B) aspects of ecommerce over the next few years is phenomenal by any standard” (Jahanshahi et al, 2011). This projected growth which is accounted for in much research conducted in this field, is why E-Commerce and especially M-Commerce have to be considered as a viable new trend for businesses. Businesses who have attached themselves onto this trend now have the internet as a platform in which to build good consumer relationships, which can potentially lead to loyal purchasing behaviour.









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