The Web Economy – E-Commerce
Ordering a snack from the store, buying a television, sharing the moment with friends, sending a picture over instant messaging comprise Web Economy Comprise. Before the internet, if you wanted to keep up with the news you have to walk down to the newsstand when it opens in the morning and buy a local edition reporting what had happened the previous day. But today, a click or two is enough to read a newspaper and news source from anywhere in the world, updated up to the minute s human beings are always attached to a lot of essential things in our life. Jobs, education, retailing banking, etc. these are the compulsory things in our life. It was very hard to get in touch with these before technology changed our lives and made it easier for us. It has contributed to a lot to exchange our life from writing a letter which could take us one month to arrive at the receiver, to writing an e-mail which can be received by the receiver in just one minute, from going to the shop to choose and buy things using E-commerce and no one even needs to go to the shop to collect their goods. Sticking with the book for a whole day can be very amusing for the students. Thanks to IT which introduced us to an innovative way of studying. Some of the topics described in more details below which have changed because of IT.
The Web Economy.
The Web Economy or the “gig” economy is the rapidly growing parts of our economy that connects people to work through an online marketplace and on-demand marketplaces where workers get dispatched vi apps to do various jobs from driving cars, typing scan documents, designing logos and websites to making a veterinary house call. The possibility of you making your business to be seen by a wide range of audience give whosoever is doing business online a strategic advantage for trading compared to their offline counterpart. government and businesses cannot ignore the economic and social impact of the internet nowadays have in society. Public institutions, private enterprises/companies, and entire industries are realizing the big opportunity that it represents when it comes to reaching, business expansions and productivity gains. However, the internet is reshaping our economies and will keep on doing so for the next years. It has contributed a lot in making the world more united and connected, and it is becoming a very important element in each country’s way of creating wealth. Medium and small-sized companies have benefited a lot because it has expanded their demand and the way they are doing business.
Productivity gains and efficiencies have arisen through the whole value chains which have led to a lower several cost and establish synergies across products and services. It has also impacted the way that these products and services are created, distributed offered and consumed. Public and private sectors are being directly impacted and have to adapt to this change if they want to keep on being powerful, successful and meaningful in the 21st-century society.
Besides the growth in business and the massive integration of the internet into our daily activities, the internet has also been a huge contributing factor to the swelling GDP of many western and major economic powerhouses in Asia like China, Japan, Singapore, and India. The impact created by it can be seen worldwide, but the extent in which the impact is felt in a nation depends on the number of people using the internet profitably.
Businesses and Jobs
The web economy has a great impact on businesses and job creation. The integration of the internet has changed the face of the 21st Century entrepreneurship and Job creation. However, we have witnessed small ICT start-ups Grow to a massive economic powerhouse in many countries across the world like Facebook, Twitter and Google, etc. These companies have moved from small ICT start-ups to huge profit-generating centers and have created millions of jobs worldwide. On the side of Jobs, the internet can be considered as the center for the mutual distribution of wealth via Jobs. With the use of the web, it is very possible to operate a virtual office where you are right in your house sited and working for companies’ overseers and you have no tax to pay anybody. There are no special skills needed to work online. It is very possible to do whatever you are presently doing offline on the internet.
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