A business is the act of trading a product or a service. When mankind expanded to become a fully functioning civilization, barter system, which was the trading of goods was introduced for the exchange of commodities. It ensured that everyone had what they needed for their survival.
This was the first form of business strategy to be devised by mankind. The turn of the 21st century has reduced everything to our fingertips and now multinational organizations can manage their businesses as efficiently from their homelands on the other side of the world as they would by travelling 10,000 miles to keep a check on the balance sheet.
A Business becomes great when it has a worldwide impact. Its success is visible and there is always a room for improvement. Although the formula for business maybe very simple to comprehend, it can be 10 times as difficult to implement.
Here are 10 business ideas that changed the world.
The Assembly Line
We take it for granted now, but there were times when there was no such thing as a surplus. Everything was done by hand so everything was scarce and more expensive. Thanks to Henry Ford and the Model T, we have mass production in a short amount of time and can now indulge in conspicuous consumption.
Noteworthy example: The setting up of textile mills in the Indian subcontinent during the colonial rule.
It is the act of giving a part of the assignment to a third party. Outsourcing has made developed countries more competitive in the global marketplace because they’ve found ways to cut costs. Meanwhile, supplier countries are experiencing long-term booms in economic prosperity from the incursion of foreign investors.
Noteworthy example: Assembling of Samsung phones in China instead of South Korea.
What would life be like without movies? As an idea, it came about as early as the 1890s, but the first feature-length film with sound was in 1927, with The Jazz Singer.
While not a business in itself, it has paved the way for the globalization of, well, everything! If that’s not a great business idea, nothing is.
It’s undeniable that personal computers (PCs) have made the rat race even faster, which is not necessarily a good thing. But when practically everyone on the planet with running electricity has a PC, I’d say it qualifies as a great business idea.
While the concept of endowing a mobile phone with computing technology dates back as far as 1973, the first truly commercial smartphone came out in 1999 and was produced by NTT Docomo.
Voice-over-Internet-Protocol (VoIP) has taken instant communication to the level of the telephone. Although the technologies are completely different, they serve the same purpose: to connect people on demand.
The idea of using the Internet to allow users to get digital copies of music for free got Napster owners into heaps of trouble, but Apple is now cashing in on the ravenous demand. It’s not free, but it’s on demand, and consumers love it.
Amazon was first to see the potential of the Internet for selling stuff, and they started out with books. Now every commercial website with a shopping cart is asking for your credit card details.
Facebook is not the first one to tap into the potential connectivity of the Internet, but it’s certainly the most recognizable, and the first to make billions in pay-per-click advertisements. #Don’tforgettwitterlinkedininstagram