Internet Media and Its Impact on Shaping Global Economy
Internet Media its Impact Shaping Global Economy
Internet Media is the means through which information is conveyed to people through cables that are linked together at a certain workstations. Today, Internet media is everywhere and it has become so difficult to avoid it. The use of Internet by people has revolutionized the consumer interacts and their businesses. The use of Internet has become uniquely important for the growth of global business. Internet has totally changed the way people work, shop, and the way they live. The use of Internet media became increasingly in the 21st century making many businesses to be conducted easily. Businesses arena has been transformed especially in the sector of communications, by reducing the amount of time required in transmitting the information over the long distances. Internet on the other hand, has made itself so indispensable for the commercial endeavors (Wallace, 2004).
Many businesses has discovered an internet to be the most unique of technology to mankind, without internet many businesses could have declined, it has made the life of most companies to be easy, that they cannot think their life without it even for a single minute. Today the internet has become the indispensible part of the company’s aspect of life. It has not become the only fastest means to provide information in the organization but, it seems to serve in many other ways today (Wallace, 2004). However, one of the major benefits that the people using the internet enjoy is the way they get to communicate to one another at a far end. There are different people who live in different corners of the world who can manage to share their information regarding the businesses they carry out and this can be done smoothly through the use of internet media. The internet is equipped with modern interactive tools such as, emails, short media messages, chats voice and short media messages that enable it to provide the fastest free communication. On the contrary, for the telephone connections, people manage to access the internet from all the corners of the world providing services to them at all times.
The use of internet has become of a great significant for the global business economy in various ways. The business fraternities are the people who have experienced the most positive impacts of the internet. In fact, most business development has changed permanently because of the introduction of the internet. As it is compared to the past, today the quality and quantity seems not to be the only benchmarks for the business growth and development, but it has become the visibility in the global economy. The organization should make sure that their brand reaches the global market and there is visibility of the products everywhere. Today, most businesses promote their products through campaigns to achieve the success of their businesses; however, this can be done only when communications and interactions with people are fully improved. With the modern tools, the internet enables the firms to do that (Wallace, 2004).
Gone are the days when people were promoting their products by publishing advertisements on newspapers, businesses have reached the new technology so faster in that they advertise their products through online marketing. This makes other people across the world to get to know about the products being sold as well as, the company with just a click on the mouse from any place whenever they wish to. Communication is very important between the entities as from the manufacturer down to the dealers, and the modern tools for interacting such as chats and emails allows the business organizations to create the supply chain management that keeps the entities of the business to be linked closely to each other.
So in a nutshell, the reason why the internet is important for global business or economy is very immense. In fact, without internet media, the prosperity of the business in today’s world could have resulted into a big challenge. For the fraternity of global business, internet has really become the greatest support that will continue to serve it better in the coming future.
Importance of the trend (internet) for global business/Economy.
Marketing and Advertising
Internet is the essential marketing as well as, an advertising tool that is used in most organizations for businesses. Many businesses fail to exist in bricks and mortar forms, hence the Internet that comes in form of different websites and online advertising usually represents the whole storefront presented to the public who buy the product. There are certain developing businesses that use the internet advertising in order to supplement the newspapers and the radios when targeting the younger potential customers (Wallace, 2004).
Today, the savvy business owners of small and larger ventures have recognized the significance of creating a Web presence by use of websites. Besides the websites created, the businesses have also managed in engaging themselves in various social networking phenomenons that escalated in the late 20th century. Businesses have created profiles on the platforms for example; Facebook, LinkedIn and Google plus that helps them in executing the soft marketing to improve their image with the general public and customers (Wallace, 2004).
Communication and Interaction
Today use of telephone communications has become so far from dead, it is easier and cheaper to communicate through email. Most companies have managed to use emails in communicating with the public to transmit messages in the company. Furthermore, the real-time communication for example the instant messaging (IM), the Internet telephony, virtual meetings and conferences are increasingly significant in the day-to-day workings of the business in the 21st century.
Whether the searches take place on the Web or through specialized databases such as Hoovers, the Internet searching has become very essential research tool for the businesses in nearly every companies or industry. The libraries have also been transformed by Internet explosion, with much of their collections being converted to the electronic records that are made to be available to customers by use of the Internet. In addition to accessing the library records online, businesses have also managed to access breaking news and stock exchange information in real time through the Internet. Businesses also perform research online.
Several companies do employ workers, contractors as well as, consultants as the telecommuters. Telecommuters can be either located locally or very far away from the company’s base of operations. Companies having an international presence normally use the Internet in facilitating communications among their offices in varied locations.
In addition, the use of Internet has made it easier, faster and less expensive to process payments and other transactions essential to businesses.
Background: Information supporting the trend with existing data.
There has been an increasing in the number of gambling services since the emergence of the internet in the 1990s. Most services have been made to be online and new remote communication technologies. The development of new technologies, the commercial initiatives, along with market penetration of businesses have made the gambling services sectors to be extremely dynamic as well as, potentially transformative in future.
It is most likely that before the consensus is reached between the Member States of the European Court (EU) about how best they can deal with commercial gambling opportunities, they have to firstly market globally in order to transform the ongoing expansion of remote gambling through technologies of internet, and the mobile phones.
The use of internet along with other media has made it possible for people to gamble in their home areas, in offices, and other venues of their choice at any time on virtually, for example, any forms of gambling available in land-based venues, and on some new forms, such as betting exchanges, tournaments, spread betting and poker, which are not so readily available in conventional venues.
A chart showing the trend growth of the internet since 1990s
Analysis of the Pros and Cons of the trend with supporting data, including the impacts and influences by the State and TNCs, and other aspects of globalization.
Internet is the greatest inventions of the century. Today people can do research by going to Google to do researches instead of going into libraries. Internet can be used to do different things, such as, shopping from the eBay, chatting with friends from Skype and Facebook and many more. Internet is very important although it has some pros and cons to its users.
Pros of the internet
Easy and cheap communication
Internet enables faster communication with other people from the far end; this can be done through e-mails as well as social communication such as MySpace, Twitter and Facebook. The services are free of charge when being used as compared to other communication media such as newspaper advertisements. The main target of the Internet is the speedy communication which excelled beyond the expectations. As time changes, the newer innovations will make the internet to be faster and reliable. Today, most people communicate in a fraction of second with other people across the…