A Critique On "Doing Business In The Wired World"

1085 words - 4 pages

A critique on "Doing Business in the Wired World"The article "Doing Business in the Wired World" depicts how a company can achieve business transactions and success through using the information-rich Internet. The article is well plotted by using examples of different companies to show the potential use of electronic commerce via the Internet. The article is empirical as the findings are based on experiences at large companies such as Cisco Systems, Amazon, Onsale, and BidnAsk, ect. The main findings are:1. Companies can obtain a lot of benefits doing business through electronic commerce. First, information is available and easily accessible. One typical example is Morgan Stanley's use of intranet. As it is stated, "nearly all of the company's 10,000 employees access its server on a weekly or daily basis". Information is disseminated and distributed at a largest possible scale in the company. It is surely much easier for employees to deal with daily work, to cooperate with other colleagues, and to prepare their reports. It is even important for decision-makers to take action at a faster speed with better-prepared analyses and reports.2. Companies can save a lot of expenses using E-commerce. As companies now can receive orders through network, suppliers can send their orders directly and accurately in a shorter time. This is quite beneficial to companies since in the past time, companies used to adopt fax machines to receive and send message, which was quite slow and was even troublesome for businesses under some circumstances. That can be cost consuming and also a waste of paper. With networks easily available, companies can view information at any time. As the article states, "in the first 18 months of Web usage, …over $1 million in annual savings". Any business who finds such a cost-effective method will accelerate the pace towards Web use.3. The communications between companies and their customers can be substantially increased and enhanced by sharing information and other transaction procedures. On-line order system and software can leverage the Internet to redefine marketing channels to provide rich information, receive orders, and gather detailed customer profiles. An good example is at Cisco Connection Online where 13% of the company's product orders were received in January 1997 and 15 to 20 percent of all orders is placed online according to the company's estimate.4. Companies can leverage their resources by accessing the Internet for information, expertise and other data worldwide without barriers. This is especially beneficially good for small businesses as their budgets on public advertising and outsourcing are relatively limited. With easy access into the Internet and some investment in online hardware and software, businesses can not only search necessary data and information online but also put their product specifications as well as terms and conditions of trading on the Internet. By doing...

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