Walther, Gay, and Hancock (2005, 640) introduced the idea that “modern documents are often multimedia documents”. The idea that the world of information has evolved with the development of the Internet is growing among businesses that use Internet services more and more. Now the question arises: how the Internet is useful for business
Mary J. Cronin (1996, 16-19) defines the internet simply as “as versatile as the companies that use it.” This realizes that while the commercial exploitation of the internet is still in its infancy, it is up to the company executives to set new methods and strategies. Reasons, why managers consider it useful, including the development of communication and communication channels and the development of new marketing channels. Since then, as the use of the internet has increased, this motivation remains stable as companies strive to maximize the effectiveness of internet-based strategies.
Cronin’s recommendations on how to use the internet include electronic publishing as a method to encourage greater collaboration among more people than in business organizations. With information available online, there are product development opportunities as customers can use better relationships to provide their own feedback to the company. In this way, the company can achieve what Cronin (1996, 16-19) calls “interactive marketing” by increasing the number of customer interfaces for the company.
This idea can be adopted by a company, specifically adjusting the possibility of using the internet to create a system for B2B communication. Therefore, the company must first analyze its current situation and determine its goals before creating the most effective strategy.
Improving Company Relations Collaboration between business partners to increase mutual benefit is not a new concept.
Relationships between suppliers and their customers and between competitors often grow when mutually beneficial results are felt. However, it is possible to study how innovations in technology make such collaborations easier and more efficient, thus creating new possibilities for mutual satisfaction. Inventory management systems have long been used as the best example of online B-2-B communication. Such a system allows timely strategies to be implemented and buyers evaluate the performance of their supplier’s abilities.
Advances in communication technology can increase the level of input from other business partners, and then positive results can be seen in improving communication. Synchronous communication, for example, video conferencing, will enable more successful coordination for B-2-B communications. The Importance of the Internet to International Companies In their study of information and communication technology (ICT), it has been confirmed that it is very important to integrate business with their customers. The view is that small or medium businesses will have fewer resources to allocate to each customer. This becomes a more pressing problem when there are customers from various countries in the world. For companies with international customers, they have specific requirements for simpler and cost-effective methods of connecting to a global network of customers.
The lack of physical presence of such businesses in the international market is compensated by the cost-effectiveness of the new technology, allowing these companies to develop such long-term relationships with their customers so that they cannot achieve their desired goals. There is a question of how the internet improves business-to-business communication. Companies that are inefficient in their distribution channels tend to have low prices for customers due to difficulties in finding their buyers. Failure to reach potential buyers causes their prices to rise. This suggests that companies with insufficient online communication capabilities can reduce customer satisfaction not only because of the insufficient level of customer relations but also because of low prices. It has been suggested that the use of new electronic communication channels will increase the company’s customer base and thus allow better pricing of its goods and services.
Video conferencing is a rich medium because of its ability to obtain more information through oral and non-verbal methods. An email has been categorized as a common communication medium because it is limited to text-based messages. Another thing to consider here is that with video conferencing, participants communicate in real-time and can therefore send repetitive ideas closer to real face-to-face discussions. In this case, there are sometimes situations where these big businesses use the internet to unite to form an industrial consortium. This is an online system that connects businesses and allows them to streamline their purchase plans. One benefit of doing this is that there is a huge price drop due to the high volume of purchases. Another benefit of this strategy is to make these companies communicate closely with each other. This allows for more intimate relationships and cooperation in the future. This B-2-B communication system often allows competing businesses to come together for a common purpose. Do not wait and apply now an internet connection in your houses and offices, if you are living in Malaysia then apply Time home fibre Malaysia to get the fastest internet speed at a very affordable price.