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The internet has major implications on society, business and the economy at the global level. The developments in internet are tremendous since it invention and has advanced drastically in the past decade. Internet offers both opportunity and challenge for business.
The beginning of the new millennium was a period in which predictions were made on the fact that the future would see companies turn to be internet companies. The internet has the capacity to influence everything and change the way we work and mostly the means of carrying out business. Due to its uniqueness, the internet has had a great influence on human in such a short period. The greatest digital transformation has no doubt come into reality in this millennium. The prediction of top managers in the globe that every company would turn into an internet company has come true in the modern world. Internet is not only a business tool but also a fundamental additional to personal life. The use of Email programs has made communication easier and interesting. Furthermore, the ease and speed at high information can be retrieve from the internet is amazing. The internet is a successive transformation, which enables people to surf WebPages across the globe on the internet by simple of use of browsers. Search engines make it even more efficient to such information on the internet (Beynon-Davies, 2004). The concept of a global village has been embrace despite earlier alarming concerns on security especially in use of credit cards.
Buying and selling of commodities online has increased sales in a tremendous way and reduced operation costs for companies at the long run. Buying of things such as books, magazines and CDs on the internet has become a common practice. Ecommerce is on the forefront in changing the way companies operate. Music distributors no longer have to be physically present in geographical areas to make sales to their clients. The presence of these music distributors on the internet by setting up their own websites makes buying of music records as simple than could be imagined there before. A mouse click is enough and the cost is deducted from the client’s credit card or bank account. Such quick and efficient transactions have lead managers to rack their brains in order to come up with successful strategies in the internet market place. To make sustainable economic gains, some companies are making use of direct connections with their customers but for their first time ever. The sale of perishable goods made online by auction. The internet superhighway of a large bandwidth is all that facilitates the sharing of information in the business arena.
The Internet play a major role in helping companies to lower costs dramatically across their supply and demand chains, take their customer service into a different category, enter new markets, create new revenue streams and redefine their business relationships. However, even within particular industries companies are moving at different speeds (Beynon-Davies, 2004). Much depends on the competition they are exposed to, both from fast-moving traditional rivals and from Internet-based newcomers. However, nobody can afford to be complacent. Successful new e-businesses can emerge from nowhere. Recent experience suggests it takes little more than two years for such a start-up to formulate an innovative business idea, establish a web presence and begin to dominate its chosen sector. By then it may be too late for slow-moving traditional businesses to respond. Many of the managers running the top companies in the world today consider e business as crucial for their success and more revenue generation. Yet most of them know that the Internet is in an entirely different category from the technology-driven changes they have either he embraced or had thrust on them in t past. The same survey suggested that the Internet has significantly changed expectations about what IT could deliver, with more than half of the top managers saying they ha high expectations for the future.
The information in the internet either confidential or corporate should be used in accordance with the regulations set. There is no restriction of their rights to use or sell that information. Using increasingly sophisticated technology, marketers and criminals are easily able to access private and personal information from anyone they choose. This kind of spyware secretly forwards information about a computer user's online activities to some another individual or company without the user's knowledge or permission (Paul, 2000). Left undetected, it may lead to increased identity and personal information theft, computer corruption and exposure to annoying pop-up ads.
To secure information and information systems, the uses are aware and make of firewall and antivirus programs in the daily transactions. There is a new privacy manager product out called “The Privacy Analyzer” that provides a free evaluation of the threats posed by each site you visit. The evaluation program counts and displays all privacy threats like pop-ups, cookies and scripts in an easy to read, real-time list. "We believe that once people are able to preview the threats, they will upgrade to Privacy Manager to prevent and eliminate them. Privacy Manager is an innovative service that protects consumers and businesses against all forms of Web threats and annoyances, including ads, pop-ups, advertiser tracking and personal profiling, and aggressive hacker attacks intended to damage or control people's computers. This could be fatal and result to collapse of a system and hence disastrous consequences. This service includes features such as hiding a user's personal computer Internet address, blocking of ads and pop-ups, and military-grade file shredding to erase all traces of Web surfing, including cookies, tracking bugs, scripts, temporary files and more all of which are commonly-used marketing and criminal abuses (Paul, 2000).
