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Compose a 1250 words assignment on a massive growth of electronic commerce across the globe. Needs to be plagiarism free!
Compose a 1250 words assignment on a massive growth of electronic commerce across the globe. Needs to be plagiarism free! Information technologies have led to a massive growth of electronic commerce across the globe(Einav, Levin, Popov & Sundaresan, 2014).
Use of new technologies of information has led to the reduction of transaction costs and has increased coordination among business partners. This is as a result of automation of transactions online as well as productivity and gains inefficiency. Information technologies, such as the ability to advertise and selling and buying of goods online have facilitated the entry of electronic businesses into new markets or the extension of existing markets. It has also resulted in the greater integration of business systems with suppliers and customers.
Business organizations and firms invested in electronic commerce have been able to improve the performance of a variety of different business activities along the chain of production. For example, for the past decade, it has become easier to manage and lead global e-commerce organizations through the use of video conferencing and smartphones. The invention of smartphones has also facilitated close contact with customers (Einav, Levin, Popov & Sundaresan, 2014). It is possible nowadays to create mobile phone applications that describe a firm’s products, its locations, and the company can use it as a tool to provide feedback from customers to the company. All in all, information technologies have facilitated the bridging of huge gaps that existed between the various players in business transactions. Consequently, this has led to faster and more efficient business operations.
Rapid advancements in information technology combined with shorter cycles of production have reshaped how businesses currently operate.JIT (Just-In-Time) alludes to the ability of companies to respond promptly to changing customer requirements and needs. To survive, it is essential that firms nowadays be able to .meet the ever-changing situations in the business environment.
