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Online Companies - Essay Example
The United Nations Conference on Trade and Development (UNCTAD) (2004), the retail and consumer industry is one of the industries exhibiting one of the highest growths today. At the same time, Murphy (2006) has said that as more companies gain online presence, there are also opportunities for businesses to market themselves with other businesses…
Coupled with the developments in technology, specifically the internet and aviation, and the liberalization of international commerce, globalization is now becoming a reality to many people. One of the most efficient ways to become involve in globalization is through going online, a method that has proved popular and effective for companies of varying sizes and interests.
The primary goal of becoming online is to be able to establish presences, gain access or exposure to markets and to survey or gather information regarding prospective markets. Some companies also opt to go online because their competitors do so. Among countries that have joined the World Trade Organization (WTO), a particular development for companies going online is to be able to take advantage of the liberalization of off-shore investments that they can now attract (Tubbs and Schulz, 2006).
Establishing presence online attracts attention to the brand and the products regardless of where the company is operating. Being online is a statement of a company's adaptation of technology and competency to follow trends (Murphy, 2006). The efforts can be accomplished independently by the company or by participation in third party hosting. ...