The evolution of the B2Bs as a power tool on internet to get business.
According
to Superbrands, an organization which evaluates brand equity, in a survey
compiled by a council of senior business leaders and 1,500 independent
professionals; search engine Google is the brand which has made the most impact
on the UK
business sector. Google topped the poll of 500 brands by scoring highly in
terms of quality, reliability and distinction. Interestingly, Microsoft was
next in rank in the list, again another IT firm. These two IT companies leave a footprint
among the top brands with few years of their existence, as most of the 500
companies in the survey are older than 50 years. This validates that internet
has become indispensable tool in day to day business of consumers.
Popularity
and user-friendliness of the internet has encouraged businesses to utilize
these services to the utmost level. As businesses began to use the internet,
there arose a need to do business by just sitting in one's office. Traders
initially communicated with their own existing networks to do business, but
while the self network directory exhausted; they have had to search for new
related traders for expanding, diversifying or for even sustenance. The
transformation of ordinary international export-import directories into
Business to Business (B2B) portals provided interactive business opportunities
to traders around the globe cost effectively. The arrival of B2Bs scripted the
beginning of a new era in the world of business in no time.
At a
glance, any market is largely run on business to end-user terms, but
surprisingly in the whole circle of business, one can see many points of
contact. These contacts make great opportunities for business to business
maneuverability. And that is the very reason why B2Bs have become instant
successes. For example if one looks at
the chain of actions in business, assumed to begin from a sourcing unit, then
to manufacturing to go-betweens to end-user to reclaiming to recycling and it
goes on until it reaches the assumed stage. Among these stages business to
consumer is just one of the stages whereas all other phases are business to
business. Therefore, by interpreting the given example one can see business to
business has more potential than business to end-user. On that premise, B2B
portals have tremendous potential to become an international trading tool to
traders from any where in the world.
The
performance of Google as well as Microsoft is a clear indication that world of
business is tilting towards internet related businesses. It goes without saying
that businesses cannot survive without internet services and the concept of
B2Bs will drive next level of growth in the world of business by providing
equal business opportunities to traders regardless of their size or region.
Recent developments in B2Bs by rendering services that of business to consumer
gives an impression that they will further evolve as portals of comprehensive
business solution to one and all irrespective of being a trader or not. Hence,
to displace Google and Microsoft from their current positions in Superbrands
and other brand equity evaluators by leading B2B portals in near future is not
a far cry from reality.
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