With the expansion of technology the World Wide Web has inevitably become not only a global source of information, but is also a place for commerce, a market place on its own. Considering the wide spread Internet access available now, businesses are now able to reach untouched potential customers. However, to maximize any business medium, one first needs to understand what the positive potential can be.
Such is the positive potential that can be identified as the many advantages of an online business.
With an Internet business firms can offer its employees work options that other companies may not be able to offer. They can offer employees the option to work from home, create their own hours and create their own work environment. Firms can also hire employees from anywhere in the world, which means they have access to a large pool of talent. When employees have this kind of flexibility, it can make morale high and creates an atmosphere for higher productivity.
An Internet business offers flexibility to the customer as well, according to the e-Business Guide. Firms can set their online business to accept orders 24 hours a day, seven days a week and 365 days a year. They can offer a library of information to customers about their business that can be available at all times, and customers can send in emails with questions any time they want. With the automatic order taking capabilities of the Internet, and online real-time inventory tracking abilities, firms can offer customers anywhere in the world speedy order information without the need for constant human interaction.
The Internet reaches millions of people all over the world at any point of time. An online business can create an international presence at once without the need to pay for costly retail or office space in a foreign country. An online company can also segment the business and create specific websites to appeal to different cultures throughout the world.
The Internet offers businesses the ability to update product information, change product design and specifications, and introduce pricing promotions and specials instantly. Firms can take feedback from customers and quickly make changes to their website user interface to help make the customers’ experience easier. An online business can also offer customization options to customers that can allow someone to make changes to a product and then order the product with those changes. For example, a customer can create and order his own customized T-shirt from an online business quickly and easily.