Doing Business on the Internet

It is estimated that the Internet is likely to generate sales in excess of $3.2 trillion in the year 2003, a result of both revolutionary and evolutionary factors. These sales will not be limited to such well-known companies as Amazon.com and eBay, companies whose Web sites are garnering huge numbers of hits. For example, the e-business unit of Avnet's computermarketing group in Phoenix has experienced growth averaging 30 percent per month since November 1997 (Gonsalves & Kerstetter, 1999, p. 25).

Among manufacturers, companies such as Dell Computer, Oracle, Gateway, Cisco Systems, and Hewlett-Packard already are connect tens of thousands of times each day to other businesses as well as to consumers. Even large traditional companies such as Dow Chemical, Boeing, AlliedSignal, and General Electric are installing sophisticated e-business systems. The marketing (and financial) message they and others are sending is that companies must use the Internet if they are to remain competitive (Bridges et al, 1999, p. 107).

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, the demand for information at various points along the distribution chain is increasing, and the Internet provides a way for companies to supply and receive that information. It is unlikely that jumbo jets or railroad engines will be purchased on the Internet in the same way that consumer items are purchased with a single mouse click, but the Internet can be used to make available product information and facilitate data transfer. Thus a purchase order can be issued, received and the product shipped entirely through the Internet. Analysts expect more than 30 percent of all business-to-business commerce to take place on the Internet before 2005 (Bourge, 1999, p. 2). General Electric already uses e-commerce to buy commodity items and is saving an estimated 10 percent to 15 percent when compared with non-Internet purchasing. A company spokesperson confirms that approximately $5 billion of General Electric's supply transactions could be conducted on the Internet by 2002 ("The Future," 1999, p. 12a). It is also estimated that domestic business-to-business trade on the Internet will reach more than $1.3 trillion by 2003, which is more than 30 times the $43 billion transacted in 1998. Because business supply chains are expected t
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Approximate Word count = 3144
Approximate Pages = 13 (250 words per page)

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