Urban Economics Essay

605 words - 3 pages

Urbanization

Although modern communications technology has made it easier for people to communicate, urbanization apparently is still available. In the article Behind Instagram’s Success, Kevin Systrom uses telecommunication to carry out the many details of his business to colleagues and potential investors. Modern communication technology plays an important role in Mr. Systroms business because it not only helps his company grow but it also makes it easier for him to transact over long distance without having to travel or having to make himself available for face- to -face meetings. Mr. Systrom also uses the old way of networking. He uses his personal contacts to meet investors, managers, technical experts, buyer and sellers.
UBS, also known as one of the largest Banks in North America, has considered relocating in New York City for many reasons. Relocating in New York City will help the firm succeed by ...view middle of the document...

The geographic location of UBS has affected its profitability because the bank has had difficulty in recruiting professionals to perform high skilled work. For that reason UBS considered moving its headquarters to New York where it would be easier for them to attract more clients.
One of Instagram’s advantages is the density of its environment. It is located in an area where many business people live. Having local business people benefits the company and its investors because local people contribute to the development of innovative products. The output market for Instagram was the sell of innovative software applications for Iphone’s. It introduced a photo sharing application, which was sold only thru the internet. The output market for the company was facilitated because it had many investors and also lots of potential buyers in the home area.
UBS on the other hand needed density for the input market(employees) and the output market (clients). The article talks about UBS employees and how they were very excited to live in New York City. Moving its headquarters to the city would mean less travel time for employees and also more customer satisfaction. Customer satisfaction meant more business and also less traveling expenses for the company.
Instagrams strategy was to attract a talented, motivated workforce that spread out over a limited geographic area. Having employees in different areas will allow the company to grow because it will allow its employees to meet with investor or other business people within acceptable time frames.
Out of the two firms, I believe that UBS appears to have the greatest demand for density. The reason being is that UBS has customers and employees who want to be closer to the bank. Locating in areas further away from the bank will cause employees dissatisfaction, which can possibly lead to employee loss in the future.
Tax incentives offered by the local government were more beneficial to UBS because UBS is a larger company. UBS has over 3,000 employees and would need more land space to operate its business. Instagram on the other hand has only a hand full of employees and only needs to rent a small amount of offices to run its business.

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