The Internet: A Sea Change in How Business is Conducted
The Internet has fundamentally changed the way that business iscarried out. But do the changes brought about by the Internet constitute asea change' When considering this question, it's important to define theconcepts that we are discussing. A sea change is a complete shift, afundamental change that brings with it entirely new circumstances. It ismore than a series of advances that move business forward, it a change inthe business itself. In this regard, the Internet is more than just afacilitating tool, it represents a sea change in the way business is One major way in which the Internet has brought about a sea change inthe way a business conducts its affairs has to do with the relationshipbetween customer and business. The Internet is as much a tool for today'sconsumer as it is for today's business, and this fact has to be consideredby any business that hopes to remain competitive in today's commercial Internet and the World Wide Web have engendered a more informedcustomer than at any other time in history. A few minutes of surfing andthe customer can gather a host of information on products, pricing,delivery and company history. Similarly, they can
A companythat can establish itself in cyberspace has a chance at participating in amarket formally controlled by large corporations. A business thathas a significant presence in the "real" world cannot afford to overlookthe importance of establishing a cyber-entity. As every computer user knows by now, the Internet is in trouble. This force of democratization relies upon some of the other functionsenabled by an Internet environment. Digital content is also a possibility for the entertainment industry. What makes the Internet more thanjust a tool of advancement, what makes it an instrument of fundamentalchange is the new business model it has created. It is no longer necessary for abusiness to maintain a large, far-flung workforce when, in many cases, workcan now be outsourced and strategic alliances can be used to advance yourcore business. Because of the Internet, a viral attackcan cost companies millions in lost business and delays. In this area as well, theInternet has gone beyond simply advancing business, to completely changingthe foundations upon which it rests. Other companies, such as Kazaa, (while officiallydiscouraging copyright infringement) provide the means for users to sharedigitized entertainment. Virtually all entertainment products can be digitized; books (as mentionedabove), music and movies are all examples of traditional products that canhave a new incarnation in a digital world. Much of the outsourcing, and business consultation that isnow at the disposal of small and large businesses alike is as a result ofthe Internet and advancing technology. This is responsible for theburgeoning legal field of intellectual property rights. One of thefastest growing areas of Internet business involves long-distancetelephone. Furthermore, themove towards democratization that empowers the individual consumer alsoempowers the individual hacker.
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