In the modern world, business has become a truly global affair. Wherever they are based, businesses can now reach customers across the planet. This is of course mainly down to the invention of the internet and the digital means it has given companies to connect with us easily. All this has accelerated and helped the continued rise of big business in recent times.
So, how do we define big business? It means businesses that are very large in financial terms, that operate globally, have a brand that is internationally recognized and that employ many people. Big businesses make huge profits and sell products and services to many millions of customers. This gives them great power in both a business and social sense.
How does this sort of business benefit our lives?
Some people think that big business is not a good thing, however, there are many factors that show that it is. Why exactly is that the case?
It keeps us more secure online
Big businesses operate across all sectors and a key one is online security. This is especially true for the many millions of us who use the Cloud each day to store our personal data. Big business is a real help here as the solutions it has developed help protect us all when we use online services like the Cloud.
The Charles Phillips led Infor corporation show how this is done with their industry leading Cloud tech solutions and enterprise software applications. Operating in 200 countries across the world and controlling an e-commerce network that deals with $100 billion in transactions annually, they have thrived under the leadership of CEO Phillips. His blue-sky thinking and desire for constant innovation has really helped Infor become the perfect example of a modern-day big business.
One of the most positive effects we see from big business is the jobs it provides. This could be on a local level where a business may have a branch, or a national level where it has many offices or manufacturing facilities across a country that employ lots of people.
A knock-on effect of providing employment is the overall boost that big business gives to the economy of the country. The people who work for them will have money to spend in their region which in turn helps to stimulate growth. It also helps to make the areas that big businesses operate in become more affluent due to the population being in work and enjoying a higher standard of living. In terms of the overall national economy, big businesses pay a huge amount of tax annually to the national Government which it can then spend to help make our lives better.
Help for developing countries
As we have already noted, big business is usually an international affair with many branches in overseas countries as well as main national bases. This can be seen in big brands like Nike that have factories making their goods across the world. Big business can really make a difference in the daily lives of anyone who lives in the overseas locations in which it operates. It not only provides reliable, secure employment but also pays a much higher, fairer level of pay than other local jobs may offer. This stimulus can really help developing countries to grow and have the thriving economy needed to increase the standard of living.
Great for the environment and ethics
This may not be one that you automatically associate with big business but it is true. Modern big businesses have bought into operating in a more environmentally friendly way to protect the planet. This has come about due to more CEO's realizing its importance. This is great for our daily lives as it keeps the planet healthier. More big businesses now also accept their social responsibilities and give some of their profits to charity. This again is a great thing for everyone as it helps people in need and gives charities money to continue their research or carry out good works.
Big business is a force for good in our lives
There is no doubt that big business is something that impacts our daily lives in a positive way. From providing jobs to helping protect the environment or fund research, it really does give a lot back to society. As the digital nature of business connects the world even more closely together, then the amazing ways in which this happens will increase.