The,Marriage,between,Internati business, insurance The Marriage between International Trade and Internet Gave B
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A trader tobe successful in one's domestic market, one does not have to know the nuancesof business. One just has to apply simple economics by making available one'sproducts or/and services to a needful market. But at the same time, if onewants to expand one's business to markets beyond one's knowledge, one has tospend time and money to obtain the right input. Therefore, it is quiteimaginable that entering into international business is a challenging process. The arrivalof internet stimulated international trade by reducing the cost oncommunication with the existing trade networks. The traders began to useinternet extensively by providing information about their products or/andservices through their company websites. In addition, it allowed their existingbusiness network to get updates on the latest supply chain. The internetservices did not give instant results in 1995 to international trade, yet by1997 it showed signs of scripting a new chapter in the annals of business.Initially, internet trade was confined to developed countries due to the commonavailability of the services. When internet services spread all over the world,it actually benefited the poor nations than the rich ones. The companywebsites did become virtual web shops for the traders around the globe. Unfortunately, netting new clients throughthe web shop had to go through the same complexity which was employed in thephysical one. Even though, it has been evident that internet had all theingredients to sink the cost of global exchange of goods, it was not sure howit was going to do that. But with the emergence of Business to Business (B2B)portals, internet services were able to make a complete makeover to this end. B2Bsprovided the database of international traders along with their products or/andservices. In addition, they provided prevailing market information which alwayswas essential for any enterprises involved especially, in international trade.With the advent of globalization, market information became very critical forany trader to take decision pertaining to product sourcing, partnerships,alliances, exporting, transporting, etc. Leading B2Bs further provided separatesection on international trade related topics with country specific solution.Such services have positioned B2Bs as indispensable trading tool for doingbusiness around the world regardless of the size of one's business. Themajor feature of a B2B portal is that, it helps one to search whicheverproducts or services one is looking forward to sell or buy through "Tradeleads". A Trade lead is nothing but a description of the product orservice which one extends to the market with an intention of selling or buying.A Trade lead further enables one to minimize the time spend on businessexploration through its product or company specific search. All the leadingB2Bs have Trade leads with details about the trader who has posted it and thetime when it has been done. Thus B2Bs literally help a trader to interact withbusinesses across the world by just sitting in one's office chamber and keyingin some words of communication.
The,Marriage,between,Internati