The Internet Remains in its Infancy and How It Affects Business

By Brett Kishkis


The world wide web has brought creative destruction to modern business. Joseph Schumpeter's creative destruction is the process by which advanced technology destroys old businesses and the employment landscape connected with it. The new replacements create drastic change to those industries being destroyed. Web 2.0 sites are driving this trend by offering automation and major increases in productivity.

We are currently in the early portion of the business revolution where the Internet is bringing to the business arean. The velocity of innovation is only accelerating. Web connection speeds are just a small fragment of what they may eventually be. When the structure expands, all internet sites and media connected with it will increase also. More individuals will have even more opportunities than ever before. Individuals and enterprises who are currently leaders today will have to strive for improvement.

There is in addition, a huge premium being placed on creativity. Additionally, you need to be able to move quickly. As more individuals have access to more info, speed and continuous innovation will be needed to prosper. Lifetime work is a part of history.

The web will continue to replace many services. Fast and simple self-service will continue to rise. An ideal example is the undeniable fact that travel agents have been in decline for over 15 years. Self-service has become the standard in industries like this. Tax preparation is another example where we are seeing this happen. Many people who file straightforward returns with few IRS forms can now file for free on various internet sites. This will put many low end tax preparers into bankruptcy. This can leave only the very skilled tax professionals.

Web design is an important factor in successfully integrating self-service. The average user will not be as skilled as those who worked in that particular industry. Therefore, the interface must be straightforward enough so that they can do what they need. In many industries, this portion of the puzzle hasn't been worked out yet. Those who do figure this out will thrive in their own industries. Creative destruction will happen whether we're keen on it or not. So, we will be able to either exploit it or get swept away by it.




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