Paper type: Summary Pages: 6 (1272 words)
Executive SummaryThe internet has permitted people from around the globe to buy, sell, trade, learn and communicate at a global level. It has given way to progresses like business on the international level, e-commerce, e-learning, and e- training. These innovations have become the driving force of globalization (the process by which businesses or other organizations develop international influence or start operating on an international scale). E- Commerce Ecommerce is the process of purchasing or selling products by electronic means such as by mobile apps and the internet.
E-Commerce refers to not only online retail but electronic transactions as well. The history of ecommerce isn’t a long one. This history of ecommerce began around 40 years ago and steadily continues to raise with the growth of new technologies and innovations along with the many new business entering the online market yearly. In the mid 70’s Electronic Data Interchanges (EDI) and teleshopping had a significant role in paving the way for modern day ecommerce.
Ecommerce history is entwined with the history of the internet. In 1991, online shopping became a reality when the internet became open to the public. Since that year tens of thousands of companies have taken up residence using web sites.In the beginning, the term ecommerce meant the progression of execution of commercial transactions electronically with the help of the top technologies such as Electronic Data Interchange (EDI) and Electronic Funds Transfer (EFT) which presented an opportunity for users to exchange business materials and handle business electronically. The use of these technologies appeared in the late 1970s and permitted business companies and organizations to direct commercial credentials electronically rather than phone, mail, or in person. The Internet began to move forward in the acceptance among the general public around 1994. In 2000 an excessive number of companies in the America as well as Western Europe Nations embodied their services in the World Wide Web.There are many advantages to ecommerce. One being that ecommerce has no geographical limitation. Companies that use ecommerce are able to sell to anyone, anywhere in the world. Physical businesses usually have limited hours, but an online ecommerce shop remains open 24 hours a day, seven days a week, 365 days a year. An ecommerce company isn’t tied to any one location when running their business. As long as you have a laptop and an internet connection you can run your ecommerce business. While ecommerce has its many advantages, it has it share of disadvantages as well. Ecommerce lacks personal touch, not that all physical stores have a personal approach, but countless do. Thus, spending at those retail outlets is reassuring and stimulating. Clicking on “Buy Here,” and piling up products in virtual shopping carts, is just not as satisfying. Ecommerce also has security and privacy issues. E-commerce websites record all the important information about its customers, which are to be kept secured because it includes details like name, phone no, address, and bank details. There isn’t an online store hasn’t had an issue with security whether they are small, medium or large corporations. E-TrainingEtraining is the delivery of training programs by electronic means. Etraining uses electronic devices such as: computers, tablets, or smart phones to provide job training or other educational material. Over 40% of the worlds Fortune 500 companies use some sort of online training method to train current and future employees. Many corporations have reported that etraining is one of the most valuable methods that they use. Because etraining solutions can offer complete information to the workforce anywhere and anytime, it creates an instant expertise since employees no longer have to go away from the company to have traditional classroom lectures.Etraining has a few advantages. One being that it is cost effective. Etraining discontinues the need for expensive course materials and onsite instructors. This could save businesses at least 50% when replacing traditional instructor- based training with etraining. The amount of time saved by etraining is another huge advantage of etraining. Companies can easily update course content and manage training delivery through their Learning Management Systems (LMS), while learners don’t have to rely on scheduled training and further waste time. Etraining also shows that it can improve the performance and productivity of employees. It does this by allowing learners to train quicker and easier, because it’s at the learner’s own pace, which makes them feel more motivated and engaged.A disadvantage of etraining are that there is a major lack in face to face interaction. True, some people can thrive while learning electronically but some have struggles. While e-learning can be quite interactive these days, through the use of video conferences, webinars, and face-to-face video chat, it still isn’t the same as sitting across the room from a real person. Another disadvantage of etraining is the lack of flexibility. Etraining can be wonderful for gaining new knowledge and certain skills. Nevertheless, when it comes to learning more advanced skills and complex competencies, it becomes difficult to put together an effective etraining program, whereas in live training sessions adjustments are easily made.E-Learning Elearning has become the most popular way to deliver training and education today. Many firms are using elearning to better educate their staff. Elearning is the delivery of learning and training though digital resources. Much like etraining, elearning is based off of formalized learning, businesses teach employees through electronic devices such as computers, tablets and even smart phones. In other words, elearning is learning, training, or delivering education online through any digital device. Many factors had a major influence in the history of elearning. The Internet being one of them. Previous to the growth of the internet, many people and businesses depend on on printed guidebooks, CDs and other deterring methods for learning and training. The growth of the internet allowed businesses to abandon one-dimensional practices and utilize the elasticity of eLearning. Along with the internet, the development of multimedia. As the progression of elearning took place, the ability to mix elements such as images, videos, audio and graphics demonstrated to be a more dependable way of keeping learners interested, focused, and engaged compared to traditional classroom setting.Elearning advantages are similar to those of etraining, however they slightly differ. Elearning is flexible. Online learning courses can be taken anytime and anywhere. The only requirement would be an internet connection. This allows people to work diligently on their own time. Elearning also has easy accessibility. Notes that are downloadable online, online support, online communication, training videos, and assessments/quizzes that can be taken anytime during the course that can help the student learn better and vastly.The disadvantages of elearning are that it sometimes requires more work compared to traditional classroom settings. During online learning, the students are required to do a large amount of reading as well as the assignments so as to prove that they have mastered the material which they were expected to learn, thus ending up working more than you would in a classroom setting. Another drawback to elearning is that they may have are low quality programs and no accreditation. Many online courses are not accredited to offer the relevant training they claim to offer and thus end up offering very low-quality training which may not benefit the trainee or the company.ConclusionIn conclusion e-commerce, e-training, and e-learning are extremely beneficial when dealing with international business. International business is all commercial activities that take place to promote the transfer of goods, services, resources, people, ideas, and technologies across national boundaries. The internet has permitted people from around the globe to buy, sell, trade, learn and communicate at a global level. Without e-commerce, e-training, and e-learning domestic and international business would be able to thrive.
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Executive SummaryThe internet has permitted people from around the globe to buy. (2019, Aug 20). Retrieved from https://studymoose.com/executive-summarythe-internet-has-permitted-people-from-around-the-globe-to-buy-essay