From Local Boundaries to Going Global : New Horizons of Digital Transformation
Over the last decade, the paradigm shift in the use of the internet opened the new market for businesses to flourish worldwide. Business has been reaching a new peak from the local market to worldwide and all credit goes to the digital presence. To engage with customers from all across the world has been much easier for business due to the internet.
In today’s modern world , Globalization – the free flow of ideas, technology, knowledge , goods and services all around the world, has become more evident. Globalization has impacted the business in all the different sectors in a positive way. By expanding across the world, the business has been able to tap the previously untapped market segment broadening their horizon. This particular shift in the digital transformation has led to increased profit for businesses all around the globe.
Airbnb, started in San Francisco as a platform for renting out air mattresses in a local market has now become a global leader branching out to an online marketplace for short-and-long-term homestays and experiences in various countries and regions. By leveraging the power of user friendly apps, targeted digital marketing, and social media engagement, Airbnb effectively scaled its local concept to reach a worldwide audience. Since the company’s launch in 2007, they’ve gone from one rental to 5.6 million active listings and 4 million hosts. User growth has also skyrocketed to 150 million users and counting. This is a perfect example of how business has been able to go global due to advancement of technology.
Expanding globally provides a competitive advantage to the businesses along with attaining economies of scale to make profit. Global expansion of businesses also enhances the business to make a stronger supply chain and capitalize the market trends. However, navigating a transition from local boundaries to global market requires a strategic approach, incorporating localization efforts to cater to diverse cultural preferences and regulatory environments.
In today’s modern world , Globalization – the free flow of ideas, technology, knowledge , goods and services all around the world, has become more evident. Globalization has impacted the business in all the different sectors in a positive way. By expanding across the world, the business has been able to tap the previously untapped market segment broadening their horizon. This particular shift in the digital transformation has led to increased profit for businesses all around the globe.
Airbnb, started in San Francisco as a platform for renting out air mattresses in a local market has now become a global leader branching out to an online marketplace for short-and-long-term homestays and experiences in various countries and regions. By leveraging the power of user friendly apps, targeted digital marketing, and social media engagement, Airbnb effectively scaled its local concept to reach a worldwide audience. Since the company’s launch in 2007, they’ve gone from one rental to 5.6 million active listings and 4 million hosts. User growth has also skyrocketed to 150 million users and counting. This is a perfect example of how business has been able to go global due to advancement of technology.
Expanding globally provides a competitive advantage to the businesses along with attaining economies of scale to make profit. Global expansion of businesses also enhances the business to make a stronger supply chain and capitalize the market trends. However, navigating a transition from local boundaries to global market requires a strategic approach, incorporating localization efforts to cater to diverse cultural preferences and regulatory environments.
