Social and Economic Impact of E-business In Human Society

Social Impact of E-business in human society:

Education would be one of the positive impact of e-business in human society. At present everyone is able get online education. Taking consideration to this evidence, it can be said that in future there would not be any physical classes in schools and colleges. Everybody would be getting online education by sitting at their home. Similarly, everybody would be able to complete their research on any topic through internet.

At present there are many online jobs. Person at London can work for a company at Kathmandu. Taking consideration to this evidence, it can be said that in future most of the people would be working from their home. Taking about negative impact, due to international competition, there can change of increasing local unemployment.

People can get in touch with their family and friends through social networking platforms. Recently, Facebook added a feature to be live for its users. These sorts of approach in social networking platform would make people more closely in future.

Economic impacts of e-business in human society:

There are both positive and negative impacts of e-business in the economic sector. In long run the huge cost of business can be reduced by using the right automation. Most of the business organization at present use automation. In future, it would be difficult for any of the business organization without using automation.

Today in this digital world, almost all of the business houses are dependent on online marketing. Online marketing is being massive. Recently in US election 2016 about 1 billion US dollar is spent on online marketing to promote the presidential candidates. (President, 2016) Taking consideration to this evidence, it can be said that in future business houses would spend huge amount of budget in online marketing.

E-business would increase the business activity. As people can go online to sell their products, there would not be any geographical limitation. At present a person at Beijing can shop the product which is available in online store at London. Taking consideration to this evidence, it can be said that in future, international trade would be massively increase.

There are some of the negative economic impact of e-business too. Record company are being replaced by YouTube. In future the cinema halls could be replaced by online filming.

Besides social and economic sector, e-business could make impact on other sectors such as government, administration, etc.

References:

Leinbach-Reyhle, N. (2014) 3 reasons Websites are vital for small businesses. Available at: http://www.forbes.com/sites/nicoleleinbachreyhle/2014/09/29/websites-for-small-businesses/#669f40584318 (Accessed: 11 November 2016).

Laudon, K.C. and Traver, C.G. (2008) E-commerce: Business, technology, society. 4th edition. United States: Pearson/Prentice Hall.

President, S.V. (2016) U.S. Presidential election ad spend 2016 | statistic. Available at: https://www.statista.com/statistics/470711/presidential-election-season-ad-spend/ (Accessed: 11 November 2016

Phillips, P. (2011) E-business strategy. India: India Higher Education.

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