Issue:
"Location has traditionally been one of the most important determinants of a business's success. The importance of location is not likely to change, no matter how advanced the development of computer communications and others kinds of technology becomes."
Discuss the extent to which you agree or disagree with the opinion stated above. Support your views with reasons and/or examples from your own experience, observations, or reading.
My Essay:
I agree with the above statement. Although, nowadays there are new and faster ways of communication, location is still important when it comes to business success. Location is important due to the following advantages: personal touch, work efficiency, and convenience.
First, there are people who still like to meet with the potential partner before making a deal. One reason might be because we are still interested in having pleasant partners, agents and want to make sure that we can work together. Let's take as an example a portfolio manager. A family who is looking for someone to manage their investment portfolio usually would prefer to meet that person in advance. This way both parties can discuss about their needs, fees, and strategies much more productively than they would through computer communication. Therefore, in this case, company's location is critical. If potential clients cannot meet and discuss with someone from company, then most likely their business will be lost.
Also, location is important for communication within the company itself. Many times teams within a company work on various projects that ultimately have to embed together. And sometimes the electronic communication is just not enough, like it would be in an architecture project. If an architectural firm is in charge of creating the plan of a grand building then usually there are many teams that are responsible for different parts of the project: e.g. one team is in charge of the first floor with entrance, other teams plan the gardens and the surrounding area, etc. They usually have the big papers with all their drawings and measurements which require visual participation also. The best and most efficient way to discuss, and make decision on their project is through direct meetings.
Furthermore, some companies offer perishable products which require to be purchased by the customer. For example, groceries have to be located in specific areas, usually residential. Although, for a few years we have the opportunity the shop online for groceries, people still prefer to go to physical stores. The main reason is the time - if at the end of the day one wants to cook tomato soup for dinner then it can quickly buy all the ingredients from the local grocery and start cooking. On the other hand, if it will order online, then he or she will receive the order probably next day. Therefore, from timing and convenience perspective, the location of business is also crucial.
In conclusion, I would like to reinstate that in our modern world location is still an important factor of a business' success. Some of the keys are the personal touch between clients and firm, collaboration within the company, and the convenience factor from customers' point of view.
Thank you!
"Location has traditionally been one of the most important determinants of a business's success. The importance of location is not likely to change, no matter how advanced the development of computer communications and others kinds of technology becomes."
Discuss the extent to which you agree or disagree with the opinion stated above. Support your views with reasons and/or examples from your own experience, observations, or reading.
My Essay:
I agree with the above statement. Although, nowadays there are new and faster ways of communication, location is still important when it comes to business success. Location is important due to the following advantages: personal touch, work efficiency, and convenience.
First, there are people who still like to meet with the potential partner before making a deal. One reason might be because we are still interested in having pleasant partners, agents and want to make sure that we can work together. Let's take as an example a portfolio manager. A family who is looking for someone to manage their investment portfolio usually would prefer to meet that person in advance. This way both parties can discuss about their needs, fees, and strategies much more productively than they would through computer communication. Therefore, in this case, company's location is critical. If potential clients cannot meet and discuss with someone from company, then most likely their business will be lost.
Also, location is important for communication within the company itself. Many times teams within a company work on various projects that ultimately have to embed together. And sometimes the electronic communication is just not enough, like it would be in an architecture project. If an architectural firm is in charge of creating the plan of a grand building then usually there are many teams that are responsible for different parts of the project: e.g. one team is in charge of the first floor with entrance, other teams plan the gardens and the surrounding area, etc. They usually have the big papers with all their drawings and measurements which require visual participation also. The best and most efficient way to discuss, and make decision on their project is through direct meetings.
Furthermore, some companies offer perishable products which require to be purchased by the customer. For example, groceries have to be located in specific areas, usually residential. Although, for a few years we have the opportunity the shop online for groceries, people still prefer to go to physical stores. The main reason is the time - if at the end of the day one wants to cook tomato soup for dinner then it can quickly buy all the ingredients from the local grocery and start cooking. On the other hand, if it will order online, then he or she will receive the order probably next day. Therefore, from timing and convenience perspective, the location of business is also crucial.
In conclusion, I would like to reinstate that in our modern world location is still an important factor of a business' success. Some of the keys are the personal touch between clients and firm, collaboration within the company, and the convenience factor from customers' point of view.
Thank you!
