The Internet is everywhere. It enables connections, provides information, and helps take actions and make decisions. The Internet of Things set in motion a new way of interconnecting devices, not only people but also creating new opportunities, disrupting transportation, medicine, manufacturing, retail, entertainment, social and political scenarios, and ultimately transforming the world in many ways.
When it comes to business, global business runs because of a contract – buying, selling, hiring, leasing, renting, insuring, acquiring, merging – everything runs because (and according to) of the contracts behind them. When it doesn’t, it brings long term adverse impact on business, brand, commerce, quality, and customers. What brings relationships together and builds trust is the contract between parties that transact with each other – when the risk and reward for both parties make sense.
And they are deeply connected – a new car model launch plan triggers on average 15,000 contracts – with suppliers, partners, dealers, marketers, customers. The launch triggers hiring and contracting, not only with the manufacturer but also its partners; the ad campaign triggers more VMs in search engines in a specific geography, in turn resulting in additional data center contracts; sustainability contracts to replace older parts and models, triggers hiring in an ad agency in China, a paint shop in India, a leather procurer in the Philippines; the list is endless. These repercussions reach far, and in a connected world, reach globally. In fact, these relationships taken together can be the foundation of global commerce.
Continue reading: https://www.outlookindia.com/website/story/business-news-how-the-internet-of-contracts-will-define-a-new-era-of-business/405026
When it comes to business, global business runs because of a contract – buying, selling, hiring, leasing, renting, insuring, acquiring, merging – everything runs because (and according to) of the contracts behind them. When it doesn’t, it brings long term adverse impact on business, brand, commerce, quality, and customers. What brings relationships together and builds trust is the contract between parties that transact with each other – when the risk and reward for both parties make sense.
And they are deeply connected – a new car model launch plan triggers on average 15,000 contracts – with suppliers, partners, dealers, marketers, customers. The launch triggers hiring and contracting, not only with the manufacturer but also its partners; the ad campaign triggers more VMs in search engines in a specific geography, in turn resulting in additional data center contracts; sustainability contracts to replace older parts and models, triggers hiring in an ad agency in China, a paint shop in India, a leather procurer in the Philippines; the list is endless. These repercussions reach far, and in a connected world, reach globally. In fact, these relationships taken together can be the foundation of global commerce.
Continue reading: https://www.outlookindia.com/website/story/business-news-how-the-internet-of-contracts-will-define-a-new-era-of-business/405026
