Question

what is the nature and importance of the Internet as both a channel of communications and a channel for transactions?

Answer 1

nature of importance of the internet as channel of communication:

1. as information is a key factor in value chain of a supply chain, at present internet is the game changer in evolution of information sharing with different players in the value chain as well as supply chain through ERP(enterprise resource planning etc..)
2. social awareness about different aspects like deseases, calamities, personal achivements etc through social media (internet) to reach the public faster is possible by internet.
3. information availability to everyone in the planet from anywhere to anywhere, it is only possible through internet, which is driving the lives of so many entities (persons and enterprises as well)
4. internet is making the whole world as a single entity to look as which can't be achieved through any other medium.

nature of importance of the internet as channel of transactions:

1. transactions in internet can be the cash transactions or any information transaction. information trasaction has those advantages as mentioned above.
2. cash transactions, even though have some risk through cyber crimes, has lot of advantages in easing the lives by making the transactions smoother and faster.
3. cash transactions also made possible, the world wide trading of goods throughout the world seamlessly.
4. cash transactions throughout the world without the barrier of currency differentiation making people to purchase the products from all over the world which is improving the overall economy and cash flows.