The Impact of Web-based EC Revolution on Companies

Explanation:

The statement that the greatest impact of the Web-based EC revolution has occurred in companies adopting the brick-and-mortar approach is False. The impact of the Web-based EC revolution has been profound across all business models, but it has been especially transformative for businesses embracing the e-commerce, or digital, approach. The reason being, the internet has removed geographic barriers, enabling businesses to reach customers on a global scale. With the emergence of 'business-to-business' websites, businesses can now connect with suppliers and buyers from anywhere in the world. As a result, it has increased the degree of competition.

In contrast, traditional brick-and-mortar companies have experienced an increase in competition due to the global accessibility of e-commerce, but they have not undergone as dramatic a shift compared to businesses that fully utilize digital platforms for their operations. Additionally, the web-based EC revolution has also influenced the size dynamics of firms. On one hand, it allows small businesses to expand beyond their local areas, but on the other hand, it may create 'winner-take-all' markets where one large company dominates, such as Microsoft in software or Amazon in online bookselling.