Business Ideas What is the impact of the internet on business strategy and competition?

[Mataracy]

There is two main factors that determine the probability of a business entity.

(1) the structure of the industry in which it competes,and

(2) the ability of the entity to achieve sustainable competitive advantage.

THE INTERNET AND INDUSTRIAL STRUCTURE.

The Internet has lead to the development of some new industries, such as online auctions.

However, it has had much more significant impact on existing industries and the nature of competition within these industries.

The impact of the internet on competition in any industry can be analysis within this five model.

(1) Competitive rivalry

(2) Threat of new entrants

(3) Bargaining power of suppliers

(4) Bargaining power of customers.

The overall effect of a- business decision taken by many company has been to make competition much more price-driven and to reduce probability.

Under the individual forms and competitive advantage the internet has also had an effect on the ability of companies to sustain competitive advantage.
Morer idea is needed.

 

[sincerem]

The internet have drawn lots of people especially the entrepreneurs, offline business owners to advertising their business online since the covid19 posed a major challenge to our health, which resulted in the movement restrictions. Now the offline business have find pace with advertising online, it has gradually moved into online type of business.