Question

Discuss the impact of internet law and ethics on business operations and interactions.

Answer 1

Business technology has changed the way companies do business on the global marketplace. It also affects how the stakeholders interact through different forms of technology. The Internet is the first and most powerful technical instrument that is transforming communication. It is a network of interconnected computers worldwide that enables individuals to exchange information between users and organisations.

The Internet has enabled businesses to build communities for those who share similar interests in products and companies. Such communities are helping companies grow their brand and establish a positive picture. Businesses are able to easily customize products or services which increases customer satisfaction and profits. The Internet has made it possible for companies to obtain valuable information on the interests of certain demographics. As a result , marketers may also use targeted ads efficiently by appealing to particular outlets and media directly relevant to their product or service.

The web-based wealth of information helps companies to learn about patterns that can impact them, analyze customer behavior, discover products that could improve their service or company and increase market awareness. It is now easier to find information which used to be reserved for the most prominent people in the industry or academics. The information also helps consumers find goods and services that fit them. The amount of feedback and business details on the internet makes customers feel more comfortable with making a purchase and feel more in control.

The Internet fills the divide between the companies and customers. The invention of the Internet has made corporate presence global. Consumers have access to overseas products or across state lines. Communication is more open and transparent between the consumers and businesses. Consumers can now use email , chat or forums to connect with other customers, ask relevant questions about the service or product, get customer support and offer suggestions. Customer-to-business communication increases customer satisfaction and allows businesses to connect with customers.

Entry into the business world was severely constrained in the past. Start-up costs and advertising costs are considerably lower with the Internet. Small businesses can start a low-cost website, gain visibility and advertising by connecting to blogs , social networking, and affiliate programs and even find venture capital / investors. With the use of online job boards and career-based social networking, the Internet also allows people to find talent with ease. The Internet allows companies to achieve control in a niche by researching on demand goods and services. This increases entrance into small niches and reduces the likelihood of failure.