How Has Technology Affected Global Business

Only available on StudyMode
  • Download(s) : 403
  • Published : April 15, 2012
Open Document
Text Preview
Before the arrival of the era of the technology, business was done very inside the four walls of the office. Technology advancement is responsible for today’s noticeable changes in the field of business, mainly in international business. Nowadays, almost every home and office is equipped with computers that are connected to the Internet. Most businesses are conducted over personal computers or other communication devices such as handheld devices. It has become easier to access information and learn about developing economic trends and problems as well as gather data on foreign exchange market, cultures and policies. The advancement of technology has also made it easier for businesses to deal with foreign investments. Furthermore, technology has changed the way we deal with business matters. The internet has become a very useful tool for international companies. Other than that, Schermerhorn, Davidson, Poole, Simon, Woods and Chau (2004) stated that “computers allow organizations of all types and sizes, locally and internationally, to speed transactions and improve decision making.” Schermerhorn, Davidson, Poole, Simon, Woods and Chau (2004) also suggested that from small retailers to the big international firms, technology is an important tool for everyday operation whether it is for inventory checking, sales transaction making, ordering goods or analyzing customer preferences. With internet, video conferencing can be used by both parties to see each other virtually on TV or computer screen. For example, in Malaysia we can have a conversation with a raw material supplier in China and a manufacturer from Taiwan. By using the internet, companies across the world can perform research and socialize with partners and suppliers better. This will eventually lead us to having a better relationship with international suppliers and customers. Next, the existence of technology has also caused improvement in the field of the media in the means of communication. Anyone can...
tracking img