The Internet has taken the business community by storm since the early 1990s. When the community realised the potentiality of the Internet they hailed it as the most transforming invention in history. It has the ability to completely change the way business is being done. And, it is doing so at a feverish pace, turning business upside down and inside out (The Economist 1999).
Information Technology (IT) experts went on to use the Internet technology to spin off the Intranet and Extranet to enhance business competition. Together with the Internet, their innovative implementations were able to provide competitive advantage for a company.
The Internet, Intranet and Extranet collectively have dramatically affected business. A growing number of corporations believe in the technology's potential to lower cost, add value, improve productivity and create new business opportunities (The Economist Intelligence Unit 2001).
So much has been written about the Internet, Intranet and Extranet.
What exactly are they? What are their impacts on current business practices and activities?
This report seeks to address these questions in the Trading Process Network, a business tool that integrates the Internet, Intranet and Extranet technologies. First, the report introduces the Internet, Intranet and Extranet. Then, it goes on to provide a brief description of the Trading Process Network.
Subsequently, the study proceeds to critically review the positive and negative impacts of the Trading Process Network on current business practices and activities. It concludes with some key findings resulting from the positive impact and then provides some suggestions to overcome the negative impacts.
2. INTERNET, INTRANET AND EXTRANET.
The Internet technology has risen so fast in the last ten years that it is now considered a business necessity. The Star (2004), a local newspaper, published the figure below summarising the history of the Internet.
(source: Star 2004)...