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ACCA FAB, F1, P3 Benefits of Internet in Business

Now a days, nearly all businesses are more or less affected by the internet depending on the industry in which they are operating. Example educational businesses is greatly affected by internet due to reduced traveling and communication cost and instant product downloads available over the internet. While on the other hand consumer electronics are relative less affect by internet due to consumer wants physical inspection of goods and enjoy shopping with their relatives and friends. Commons activities of business are being served through internet are:

Marketing

Some businesses merely use internet as marketing tool by placing banners on others websites or constructing their own website and optimizing for search engines.

Handling Customer Enquires

Some businesses goes further and provide contact details in the form of e-mail addresses and instant enquiry forms. They also provide frequently asked questions which visitors may ask before buying the goods or services.

Online Transactions

Some businesses also allows customer to order goods online through variety electronic payment methods such as debit/credit cards and electronic funds transfer services such as PayPal and Payza formerly AlertPay.

After Sales Support and Services

Some businesses use internet to provide support with subsequent technical aspects of product usage and training. Software companies provide online tutorial for its customers and provides updates to improve the software performance.

Recruitment

Some business use internet through they attract potential employees to their business from wide labor market to get the necessary skilled worker at reasonable cost. One website particularly useful for recruitment purpose is linkedin.

Public Relationship Management

Business also use internet to manage relationship with employees and external parties interested in the affairs of the business known as stakeholders. Business conveys their mission, policies, procedures, ethical standards and financial results of their business performance.

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