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Virtual Business

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Submitted By rabitafarzana
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According to Ta-Hsiang Hung, virtualization has brought a significant change in the business industries. It took the business organizations to their highest level. It all happened since Internet was opened to the public access. Then it was just like a revolution for the business organizations. Most of the businesses became Internet based and they were called e-business. They were also called e-commerce. Those who could not transform themselves into e-business were closed down. In mid-1990s, the time of the rise of internet, most of the business organizations turned into modern organizations. They made a virtual environment where they could fulfil their needs to compete with of other businesses. In this environment they started using the computer and telecommunication technology to allow the customer contact with the organization. It helped both the buyer and seller to reach their goals.
In this literature the author has also focused on the advantages of virtualization. One of the most important advantages is that the buyer and the seller can response very quickly and can take necessary steps if needed to fulfil the customers’ demand. Another important advantage is trust. In virtual industries there is no face-to-face communication. Because of that people had to become trustworthy. They had to maintain their trust and cooperation with their colleagues to reach the goal. Another advantage of being virtualized organization is to know the market. As because most of the companies were internet based, they could know each other products and the most likely the customers’ demands. As a result they could identify their priority products so that the customers can choose their products. In the other hand customers could contact the customer service if there was any assistant they needed.
Now it can be said that with the help of the virtual market people are able to go

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