Nowadays, lot of business deals , negotiations and communications are being carried out online. Do you think it is a positive or negative development.

Nowadays, lot of business deals , negotiations and communications are being carried out online. Do you think it is a positive or negative development. Write no less than 250 words with examples from your own experience.  

Ielts Essay Online Business Deals 

With Information technology penetrating almost every walk of human life, people have started negotiating business online. This, as per some, is surely laden with numerous benefits despite others raising citing failings of this emerging trend.

Those vouching for this new way of conducting business feel that this is helping businessmen save precious time – wasted otherwise in arranging meetings and travelling – which can now be allocated to more an essential task concerning business. People now, hardly need to travel physically to cities and towns across the world to close the deals. What they simply need to do is interact with their counterparts through emails, video-conferencing, social media, and specialized facilities that help them enter into agreements in real time virtually.  

Moreover, this innovation has also assisted in saving money and raising profit margins, which are shared mutually by both the negotiating organizations: virtual conferences and negotiations let businesses forego the need to fund travel; arrange expensive venues to schedule face to face meetings; and entertain visiting delegations. To add to that, this way has also helped eliminate middlemen, who used to charge exorbitantly  for their services, and save money extended to them as commission.

However, opponents of this new way of dealing point out at the darker side. Online transacting and negotiations are vulnerable to instances of outright fraud and misrepresentations. It has been, if not often, experienced that businesses tend to fall prey to the dubious deals, due to their counterparts concealing vital facts; thus  jeopardizing the future of deals, as well as the business.

Henceforth, even though method deliberating business online is evolving as a convenient way, and is there to stay, it is hard to ignore the hazards associated with it. One needs to be quite judicious interacting with business counterparts through internet.