Paper Topic:

Role of internet in globalization of business

Roles of Internet in Globalization of Business

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Executive Summary

New advanced forms of communication have been opened by the internet and other related technologies (Anon , 1998 . This has reduced the cost of many kinds of business interactions as well as bringing firms and consumers around the globe into a closer proximity than never before (Anon , 1998 . Additionally many obstacles to efficient market performance have been swept aside due to evolution in information technology . This is creating a tremendous amount of economic value (Milner

, 2003

Internet technology as with any other technological transformation has brought about the obvious and earliest effects of increased global business transactions (Milner , 2003 . It is now easier and less costly in transferring information throughout the globe (Anon , 1998 . Doing business on the Internet is now a new reality which is going to take its true dimension through globalization and e-business (Anon , 1998 .It true that the Internet and electronic commerce have brought countries and regions together by interconnecting them

In the current world , internet is playing a very critical role in the globalization of business (Milner , 2003 . One of the guiding business imperative of the new century is going global . Globalization is a word that is on every one 's lips these days , that is , from the politicians to businessmen (Milner , 2003 . All the same , globalization is blamed for many of the ills of the modern world but it is also praised for bringing unprecedented prosperity (Anon , 1998

Introduction

This research will tackle the issues related to the role of internet in the international business . It is also intended to explore the role of internet in supply chain management and the procurement process , that is , e-procurement as well as the role of internet in providing market efficiency , that is , e-sourcing (Magrid , 1998 Further , it will tackle how internet has enabled the development and wide spread deployment of auction markets within and across organizations (Milner , 2003

The also helps to analyze and to understand clearly what main implications are related to new technologies on vertical relationships between companies along the supply chain . Further , the study will try to explain what are the implications on the customer supply relationship related to the internet adoption . Additionally , it will also clarify what are the motivations that should stimulate companies to adopt web based technologies such as the internet within their relationship with suppliers

Finally , the study will identify what are the appropriate internet tools companies should adopt according to their specific goals (Anon , 1998

In rich and poor countries alike , the accelerating pace of globalization brought about by internet technology is having a profound effect in life of each and every individual (Milner , 2003 . Internet has played a key role in the unprecedented increase in prosperity in the last 50 years globally (Milner , 2003 . This is due to the fact that it has brought rapid spread of information technology (IT . In the modern world internet is changing the way companies organize production and...

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