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The Internet And Business Essay

720 words - 3 pages

It is virtually impossible to run a successful business without taking advantage of the internet and information technology. With so much competition in today’s marketplace, many businesses are here today and gone tomorrow. The companies that have staying power are the ones who utilize the internet and information technology.

The internet supports today’s business world by offering effective communications. Communicating by email is not only cost effective; it is also timely allowing a business to be in constant contact with their clients while also performing other tasks. Previous forms of contacting a client included direct mailing and telephone conversations. The problem with ...view middle of the document...

Customer can visit the company’s website, enter the tracking number and find out where their shipment is and when they can expect delivery in a matter of seconds. Companies such as UPS and FedEx use this very technology as do most trucking companies. Before online access to this information, customers would have to contact the shipper by phone and read off the tracking number. The process could take several minutes especially if the customer was put on hold.

Online banking has created both a convenience and a dilemma in its industry. Customers who are used to conducting business on the web enjoy the convenience that online banking affords however, with the emergence of online banking many banks have scaled down their workforce. It has become increasingly difficult for customers who enjoy relationship banking to find this type of service. Many customers use relationship banking as a way to get faster loan approval or eliminate service fees (Reuters, 2012). However, without a way to form a bond with the local banker, these types of services are becoming less.

Finally, the internet is extremely important in the marketing aspect of a business. Starting with websites, businesses need an online presence. Many companies now...

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