How has the Internet redefined how business is done today?

Question

How has the Internet redefined how business is done today?

Answer 1

With the constant progression of the Internet, businesses gain the opportunity to reach a wider audience and make their products available to everyone. A few years ago, online businesses were almost unheard of. But as technology continued to advance and personal computers became household items, businesses began to take advantage of the marketing opportunities before them. By selling products online, Businesses were reaching larger audiences in a much more convenient way. In today's society, virtually everything can be purchased online with a credit or debit card. But as more and more businesses jump on the Internet bandwagon, competition increases. Online business compete intensively for advertising positions. Some businesses offer lower prices to attract more consumers. The progression of the Internet has essentially transformed the ideas and dynamics of the business world. Many speculate that within the next 50 years shopping malls and department stores may cease to exist due to the increasing popularity of e-businesses.

Answer 2

The single biggest factor is that many stores no longer are 'brick and mortar' stores, but are storefronts on a PC.  They can be handled out of anyone's house, and still seem very professional.  EBay has redefined second hand items and sometimes is seen as the Garage Sale of the world.