Impacts of Internet on global wage arbitrage
Global wage arbitrage is an economic phenomenon which comes as a result of the disintegration or the removal of barriers of trade. Development of the internet has had negative impacts on global wage arbitrage. Internet eliminates barriers of trade like cost of transporting goods and tariffs. The access to intent has enabled business across the globe to reduce any unnecessary boundary which comes about due to geographical border collaborations.
With the use of the internet, sellers and buyers across the globe are in a position of doing business in a more favorable way which is free from tariffs and all other barriers of trade. Internet has also enabled a wide variety of diversity where viewpoints and ideas are shared hence improving market products and services. Therefore, with internet the market place across the globe is flattened in terms of barriers of trade which includes global wage arbitrage.
Impacts of Internet on global regulation and oversight
With the development of the internet, there has been a faster movement in the operation of businesses. With the use of internet connected devices like iPods and laptops, individuals within an organization are able to obtain quick and urgent replies outside and within the organization.
As a result, organizational bureaucracy and streamline operations have been replaced with workflows and automated task systems. Therefore, this has a positive impact on the global regulation and oversight of business as their overall works has been eased. The regulation and oversights board do not have to make too many trips to the companies as the required information about the companies can be obtained from the internet.
Impacts of Internet on sales opportunities
There have been changes in the way business connects and sells to its clients due to the development of internet. Social sites like Twitter, Face book, MySpace and other sites have brought a whole set of new ideas and perspectives to its users on how to choose and buy products online. These sites have been of immense help to new businesses as they help them in remaining relevant in the client’s minds.
New sales opportunities are created through the internet as companies advertise their products through the internet. The development of the internet has opened new business opportunities for the marketers as it helps them to reach a large number of potential customers, which then creates new values to the consumers. This is so because internet advertising will always reach a large number of potential customers at a faction. Through the internet, marketers are also able to venture into new markets.
Impacts of Internet on costs
Internet development has led to reduction in costs of advertisement and cost distribution costs. Through the use of internet, marketers are able to target potential customer directly without the use of advertising intermediaries. As a result, marketing costs will be reduced significantly.
Impacts Of Internet On Global Business Operation | Through the internet, marketers reach their potential customers at a cheaper cost that the cost they would incurred if they had advertised via TV or print media. The size of the audience, which internet provides is higher than the audience targeted by other media forms and this makes the cost of advertising online to remarkably little.