The Internet has penetrated many aspects of business and culture in developed countries, but there is limited availability in many poor countries. Do you think that this technology is going to widen the economic development gap between rich and poor countries? Is there a way that developing countries can use such technologies as a tool for economic development? Justify and illustrate your arguments by referring to appropriate case study examples.

Table of Content

1 Introduction 2 2. Present Uses of the Internet 3 3 The Use of Internet in Developed Countries 4 4 The Use of Internet in Developing Countries 6 5 Internet reduces the Economic gap between Developing and Developed Countries 7 5.1 Case Study Analysis – Case of Nigeria 7 6 Internet as a tool for Economic Development in Developing Countries 8 6.1 Internet and e-commerce produce greater Economic benefits to the firms 9 7 Conclusion 10 8 References 10

1 Introduction

Globalisation of business, trade and economy has transformed the world into a single society of similar perceptions, where the information is accessible by any person from any corner of the world. Use of new communication technologies like internet has incremented the pace of globalisation processes in various dimensions (Anakwe, et al., 2007). The internet has rationalized the business processes facilitating the notion of the e-economy. Companies have recognised the requirement of joining in the e-economy revolution, which is seen vital for them to survive in a highly vibrant and competitive global market environment (Financial Executive, 2005). This has given way to the creation of various forms of business and employment such as e-commerce, e-business, virtual workplace etc. (Stephens, 2001). These new business forms brought superior benefits to the