Impact of Technology in Business – E-Commerce
Since the introduction of the Internet in the 1950’s, development of technology began for use by the military until it was soon introduced to the public for commercial and private use. Throughout the decades ever since, technology was then on the road to sudden rapid expansion, with a big boom in new hardware, software and internet capabilities such as faster computer speeds, faster internet connections and efficient software. Convenient services appeared such as E-Commerce (or Electronic Commerce) where internet users become internet customers by purchasing products and/or services online to have them delivered to their front door without having to move, but rather only press a few buttons.
E-COMMERCE With the rapidly advancing technologies that are occurring in modern business, organizations are required to be ready, and able to adapt within their ever-changing environment. It is true across all diverse industries that in order to stay competitive, organizations must be able to utilize the various tools that technology has to offer. Technological factors have been of growing importance, particularly in recent years. A major factor involved in these technology issues is the use of the Internet as a major issue to modern organizations. The Internet has been rapidly growing since its inception and is now commonly used in all sectors of societies, in all corners of the globe. The Internet has quickly become one of the most valuable assets in modern technology, and as such, is developing as an integral part of modern commerce. As with past technologies, the internet will have future technological advances develop from its own growth. The Internet has led to the birth and evolution of electronic commerce or E-commerce. E-commerce has now become a key component of many organizations in the daily running of their business. Simply defined, electronic commerce is a system of online shopping and information retrieval accessed through networks of personal computers. E-commerce challenges traditional organizational practices, and opens ups a vast array of issues that the organisations must address. By focusing on the varying levels of an organisation, it soon became apparent the effects that E-commerce can have.
An understanding of the implication
E-commerce has on such organizational divisions can help businesses gain understanding and plan for it's inevitable continuing evolution. As the Internet, and in turn E-commerce has developed, and continues to evolve and grow, it is vital that any organization, in any particular industry, must base its strategic planning around such a rapidly growing medium. The growth of the Internet is an environmental influence that must be embraced and
understood so to successfully plan for future marketing implementation.
The next crucial element is to gain an understanding of E-commerce itself, as well as the current and possible future developments. In understanding E-commerce's impact on strategic foundations, an organisation’s strategy can be more clearly focused. Once the organization and E-commerce's respective environments are clear it is then possible to understand E-commerce's implications in regards to fundamental purchasing strategies. By focusing on tools such as the competitive strategy framework we can gain a better understanding of strategy formulation.
By reviewing traditional purchasing theories and practices, it's possible to see where, if at all E-commerce fit into current frameworks. This will provide relevant conclusions that can be made based on the strategic implications of E-commerce, and it's attributes in the purchasing process. In doing so, this adds a vital dimension to the purchaser in an ever-growing technology based society, of which must be clearly understood. In order to gain an understanding of E-commerce's impact to the modern organization it is imperative that the environmental...
References: Criddle, Elizabeth, and Jason Hinton. "CHAPTER 15: TECHNOLOGICAL. Business Management and Enterprise. Cottesloe, Australia: Impact Publishing, 2011. pg. 222-228. Print.
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