Importance of Global Business There are various benefits of the global business. Some of them are as below 2.1 Huge Customers Global business means expanding business globally which helps them to provide connection and link it with other business parties. Burton states, its expansion helps to attract huge customers who enjoy its product and helps to grow faster around the world. Global firms start studying customers need and their preference in order to open its branches in host countries which help them to attract huge customers (Burton, 2017, online). 2.2 Higher Sales, Higher Income According to Anderson, global businesses have their companies in many countries and they distribute goods and services worldwide.
In a similar context, WooCommerce themes have been developed which is a great theme that can offer optimized offerings. Today, e-commerce is one of the main money-making methods for businesses that want to move their operations to the online. That’s likely one of the reasons why the community of web developers made e-commerce possible on WordPress too. Nowadays, e-commerce is vitally used for making money online and most of the business are thriving on the same concept. And therefore, this is one of the important reason why developers have brought WordPress in limelight.
Electronic business (e-business) can be defined as the use of the internet to network and empower business processes, electronic commerce, organizational communication and collaboration within a company and with its customers, suppliers, and other stakeholders. E-businesses utilise the internet, intranets, extranets and other networks to support their commercial processes (Colin Combe, 2006). Companies go online to engage in advertising, buying and selling of products and services. Due to the increased competitiveness in the hypermarket industry, the adoption of e-business has helped companies gain a competitive edge over their peers in terms of reduced costs, increased revenue streams and greater customer satisfaction. Operational costs such
Globalization is a small term after all, but has a broader definition acting as a catalyst to progress and growth transforming the world in general. The concept of globalization is not something new for most of the people as this is gaining momentum in today’s era. Globalization has resulted in interrelation and assimilation between world economies and business. Globalization in general has a significant role in advancements of a country and improving the lifestyle of people. In the business world, the benefits of globalization are not just limited to profit maximization, but also provide other advantages equipping business to carve a niche for itself in today’s highly competitive market.
Among a number of advantages that the Internet brings to customers, firms, organizations and communities, web 2.0 is the most remarkable factor for long-term survival and successful business (Jaokar et al., 2009). Web 2.0 consists on the rising of social media and the way of information sharing. While in the past, the information was transferred by only website owners and customers received it passively, nowadays, both users and website owners can interact together and update their information on the Internet. Dewan and Ramaprasad (2014) stated that the predominance of social media are taking traditional channels away because it offers not only the same job that traditional media used to do but also a better way of customer-firm communication. On the one hand, customers can perceive more information provided popularly over the Internet, which is about the products or service they tend to use.
Business Advertisement Business advertisement brings profits in sales. The key goal of such advertising is to convince the potential buyers to purchase manufactured goods and services. There are various avenues through which the customers get information about the true marketable products and services. These are television, radio, newspaper, magazine and recently online advertisement. The truly marketable product brand has now brought forth a novel integrated tactic that proves rewarding.
This implies that supply chain combines supply and demand management within and across companies. Organisations achieve competitive advantage through efficient and effective supply chain management which enhances companies’ performance and adds value through increased asset utilisation. Many companies are moving towards collaborative supply chain indicating that every participant of the supply chain are coordinating their activities and efforts in some way to reach their objectives which is the satisfactory supply to the consumer. There has been significant transformation to the world of business by a number of powerful forces, such as the advent of internet, new opportunities on the world market which have brought many organisations to revisit their supply chain systems. Customer needs for variety of product at reduced cost together with flexibility in obtaining it are forcing organisations to reconfigure their supply chains to meet those
The reasons for this are related to the quantity and dissemination of information provided on the Internet and the wide public access, high levels of competition and the entry of new players with a lot of websites, supported by efficient transaction services. Clayton and Criscuolo (2002) claim that the technology accompanied by a modern information society , especially through the Internet , has caused four key changes in terms of the ways in which business operates today. These changes, which are applied widely in the tourism sector, are: 1. The ability to turn ideas into marketable innovations for a wide range of customers, with reduced costs in terms of searching process, as well as the costs of access to new markets 2. Increasing the speed for trading and promoting new product offerings via the Internet.
Location brings more and more customers to he store and increases the sales hence resulting in productivity. Simultaneously entertainment factor has also become very important in today’s world. It is a technique to attract more customers and also a way to gain competitive advantage over other similar stores. Another Mall in Dubai that has also worked on the principles of entertaining the customers and choosing a good location is the famous Mall of Emirates. This mall is also located very near to the Sheikh Zayed Road which makes it very convenient to visit it.
Facebook is the most popular and interesting SNS among businesses to use for promotion purposes. This SNS provides features that businesses and advertisers can use to target their market, because it allows access to demographic Information of its users (Roberts, 2010). Besides this, there are several reasons for businesses to get involved with SNSs. Using social networks as advertising tools is cost efficiency and can reach a larger group of possible consumers (Todi, 2008). Advertising in SNS is cost efficient, because first of all, the use of social networks is free.