Discuss how the Internet impact the competitive advantage of a businessThe advancement of modern technology and specifically the Internet has several effects on the competitive advantage of the business. To start with promotion, it is easier for companies to outdo their rivals by embracing the internet as a component in the advancement of their products. It offers an easier route to relay information of the company to customers. A business that applies the Internet has a broad market than the one that does not.
Communication and transaction to customers is fast, and also within the company.The internet level all customers’ service and their load, companies that do not embrace the Internet for service delivery continue to turn away customers due to busy lines. The task of waiting for quite too long is not there as one can send an e-mail and get the feedback almost immediately. The method is not the same as when using a mobile phone where one has to wait for some time at the same time paying for the call. Moreover, companies can recruit new and competent employees with the aid of the web.
Customer to company interaction is imperative to not only build trust, but also make adjustments in goods and services. The internet, through social media, offers a platform where the companies can interact with customers in a more effective way than other platforms. Lastly, online commerce enables products, services, and transactions to consumers to be carried out at the shortest time possible by use of efficient and reliable shipping methods.
Essay on internet: Information systems in developing synergies, core competencies, and net-based strategies for dealing with competitive forcesSynergy denotes a method where the output of other units can be modified to be input to other units, or corporation pooling resources together. The effect of this is that the cost of production is less and also, there is an increase in profit.
On the other hand, a core competency denotes an activity that makes a company appear as a world-class leader. The position comes as a result of reliance on information garnered over an extended period; furthermore, information systems are also put in place to encourage sharing of information, therefore, encouraging competency in business. Net- based strategy can be useful for companies to develop a web of customers and trading partners. In addition to that, the platform eliminates middlemen or other participants, thus reducing cost but at the same time increasing returns.
Discuss some of the internet services available to businesses and how they can provide benefitsOne of the internet services is online marketing, the Internet provides a vast market that cannot be attained by other forms. The online community is itself growing, and that platform is essential in improving value to goods and services producers need to market.
Also, professional services are readily available from the internet and business people can use the information to improve their performance in business. Moreover, the internet offer business opportunities, for those unable to start a business for lack of enough capital, the internet can save one from coming up with a store for goods, and in effect, save rent. And lastly, the online booking is available nowadays thanks to the internet. Tourists can book restaurants and other guest house while miles away.
The internet therefore adds value to the sector. Moreover, the internet is enabling business people adjust to price dynamics by constantly giving changes in inventories or change in demand. Such information is essential as it adds value to the knowledge that a business people needs to cope with not only market trend, but pricing of goods and services as well.