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Seminar paper from the year 2011 in the subject Communications - Public Relations, Advertising, Marketing, Social Media, grade: B, University of Michigan, language: English, abstract: The concept of internet,necessitated by communication technology and the effect of globalization have transformed the contemporary society as regards business operations, governments, banking institutions, individuals, educational institutions, international organisations and subsequently provided consumers with adequate information which is instrumental in determining their choice, rights and knowledge acquisition (Layton, 2007).With such technologies consumers are adequately informed and thus stand at a key position of critically determining their product choice and preferred product (McNab, 2004). With the increased use of internet the modern consumer is well informed on the organizations visions ,missions, strategies, products and management issues, since such information is easily accessible through internet technology through out the world(Layton, 2007). Indeed analysts concur that, the consumer does benefit from such information but what is more, important especially to the organization, it's the positive impacts tied to such a strategy (Berry, 2004). In this case access of organizations information's by consumers is both a boon and a detrimental effect. Under this ideation it's imperative to note that the benefits for indeed surpass the limitations. This study will critically evaluate the use of internet by organization and consumer for information sharing and the subsequent impact it has on the organization as well as the consumer.
With internet,geographical barriers are rapidly vanishing into oblivion. This concept has led to immense disarticulation in organisations all over the world. Indeed, the revolution in the pattern of universal communications technological systems has led to creation of contemporary approaches in the global economy. Currently its, participation in the information economy has become the revised set and elementary prerequisite for economic growth (Berry, 2004). The advent of internet indeed, opened new opportunities and opened the world virtually to new ideas and ways of doing things.Analyst posits that the business world has had great benefits from technological innovation tied to the internet and telecommunication. Just picture this, some decades back consumers could only obtain information from the markets but with technology the concept of electronic marketing has become a reality and subsequently connected organisation to millions of consumers worldwide, bridging the gap between physical availability and purchasing.