The fact is that it’s impossible to conduct business without the internet.
In business from idea to management, production to marketing, selling, and purchasing, and accounts management to tax filing it seems the internet is impacting the traditional methods, ongoing operations, and innovations in business.
The Internet is in every tool that businesses are using and will use in the future. You can also say that every innovation and new technology is just a part of the internet.
Without the internet, nothing will work and that’s why the internet is the main source of current and future for all kinds of innovations, technologies, and business models.
The Internet connects businesses and consumers to the platforms of communications, trade, education, and entertainment. Now entrepreneurs, leaders, and companies investing in digital marketing, business automation, remote hiring, e-commerce, and online collaboration tools and trying to increase the speed of creativity and excellence in daily operations with the help of internet technologies.
Now the consumer is expecting revolutionized products and services. Customers’ priorities, expectations, desires, and styles are changing. It’s because customers are now connected with educational platforms and content.
And the availability and higher speed of information, knowledge, and opinions, it’s changing the decisions and priorities of customers, consumers, companies, and robots (Artificial Intelligence applications and technologies). And that’s why the impact of the internet on business is negative and positive.
In political language, if the impact positive of the internet in the USA on businesses then within a few seconds it starts impacting the businesses in India. That’s what the internet has done and will do in the future. And in common people’s language if you are infected by cold in Japan then within a few seconds it starts impacting the people in California.
It’s because we all are now connected to the internet from business to consumers, teachers to students, readers to writers and we can communicate instantly from anywhere on any device and anytime.
It was not possible a few decades ago. Obviously, it’s impacting businesses, employment, the environment, entrepreneurship, societies, education, and politics.
Related: Online courses to start your own digital marketing business
So now let’s start understanding and analyzing what is the impact of the internet on business and how it works positively and negatively in detail:
1. Marketing opportunities:
The majority of businesses use the internet for marketing and selling. Businesses can use a search engine, social media, email, websites, and blogs to promote products and services on the internet. It is known as digital marketing.
Digital Marketing tools help all kinds of businesses to communicate their marketing message and brand values with the people using social and search channels at low cost. In this the impact of the internet on business is positive.
And businesses are able to grow sales and attract more customers with engaging campaigns, digital content, and tools and by using online marketing methods for their online and offline stores. The negative impact is on small-scale businesses.
Small-scale businesses are unable to compete with big brands and their digital marketing methods.
They are doing it but not like big brands. When any business aggressively spends money on online marketing then it creates a monopoly on the internet and other businesses are unable to compete with them. But it’s not impossible to compete but yes, it required bigger strategies.
Learn More: Importance of digital marketing for the success of a business
2. Online business opportunities
The Internet created opportunities to start and operate a business online. It has impacted the traditional markets. For example, today people are learning online almost every subject. They can do technical and non-technical courses and degrees online.
It’s impacting negatively on local educational institutes and coaching centers that are started by small-mid entrepreneurs. It’s impacting “people can’t change themselves, business methods like a selfie”. And e-commerce or online shopping is making a big difference that is affecting traditional shopkeepers.
But on the positive side of the internet business, there are big opportunities for everyone on the internet to start a business.
Anyone can start an online business from home. eCommerce, affiliate marketing, publishing, content creation, designing, web/app development, blogging, and digital marketing, etc. businesses have big opportunities on the internet.
There are thousands of people and companies doing business online and making a big profit in a shorter time. This is an impact.
The impact is increasing the employment and entrepreneurship development programs. And it’s becoming very effective for consumers too and they are getting the services/products on the door.
But the impact is also increasing the competition on the internet for business. Every offline business wants to have an online presence for the business on the internet.
For that, they are listing businesses on google my business to let customer knows the location and availability of services. After that, every business is creating social media pages to keep people connected and updated about the services/products.
They are creating a website to appear on the Google search results for users’ product and service requests. Many are using search engine marketing, email marketing, content marketing, etc. digital marketing methods to get more customers to their offline and online stores. And it’s really increasing the growth and sales.
The reasons that there are billions of people use the internet daily for various things and it’s really convincing for them.
But it’s finishing the offline communication and connectivity with the people. You can order the food from the app but you never know who is the cook and how he/she has cooked.
