E-Commerce

Electronic commerce or what is commonly called e-commerce is one of the most popular and widely used innovations in the international business environment today. It has a very great and significant impact on almost all businesses as well as on these businesses' participants. With the fast-paced lives of people, e-commerce is now able to break up old borders, change behaviors, and bring about new opportunities. Since the usage of the internet is increasing tremendously, e-commerce was induced to create a trouble-free and accessible way for businesses in making transactions with the people in its internal and external environment. Jobs are now done faster through the net and people rely heavily on it with almost everything that they need.

One of the industries that take good advantage of this evolution in technology is the banking industry. E-banking followed the introduction of e-commerce and thus some business strategies were reoriented towards the new possibilities offered by the internet. Private customers are now provided with sheer unlimited source of business information and could make transactions with financial institutions on whatever time in whatever location. Banks, on the other hand, reduced their transaction costs and offered services more closely targeted to the new market needs.

Multimedia Messaging System or MMS is the newest trend that is now popularized by the latest models of mobile phones brought about by the well-known Finnish company, Nokia. It is one of the new-fangled, high-tech features of phones widely used nowadays by most professionals. This advancement offers telecom subscribers a variety of ways of messaging, which includes the creation of video clips, sound clips, and photos sent via network in about a second. Many firms benefit from this modernisation inasmuch as it increases the possibilities of corporate people to communicate. Supervision is minimized and much of the information needed are obtained in a matter of seconds. A member of the management team of the marketing department of Globe Telecom, for example, may not need to call a meeting to present his proposal. Through a video sent from his mobile phone to his colleagues', time and effort is spent less with the value and quality still established.