Internet refers to a set of users, enterprises, and content providers that are interconnected by Internet Service Providers (ISP) or computer networks interconnected on a global scale, internet offers connectivity, which refers to use of computer networks to link computers to one another through provision of information resources between the computer systems and the final users.
World Wide Web refers to a system of interlinked hypertext documents contained on the internet, it constitutes a pool of human knowledge and allows entities like businesses, academic entities, public and private entities or even experts, to share ideas or collaborate to bring forth common projects. It is a very important tool in business world for it enhances or strengthens globalization which refers to a process through which economies of countries around the world become increasingly integrated over time such that diffusion of commodities, everyday experiences and ideas amongst various entities in these countries is made possible.
The two terms, World Wide Web and internet are considered synonymous but when you think about it, you require internet first in order to apply the latter, thus World Wide Web is an application which would only run on internet.
Internet and World Wide Web provides communication and analytical power that firms need to conduct trade, and manage business in a global scale; this greatly strengthens globalization of the world economy which ultimately offers new opportunities for businesses.
With transformation of businesses from industrial based economies or societies into knowledge and information based economies internet and World Wide Web remain fundamental in provision of knowledge and information which are the main ingredients in creation of wealth to any organization; this is already transforming the ideology that countries can only be successful by realization of their industrial targets.
The transformation of world economies to knowledge and information based has given rise to new organizations which deal entirely with production, processing and distribution of information, like CISCO international. These organizations keep on contributing immensely on development of both local and world economies.
Internet and World Wide Web have made it possible for organizations to conduct their businesses at global levels, this offers competition on a global scale which leads to innovations and inventions ultimately improving international business activity and globalization of world economies.
Internet and World Wide Web have become large market for organizations and companies due to its provision of effective, efficient and low cost services like advertising and ecommerce which refers to electronic mediated business. Internet is accessed by very many people on a global scale thus constituting an effective and efficient way to spread information to huge numbers of people simultaneously around the world.
Revolutionalization of shopping due to presence of interactive websites that would allow internet shopping and internet auction markets. Internet and World Wide Web would allow for a broader shopping area thus improving international trading.
Internet and world wide web have made it possible for organizations all over the world to ascertain customer preferences through the use of personalized marketing, this includes: facebook, myspace, friendster and so on where individuals use internet to advertise themselves including details like hobbies and interests, this kind of information can be very useful for organizations since it makes it possible to tell what the users would be interested in buying thus advertise their own company products to this people.
Internet has made it possible for increased informational flow between remotely located entities through invention of fiber optic communications, satellites and stable internet providers, factors which have transformed business enterprises and led to creation of new products through use of knowledge and information systems.
Internet and World Wide Web have made it possible for organizations to decentralize their operations through use of remote monitoring information technology enabled systems. This has transformed world trading through branch networks across borders or even in different continents, an example is Google international which is in most countries around the world.
Internet and World Wide Web have led to creation of innovative applications such as mobile banking, tracking of goods and services, advertising on free email services and so on, this enables transactions across the borders like procurement of goods and services. This has strengthened international trade and made business activities oversees easy considering that one does not have to travel to seal business deals.
Internet has made sharing of ideas, knowledge and skills across the globe easy through use of collaborative software like free software movement, this allows for a broader consultative network which leads to quality service provision across the globe and also strengthens world wide trade by initiating and supporting innovative business ideas made possible through local or global sharing.
Internet has also intensified rivalry among many business entities this is because it broadens competition scale, a factor which affects overall profitability of these organizations. An organization may choose to slash its profit margins in order to attract more customers probably on a global scale, an act which would probably also necessitate other organizations dealing in the same products to do the same. Ultimately some new players may be eliminated or discouraged from even starting the businesses.
Internet and World Wide Web has made it possible for individuals to access items which are not or are rare to find in their areas of location. Internet has made it possible for emergency of world wide production markets which has broadened consumer’s and company’s scope of trading, this has continued to strengthen international trade.
Internet has connected most economies in the world making it hard to contain international crisis or even economic collapse in any of the countries; this may be highly consequential and affect international trade negatively hampering its growth.
In conclusion it is justifiable to say use of internet and world wide web facilitates globalization though also globalization makes internet and other technological assets valuable, this implies that the more internet enabled technology is advanced, the more globalization is achieved and the more stronger international trading would be.