Over the past few decades, internet has become the center of interest in virtually all aspects of mankind. Discovery of internet computer technology has currently emerged as the key factor of influence. It has brought a great change to human social nature, health and economics. In fact, internet technology has been adopted in all fields of economics due to its reliability and efficiency.
As such, internet has gained a wide spread popularity at the moment. Some of the areas where internet has been applied effectively include: production of manufactured products, global trade and marketing through the so called e-commerce, Information Technology Management of many international corporations as well as local production companies, and social networking.
In addition, internet has also been applied in other sectors which contribute significantly to the economy of any particular country. Healthcare is one of those sectors in which adoption of internet has led to great advancement with regard to quality service provision and efficient access to medical information by both patients as well as the concerned health professionals.
Table of Contents
- Introduction
- Impact of Computer Technology to the Economic System
- Online Trading and General Business Interaction
- Business Communication
- Marketing and Advertising
- Revolution in Business Management Strategies
- Enhancing Social Diversity
- E-medicine
Objectives and Key Themes
This text examines the profound impact of computer technology, particularly the internet, on the economic system and its various facets. It explores the ways in which internet technology has revolutionized business communication, marketing, advertising, and management strategies, leading to a more efficient and interconnected global economy.
- The role of internet technology in shaping modern economic systems
- The impact of internet-driven globalization on business communication and trade
- The evolution of marketing and advertising strategies in the digital age
- The transformation of business management approaches with the adoption of information technology
- The potential of the internet to foster social diversity and global interconnectedness
Chapter Summaries
- Introduction: This chapter introduces the widespread adoption of internet technology across various sectors, highlighting its impact on social, economic, and health aspects of human life. It emphasizes the role of internet technology in revolutionizing economic systems.
- Impact of Computer Technology to the Economic System: This chapter explores the significant influence of internet technology on global economic systems. It discusses the transformation of trade and commerce, leading to increased efficiency, reliability, and a sense of egalitarianism in global business interactions.
- Online Trading and General Business Interaction: This chapter delves into the specific areas where internet technology has significantly impacted business operations. It examines the advancements in business communication, marketing and advertising, and banking, facilitated by the internet. The chapter also discusses the emergence of e-commerce as an efficient channel for business transactions.
- Business Communication: This chapter focuses on the transformation of business communication through internet emailing. It highlights the efficiency and speed of communication compared to traditional letter mailing, emphasizing the real-time nature of email communication.
- Marketing and Advertising: This chapter explores the advancements in marketing and advertising brought about by internet technology. It emphasizes the ease of information exchange among marketing researchers across geographical boundaries, leading to improved market information generation, timeliness, and accuracy. It also discusses the effectiveness of online advertising in reaching a large audience quickly.
- Revolution in Business Management Strategies: This chapter examines the impact of internet technology on business management strategies. It highlights how information technology has revolutionized business operations, streamlining activities and increasing efficiency for both local and multinational corporations. It provides examples of companies like General Motors and Coca-Cola that have successfully adopted IT management strategies.
- Enhancing Social Diversity: This chapter discusses the role of internet technology in promoting social diversity through economic globalization. It emphasizes the importance of social networking in facilitating interactions within the global business community, enabling the sharing of market information and fostering global interconnectedness.
Keywords
The text focuses on the key concepts of internet technology, economic systems, globalization, business communication, marketing and advertising, e-commerce, business management strategies, social diversity, and information technology.
Frequently Asked Questions
How has the internet created a more egalitarian economic system?
The internet has increased efficiency and reliability in global trade, allowing smaller entities to compete and providing widespread access to information, which fosters a sense of equality in business interactions.
What are the main areas of business impacted by internet technology?
Key areas include production, global trade (e-commerce), marketing and advertising, information technology management, and social networking.
How has business communication changed due to the internet?
Traditional letter mailing has been largely replaced by email, which offers real-time, high-speed communication, significantly improving the efficiency of corporate operations.
What is the role of internet technology in healthcare (E-medicine)?
It facilitates efficient access to medical information for both patients and professionals, leading to better quality service provision and advancements in medical research.
How does the internet promote social diversity in economics?
Through social networking and global interconnectedness, it allows diverse groups to share market information and participate in the global economy, breaking down geographical barriers.
- Quote paper
- Caroline Mutuku (Author), 2018, Internet has Brought Forth a New More Egalitarian Economic System, Munich, GRIN Verlag, https://www.grin.com/document/433543
