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The Internet's Impact on Business Operations & Interactions

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  • 0:01 Business Technology
  • 0:54 The Internet
  • 1:27 E-Business
  • 2:31 M-Commerce
  • 3:22 Social Media
  • 4:23 Blogs and Vlogs
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Lesson Transcript
Instructor: Jennifer Lombardo
In this lesson, you will learn how the Internet and other technological innovations have changed the way organizations operate and interact with their stakeholders.

Business Technology

Just think that only a few decades ago, companies did not have the options they have now to communicate and interact with stakeholders. Years ago, Yummy Chocolates would rely on a salesperson's feedback, customers' phone calls, or letters and traditional mail. The introduction of the Internet and other technology has drastically impacted how businesses operate and interact with stakeholders. Business technology refers to applications of science, data, engineering, and information for business purposes, such as the achievement of economic and organizational goals.

The main element of technology is the idea of change and how it can affect business and society. In this manner, technology has changed the communication process between businesses and stakeholders. Let's examine how Yummy Chocolates uses the Internet and other technological innovations to operate and interact with their stakeholders around the world.

The Internet

Business technology has altered how companies perform their activities in the global marketplace. It also affects how they interact with stakeholders through various forms of technology. The first and most effective technological tool that is changing communication is the Internet. It is a worldwide network of interconnected computers that allows individuals to share information between users and organizations. We are going to examine how the Internet innovations have drastically altered Yummy Chocolates' operations and interactions.

E-Business

The biggest advantage of the Internet to Yummy Chocolates is the utilization of e-business, which is a transaction of goods and services between businesses, organizations, and individuals electronically via Internet-based systems. Yummy Chocolates uses e-commerce in many ways to interact with stakeholders and improve operations. The company is able to increase sales by making transactions easier through websites. In addition, sales have been improved due to consumer targeting of advertising through Web analytical software. Yummy also receives feedback quicker from stakeholders regarding their products. Yummy allows customers to leave feedback and product ratings directly on their website. Investor updates are easy to provide via immediate business updates that e-business can render, such as daily inventory and sales figures. Finally, e-commerce can help Yummy's public relations operational goals through the advertising and promotion of Yummy's social responsibility projects.

M-Commerce

Another key innovation from the Internet explosion has been the introduction of m-commerce, which is when Yummy's business is handled via cell phones which allow their customers to use an electronic wallet. M-commerce provides the ability for Yummy customers to order their delicious chocolates at any time and anywhere, which has resulted in more profits for the company. For example, many customers place orders for the holidays while taking the train to work. In addition, suppliers and customers can pay for their purchases directly from their smartphone. Lastly, operationally the company can target their customers via text messages and mobile advertisements. The company saw an increase of over 200% when they initiated a text-based coupon ad program.

Social Media

Yummy Chocolates has a well-established social media plan. Social media is a collection of different ways of using technology that allows people to connect, explore interests, and share activities.

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