Innovations, whether In the form of technology, organizations or products, result In he application of research, technology, and the economic potential of business assimilated with the needs of the consumers (Kerchev, 20111. These promote the development and improvement of consumers' lifestyle. An example of an important innovation is the internet, which was introduced in 1982. It had the concept of an interconnected system of networks to share information.
Historically, communication was limited and information was once a valuable and expensive resource, specifically in remote regions of the world.Over the last two decades, the Internet was developed dramatically, leading to an Increased significance of Its use. It enabled us a new form of communicating, obtaining information, and predominantly how we live our lives. The internet has made remarkable changes on the economy in both positive and negative sides.
Primarily, It serves as a catalyst for global growth. It created opportunities for businesses In marketing, advertlslng and operating costs. It enabled consumers to shop online and pay bills at the comfort of their home.In the economic downturn of the united States, it served as a haven for larger companies such as Google, Cisco and Adobe to achieve relative stability and enhance the trade value through their global sales (Quelch, 2009). Moreover, the internet provides employment throughout the world. Majority of the people rely on the internet for employment as it accounts a number of opportunities throughout the globe and a variety of Jobs suitable for the public.
Porat (as cited In Katz, 2009) estimated that the active population had Internet related occupations. Adversely, the Internet has Its negative side that affects all countries.Denvall (2011) states that the introduction of new ideas also results in building new difficulties. One such problem Is the easy access of information to other people, communities, and organizations which has esulted in the creation of cyber crimes such as online theft, fraud, and cyber terrorism. In addition, It greatly affects the entertainment business of developed countries as piracy Is expanding rapidly and can be done effortlessly. Finally, small companies gradually struggle in competition with the bigger firms as the latter resort to the internet for wider marketing.
Evangelista (2010) cited that innovation is the driver of firms for performance in the macro sectors. Socially, the Internet has revolutionized the way we communicate and express our Ideas. POI and Ville (2009) stated that an Innovation such as the Internet may have ther. It paved a way for people to communicate instantaneously and overcome great distances. Additionally, it reinforced freedom of speech and expression through the use of blogs and commentaries. It allows us to vent our thoughts and feelings as it breaks the barriers of age and social class.
Through the internet, vast resources, notable opinions and ideas of distinguished people are easily accessible. Examples of these would be TED conferences and educational YouTube clips. In contrast, the internet allowed users the access to illicit materials such as pornography or censored roducts as it is not completely regulated by the government and opposes with privacy concerns. Bargh and McKenna (2004) described the internet as a "tool for the devil, awash in pornography, causing users to be addicted to hours each day' (p. l).
Furthermore, there is an increasing number of addictions with internet use. Quelch (2009) quantified that the people in the United States spend on average 68 hours per month using the internet in regards of work and leisure. In effect, the major use of social media is unproductive for the individual and to society. Spending hours in ront of the computer or tablets has given rise to sedentary lifestyle and therefore increased incidence of obesity and its related illnesses. Likewise, individuals, most specially teenagers have been victimized by cyber bullying.This has been blamed in reported suicide incidents in vulnerable persons.
Henceforth, it aggravates the deterioration of social interaction of todays generation. This has become a contributing factor in the current increasing rate of depression. In conclusion, the internet has made a significant change to our society both economically and socially. Today, the Internet is continually expanding by supplying a vast amount of online information, marketing, entertainment, and social networking.
