How Internet changed business

In today’s world of increased globalization of markets and economic regionalization, a business cannot be successful without the use of modern information technology. Development of the Internet, networking of the company and public administration, has led to major changes in the way and efficiency of the business systems. Simple and fast communication, almost instantaneous transmission of large amounts of data over long distances, easy publishing and updating of multimedia documents and their continuous global availability, digital delivery of goods and services, direct payment via the Internet, creation of virtual organizations, etc. – all this represents elements of a new form of business, so-called electronic business.

E-commerce is a general concept that encompasses all forms of business transactions or the exchange of information carried out using information and communication technology, such as:
• between enterprises,
• between enterprises and their customers, or
• between enterprise and public administration.

Why do you need it

E-commerce also includes electronic trading of goods and services. It can be viewed from several points of view. From the point of view of communication electronic business is the electronic delivery of information, products and services and electronic payment using a computer and other communication networks. From a business point of view, it is the application of technology for the purpose of automating business transactions and operations. From a service point of view, it is a tool that allows you to reduce operating costs while simultaneously increasing the quality and speed of service delivery.

E-commerce has its roots in the 1970s, the emergence of electronic cash transfer (EFT, Electronic Fund Transfer) that runs between banks through secure private networks. In the eighties, two new forms of electronic business were developed: electronic data interchange (EDI), and e-mail.

During the nineties, the emergence of the World Wide Web within the Internet, for the first time, it was easy to operate online and easy and inexpensive publication and dissemination of information. Various forms of business are enabled, and only business has become cheaper, and small businesses have also been enabled to use e-business. A democratization of operations has brought the global market closer to small and medium-sized enterprises.

The use of computers and networks is no longer a privilege of large and rich companies, but even the smallest companies can be involved in the global market. The risk of untimely inclusion in modern business is lagging and losing you valuable position on the market.