Conclusion

In today’s volatile business environment, it is crucial for business to exploits into different areas of expanding their business through various means, such as, introducing new products or services, adopting new business models, tapping on the power of technology to globalise the business through e-commerce or setting up an information system to strategise on the business dynamics, etc, in order to achieve substantial growth and competency, so as to stay competitive and to survive in the industry.

With OnlineShopping Singapore adopting e-commerce, it allows them to cut down on transaction cost thus keeping themselves on the competitive edge. The power of technology replaces manuals and paper-based procedures with electronic alternatives which reduces time and cost needed for booking keeping for example.

As more and more businesses join in the growth of electronic marketplaces, it will come to a situation where perfect knowledge on products become possible. Therefore reducing bounded rationality and information asymmetry in the future. At that point of time, would you know where to get a foldable keyboard?