Privacy Manager is designed to take care of you and your computer in the ever-escalating battle between you and spammers, online marketers and those dangerous identity thieves. It also eliminates the hassle of buying individual programs that might conflict with one another. All you need to do is sign up for this all-inclusive service and let it do all the work. If you let Privacy Manager to do all the work for you, there is a Global Privacy Level option that automatically assigns a medium level of privacy to all sites visited. Anonymizer offers free downloads for particular sites with a recommended level of privacy that has been predetermined by Anonymizer according to the threat level of those sites; however, users are always able to change the privacy level themselves if they choose. Personal information is increasingly becoming a commercial product in the technologically advancing world. Government agencies are offering services the electronic way via the internet hence the high concern for security and privacy of personal information on public databases (Westfall, 2010).
The private sectors are tailoring partnership to build strategies in the massive internet market palace. The collaborative efforts have seen a tremendous competitive field in the world business platform. Supply chain management is a cross-function approach including managing the movement of raw materials into an organization, certain aspects of the internal processing of materials into finished goods, and the movement of finished goods out of the organization and toward the end-consumer. As organizations strive to focus on core competencies and becoming more flexible, they reduce their ownership of raw materials sources and distribution channels. These functions are increasingly being outsourced to other entities that can perform the activities better or more cost effectively. The effect is to increase the number of organizations involved in satisfying customer demand, while reducing management control of daily logistics operations. Less control and moore supply chain partners led to the creation of supply chain management concepts (Westfall, 2010). The purpose of supply chain management is to improve trust and collaboration among supply chain partners, thus improving inventory visibility and the velocity of inventory movement.
The movement of supply chain management development, the globalization era, can be characterized by the attention given to global systems of supplier relationships and the expansion of supply chains over national boundaries and into other continents. Although the use of global sources in the supply chain of organizations can be traced back several decades it was not until the late 1980s that a considerable number of organizations started to integrate global sources into their core business. This era is characterized by the globalization of supply chain management in organizations with the goal of increasing their competitive advantage, value-adding, and reducing costs through global sourcing. This improved operations and made relations more cost effective than there before. the software industry is currently at an inflexion point, where the reward of "long-tail economics" is garnering significant attention from technology entrepreneurs and innovators alike. Many are wondering if the same business model that Amazon.com, Netflix, and iTunes used to build their success can be applied similarly to make money in the markets of long-tail software consumers and niche applications.
Although it has always been common knowledge that there is significant untapped software revenue in the small-medium businesses (SMB) market, this long-tail market has been largely ignored by major software players up until the recent advent of the software-as-a-service computing model. Aside from SMBs, there are also increasing opportunities for software developers to make money through niche applications. Now, Face book is perhaps the best evidence of a successful long-tail application marketplace. Face book applications not only help drive massive Internet traffic to third party Web sites, but also help generate ad revenues that are paid out to the developers of the long-tail applications (Fickes, 2010).
However, social-network applications are just one type of a monetizable long-tail application. Thousands of other custom applications have been created for specific user and business scenarios. More frequently than not, these applications are developed by using simple development tools such as Microsoft Office Access. Some of these are homegrown line-of-business (LOB) applications that serve the needs of individual departments within business organizations; others might be tracking or productivity tools that are developed by hobbyists for private uses (Kotler et al, 2008).
Many of these applications are not available or reused publicly, never mind reselling to third parties. With an appropriate online market channel in place, these niche applications could becoAd-funding is not the only model to monetize long-tail applications. Traditional licensing, subscription, and transaction models all are still valid means for the ISV to be paid. The key point here is that the supply curve of long-tail software is likely to grow when there are effective mechanisms for the developers to be compensated for their work.
Most long-tail applications will never command the kind of price tags that are displayed on top-selling software. However, with production tools and distribution democratized, it might take only a very short time and almost no capital investment to build long-tail software. In fact, when the long-tail software economy takes off, we likely will see many more micro-ISVs creating applications as fast as they can (in a matter of days or weeks) and living off the aggregate income from multiple long-tail applications. The overall change in business practice and running of government affairs is a true realization of the internet age that has seen better profits and revenues for giant player in the enterprenual field.
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