Why Does Geography Matter In Business?

Geography is the study of Earth's surface and the physical features of our planet. It is the foundation of business. It's where you are, what's around you and what you can do to make it better. Businesses have always been affected by geography, but today's companies are more sensitive to its impact than ever before. The digital economy has increased globalization and made it easier for companies to access markets across the world. At the same time, technological advances have made it easier for people to connect with each other through social media platforms like Facebook and Instagram.

Geography matters in business because it helps you understand where your customers and suppliers are located, how to minimize transportation costs, and how to best take advantage of the natural resources around you.

Geography also helps businesses understand their competition. If a company sells products in South America, it needs to know whether its competitors are based there as well. This knowledge will help them determine how much money they need to spend on advertising or other promotional activities.

A company's geographic location can affect its ability to attract talented employees. It also determines the type of people you may be able to attract to work for you. For example, it may be easier for an employer in California or New York City to recruit employees from those areas than from Kansas or Nebraska. In addition, many companies value diversity among their employees, so they may be more likely to hire someone who lives close by than someone who lives far away.

Geographic location can have an impact on pricing decisions for goods and services sold by a company. For example, if there is a shortage of oranges in California due to drought conditions affecting production there, prices might rise sharply throughout the United States as consumers try to get more oranges before they run out altogether.

Geography can also determine how easy it is to do business with other countries. For instance, if you're looking for a supplier in China, you'll need to know if they have a business license, what type of currency they accept and whether they have any restrictions on exporting goods.

Geography also has an impact on taxes. This is especially true when it comes to international businesses that sell products in different countries. Not only will you need to know where your customers are located, but you'll also need to know where your suppliers are located so that you can determine what country's tax laws apply when selling products in each country.

Finally, geography can affect how much money your business makes. For instance, if there's a new trend in technology that takes off in Silicon Valley but not New York City (where most of your employees live), then your business will lose out on sales opportunities unless you find ways to get involved with the trend or take advantage of other opportunities like providing consulting services or research services.

Geography continues to be a key factor in how companies operate. As new technological trends emerge, the role in business strategy would remain dominant over the next decade or two.