You can order shoes and clothes, and you don’t know how good they will be until you have touched them. But the fact is that people are finding problems in the offline market and then creating and selling the solutions worldwide through the internet.
Even 80% of the business that is called innovative is a copied version from offline activities and businesses any sharp-minded student with the help of money or support can do that.
But at this time copying offline traditions/methods/business and then creating an online business, app, website, blog or anything is a go-to method to start an online business. There is nothing new on the internet other the copied inventions.
In online reality, the growth is lower than at the start. It’s easy to start an online business or easy to start marketing online but tough to grow and build the brand. it required money, skills, a team, and proper profitable business models.
But due to competitiveness, impacts the people who are running the business. People doing online businesses are more stressed, insecure, and information-overloaded, and have less time for family, environment, and social activities. Business relations on the internet are robotic and no one knows who is behind the message. And sometimes it’s faked.
Without a doubt, the internet created many opportunities for online business but it’s also increased insecurity, instability, stress, and too much work. And people don’t have the time it’s because they have to work and work all the time to feel secure.
The impact depends on the mindset of the business operator. If he/she is taking the internet as a tool then they can keep using it for profits.
Learn more: How technology has changed the business
3. Business Automation
Business automation is the process in which daily business tasks, operations, and management are programmed in apps, websites, software, and hardware to run the business automatically. Business automation work like an alarm clock. You set the time 4 am to wake up and it will ring at 4 am.
For example, when you shop online on any e-commerce website and pay the price then it’s a part of business automation. In which business sellers and buyers get the notification mail, and the payment is automatic while they are on holiday.
Automation of the business process is important in more complicated and challenging work. The goals are to decrease human interaction with high-risk work and replace it with a robotic interface. Such as firefighting services from robots, border security through robots, etc.
Delivering food, and water during flood times by using drones and robots, etc. or the technology in disaster management works will be common in the future. But now it’s in its early stages and has not matured yet.
Artificial intelligence apps and programs are the keys to business process automation. Google Assistant App in android, google voice search, Cortana in windows, and chatbots are earlier examples in which various tasks are automatic and it’s all possible through the internet.
When most things are automated in business, factories then it will reduce the cost of managing large teams of the workforce and will increase the productivity in business. It’s a positive impact of the internet on business. But negatively impact employment.
Related: Strategic importance of cloud computing in business organizations.
4. Business development opportunities
The internet is impacted business development activities positively. The use of the internet in business enables companies, entrepreneurs, and small-scale business owners to find growth and marketing opportunities in new locations and countries.
The use of keyword research tools, data analytics, and availability of the information is helping the business developer or business owners to build partnerships locally and internationally.
For example, there are various Technology Training Institutes in India providing information technology education. If someone in the USA or a technology university, college, and institution want to invest in India in Technology Education then it’s easy for them to search, research, and analyze the best institutes by using the internet.
They can communicate through video chat, and emails and they can search and research each other’s credibility and credentials. And such business development practices impact the growth of any business.
Another example is an Anyone Telecom company in India selling 3 internet data packs such as 1 GB per day for 100 rupees, 3GB per day for 200, and 5 GB per day for 320 rupees. And they promote and market these data packs all over India. Now through data analytics, they will be able to get customer data.
Such as they know in which location they are getting more customers and where are fewer. For example, if they got fewer customers in Rajasthan now what they will do? They will analyze in-house data and app data. They will call the state manager and ask for the reports. They will market the company and data packs in Rajasthan. And sooner or later it will impact the business.
The simple logic here is the availability of data and analytics tools helps companies and businesses find/build strategic opportunities for business development.
That’s why the internet is really important and you can say the main element for any business is to build commercial relationships with customers or partners. And it helps to identify the market gaps, opportunities, competitors, potential partners, and ease of communication within a click.
5. Competitive advantages
The impact of the internet on market competition is high. Businesses using digital marketing, cloud computing, online automation tools, online accounting, eCommerce, and artificial intelligence applications and getting more benefits than competitors.
It’s because they are innovating and it’s impacting day-to-day business activities. Because digital tools are so much power to faster the research, production, distribution, and management process. And this way many businesses are able to dominate the market with their online marketing and management strategies.
