Companies can now exist in a digital world
Looking back as far as the Greek and Roman eras, companies, as we know them today, were primitive entities. There were groups of people that worked together for profit. For instance, they caught wild animals or collected taxes for an empire. There was some presence of legal representation of some bodies. Even further back, in India there were organizations that would own land or enter into binding contracts. The oldest company today is the Japanese construction corporation by the name of Kongo Gumi. It was founded some 1400 years ago. These examples were the building blocks for today’s corporations and commerce.
From the turn of the era, up until the 17th century, there was a steady increase and revival of the concept of corporation, especially in the Middle Ages. Many laws and legal groundings were also created during this period. These early concepts and practices gave rise to mass mercantilism, which eventually lead the way towards the industrial revolution. It was a time of movement from the agrarian society towards manufacturing. This time frame paved a path for the creation of a large number of companies, corporations, and other business enterprises. As inventions and commercial product needs increased, so did the demand for the businesses. These companies purchased land, expanded their operations, built, created, and provided services and goods. The corporate era had arrived.
As the 20th century was passing, corporate entities became a normal, well established, and deeply rooted part of society. There was a service or product for just about anything you can imagine. Costs of manufacturing, in most cases, were falling, availability and abundance was rising, and ease of access to all people was sky rocketing. Another piece of the puzzle, though, was about to change the entire business landscape. The advent of the internet was here, and it quickly became the fountain of life and vitality for all, most importantly for corporations and companies. Websites flooded the scene, online commerce flourished, and people began to realize that the best way to shop was on the web. These online entities now had a firm foothold in the one thing that universally connected us all.
Today, there are clearly visible opportunities that might not have been present even just a few decades ago. Companies went from being a small group of people, to a legally formed entities, to a building or manufacturing site, to a customer service arena, to a clean front end website showcasing a major world headquarters for production of goods and services. Now, how about a bit of forward progression with legacy elements? It is time for companies to own digital real estate. Just like in the old world, there was a need for land or building space for manufacturing or customer services. In the new world, a piece of digital real estate is the next logical progression and a futuristic step for all online commerce. With this revitalization comes change, new dynamics, and some implications of success.
When a business is located down the street or even in the same city as the customer, it is convenient. When it is slightly too far from them, this becomes problematic. The internet solves this problem, albeit temporarily. Because of the global reach of a digital city, any inhabitants from around the world can make a home there. This same dynamic is true for the business or company. Now, the customer can live next to the business. This creates an opportunity for customer loyalty, discounts, promotions, and many other important factors. Here, proximity plays a key role. Depending on how far a customer is from a business in the digital city, this could be the determinant of potential rewards and savings.
Ideally, digital cities are divided into various themes. This further allows the brands’ biggest fans and lovers to live in close proximity based on the customers interests. For the ultimate ease for both customers and companies alike, multiple like-minded companies can dwell in the same cities. This not only benefits competition, but also allows the users to find what they are looking for that much easier. Another plus is that businesses will now understand what other businesses are located in neighboring cities. This could potentially forge trading and contracting relations among them. All in all, the door is open to a vast number of new opportunities. This new digital frontier is just another big step in the overall progression of commerce, and societal improvements.
[8/13/2021]
