E-Business and e-Marketing Essay Example | Topics and Well Written Essays - 4250 words

E-Business and e-Marketing - Essay Example The whole world has become a small place because of internet. Everyone can have all the information pertaining to any field or subject using internet. There have been significant advancements in technology over the years and it had a significant impact and changes on the people's way of leaving. It has brought about changes in the way people access different kinds of information online and the ways in which they communicate with each other. World Wide Web is also having its significant impact on the ways through which businesses are now being conducted in different organisations all over the world. The term e-business can be referred to as the utilisation of internet technology for the improvement in efficiency of business processes conducted by various organisations. It has also resulted in the establishments of different new kinds of business models. E-Business is believed to have emerged during the mid 1990s (Maruyama). It was mostly concerned about bringing enterprise systems tha t existed then to the internet audience in general through internet or World Wide Web. E-Business now can be found at the mainstream of most of the organisations. E-Business helps in the improvement of business performances through the use of information technology and thereby facilitates connection between customers and suppliers at every step in the value chain. Hence it could result in significant shift or changes in the field of technology, business and the society as a whole along with the changes in interactions between them. As regards technology, information technology has been revolutionised over the past years. It has its impact in almost all the economic sectors and in every sphere of our lives. The processing power relative to the digital technologies is expected to have a rapid increase because of decline in the cost associated with the advancements of technology in future (The Levin Institute). As a result of new technological advancements, most of the business transac tions are expected to be done over internet which would lead to the reduction in the transaction costs as well. The job structure is also expected to change and more people can use internet sitting back at home and performing their business tasks. More and more people would shift towards jobs offered online which could be done at their convenient place and flexible work timings for the employees as well. With the growing expansion of World Wide Web, different new technologies like location-based technologies and radio frequency identification (RFID) are expected to lead to the development of innovative applications resulting in the evolution of networks which can be termed as "Internet of Things" (OECD). In the longer run, small sized wireless sensor devices which are embedded in different objects, facilities and equipments are most likely to get integrated with internet with the help of wireless networks. This would enable interconnectivity anytime and anywhere. The future capaciti es and uses of technologies which bridge the virtual worlds with the physical world are supposed to result in significant societal changes as well as bring about increased economic benefits. Economic activity is becoming faster, cheaper and efficient as a result of World Wide Web.