Friday, 19 August 2011

How has the evolution of the telecommunication industry made it more complex for businesses to grow?

Ø   The print media business has found an arch rival owing to e-books and other reading material available on the Internet.

Ø  The travel business has also been affected negatively as people can share information by telephonic/electronic means instead of travelling and meeting in person.
Video Chat
Ø  Postal orders and courier services have seen a decline owing to online delivery and receipt of data.

Ø  The medium of internet has also helped people to quickly become aware of fraudulent deals and businesses, so fly-by-night and unscrupulous business dealers get fewer customers.

Ø  Owing to the growth of the telecommunication industry, transparent sources of information and actual market rates of commodities have been displayed over the internet, thereby, not allowing businessmen to charge their customers exorbitantly. So, businessmen reap lower profit on the sale of a commodity.

Ø  People get readily available information on the internet so they don’t have to rely on dealers who will add service charges for giving information.

Online information
Ø  Higher employment numbers in the telecommunication industry owing to its growth has reduced the number of skilled employees available for other businesses.

On the positive side, however, the growth of the telecommunication industry has helped businessmen reach out to people and to make their products/services more visible. This has made marketing of goods easier.

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