While it’s positive for business but it creates a monopoly in the market that’s not good for national economic goals. But it’s happening for 2-3 decades and that’s why many countries are still developing. The leaders and experts in such nations and businesses lack deep technological minds or skills so that they can create and innovate the policies for the people for overall economic growth, not for a few people or corporates.
Economic growth in any country is possible if the policies and principles are covering or open business/innovation/employment for 90% of citizens.
But fact, many businesses are unable to integrate internet strategies and technology into their business models due to a lack of funds, innovation, ideas, risk management, and a skilled workforce.
What I think is that 10% of companies are more powerful and they are using the internet and various technology to conduct business and now they are using new business models such as SaaS, PaaS, and IaaS. But the growth in 90% of other businesses depends on the policies/innovation of these powerful 10% companies.
Internet impact positively those businesses that are prepared for innovation and change. Else it’s impacting negatively those who are unable to change as per the technologies and trends.
6. Remote Staff
Businesses are able to hire part-time and full-time workforce for projects through the internet. There are various freelancing websites where they can choose talented freelancers. The management and production cost of in-house employees is higher than remote staff. Businesses can hire anyone anytime.
Talents are filtered by web applications as per their skills, and portfolio. It impacts the projected growth positively. It’s because remote employees are able to work from home. But remote employees are not suited and best for all kinds of work.
They are more suited for IT-related businesses such as software development, digital marketing, publishing, and content creation companies. But because it’s good for IT-related people and businesses that’s why the speed of innovation through information technology is faster.
Related: Uses of Video Conferencing software in your Business
7. Cloud storage for business
These days almost every business goes through the data. Businesses have to manage/secure employee data, marketing data, and customer data daily. It was a big work in the past. But due to cloud-based applications and cloud storage, the data is automatically saved. And doesn’t’ require extra hours to manage it. It’s because all the applications that employees are using are cloud-based in which storage and accessibility are easy.
Learn more: What are cloud storage and its advantages
8. Employee training software and online training programs:
The growth of any business depends on the team and leaders’ skills. The more talented and skilled the workforce the faster and more will be the production and distribution.
The market demands higher speed in impactful innovation, production, marketing, and distribution. While robots can do it. But robots also need to program. That’s why every business wants that they have highly skilled employees to fulfill market demands.
But to solve these problems and demands internet comes as a go-to solution. There are various online courses, and degree programs for employee training, and skill development on the internet.
Business can create their own training materials and automate them. Employees can learn on the go and while working on the project. And it’s impacting the growth and entrepreneurship development positively.
9. Customers expect data & information:
Due to the internet, today’s consumer is more intelligent and educated than a few decades ago. They want up-to-date information and data on the subject they are interacting with the businesses. And they want it faster.
And if it’s not fast then they move to others.
For example, if a website takes more than 10 seconds to load, people will close it and visit another website. Customers are not interested or compelled to buy alternative products.
They want what they want. If someone is not providing that then they move to others. And there are thousands of businesses providing the same product. That’s why businesses need speed and urgency in the impact.
10. Team communication and collaboration tools:
Due to the best internet services for businesses, high-quality business phone systems, cloud-based accounting, management, and content creation applications, it’s easy for employees to collaborate and communicate customer needs in real-time.
It’s a very competitive time for businesses to capture opportunities. But they need innovation in almost everything.
And cloud-based production and management applications and collaboration, and communication tools help to reduce the cost of IT infrastructure cost, speed the production process, ease management impact the day-to-day business operations.
Learn More: Uses of Artificial Intelligence in Daily Life
And obviously when every technology and tool is connected to the internet then it will impact the traditional and ongoing business models negatively and positively. The simple solutions are that businesses will need adaptivity for the change according to the time else the internet can impact growth negatively.
When business is adaptive to change as per the internet technologies then they will see growth in sales and net profit. And if they are unable to change they will see a decrease in demand, sales, and profit. and even it’s possible that many have to close their business due to a lack of innovation.
That’s how the internet impacts the success and failure of the business. In one line, the Internet is the main part of the business and no one can ignore it in life, business, or education.