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The Internet's Influence on Business Methods

Please discuss the following:
Has the internet completely changed the way business must be done. Explain.

Solution Preview

The following are some reasons as to how business has changed and how this result is expressed:

1. Use of the internet allowed for an explosion of expansion into global business. Although employees had to be trained and/or hired in global locations, the real benefit was the speed of business transactions and the controls and feedback that became available through centralized systems throughout global organizations.

2. The upgrades in the banking sector are amazing. We can 'bank online'; we can deposit or withdraw anywhere; funds are cleared in a fraction of the time before internet use; payroll is all electronic with auto deposits for employee pay, payroll taxes, and retirement funding.

3. The interface of banks across country lines including ownership dispersion, transaction links and operational similarities is ...

Solution Summary

This solution is comprised of 532 words and outlines 16 reasons which illustrate how business has changed since the advent of the internet and thus, how this result is expressed in the business world.

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