Technology has played a very important part in bringing about globalization.

It has assisted us to become a closely knitted global village. Businesses, no longer stay within their demographics, they able to compete at a global front. Products are able to reach consumers cheaper due to these improvements. When we mention about technology assisting us in globalization we have to talk about the arms of technology that have assisted us to reach there. They would be microprocessors, tele communication, internet, World Wide Web and software’s. Micro processors and telecommunication Micro processors and tele communication have become ideal partners in the current technologically driven global economy. Micro processors are able to deliver high power and lower the cost of computing. This allows individual and firms to process large amount of information at a fraction of time. Whereas the global telecommunication have also revolutionized, to complement the computing technology with, the development of satellites, optical fibers, wireless technologies and internet. No longer is the telephone line used for analog communication but, it has been used for sending information to other parties who have access to such services. Internet and World Wide Web Internet is associated with World Wide Web (www). Internet is considered to be the super highway for information. The usages of www have been increased tremendously. Almost all companies use them. Internet can be used to source and get information regarding products and services offered by others. We are able to send and receive emails, which instantaneously connect the world and gone are the days when you send mails the traditional manner. Internet has helped in cross border trade and has assisted to reduce constraints of location, scale and time. An individual is able to work from anywhere with his computer and able to monitor, source and do his daily work by transmitting files and e-mails via internet.

We are able to share files between computers which are compatible. Transportation technology There have been many major innovations in transportation technology. super freighters and the introduction of containers are some to be mentioned. Production was dispersed to geographically separate locations became more economical. Containerization has reduced cost significantly. The real cost of information processing and communications have declined drastically. Businesses are able to create and manage a globally dispersed production system. Thus they are able to facilitate the globalization of production. With the software’s we are able to use logic able to assist in decision making process at a fraction of time compared to do it manually.Software’s Software’s are scripts that have been written for specific systematic understanding for the computer. Implications of technology on global production Due to technology. Microsoft office programs which are saved in Mac computers could be retrieved and used in other operating system so long they have the software’s. Air freight is used to carry products which are urgent. The internet has . Most of the cargo which moves around the world is carried in containers. The development of jet aircraft. The standard packagings of containers have reduced the need for more labours to do manual jobs and crane could do it faster. has short life cycle or highly sensitive. Technology advances have assisted for companies to move the products from their countries to other parts of world cheap. transportation costs associated with the globalization of production declined. This has led to vessels to increase in size so that they could carry more cargo and able to give shippers cheap slots by utilizing economies of scale.

Effect on the businesses if there is no technological advances Globalization of markets and production would not have been possible without the technology advancements that we have achieved. where it is cheaper. EBay is one such place where you can put out your wares and sell it anyone at anywhere in the world. The low cost of global communication networks such as www are helping to create global market places. There would not be much cost saving and the services would be slow. But there are still some national differences in the global front. Therefore operating costs could be reduced. The modern communication system and improved transportation technologies play an important part in ushering the term global village.had a major impact in facilitating international trade and services. We would not be able to cover such a big ground. The development of commercial aircraft has given a helping hand in knitting the matrix of worldwide operation of many international businesses. This has helped to reduce the cultural distances between countries and bringing about some convergence of customer tastes and preferences. Only a few multi national companies with very good infrastructure and great influence would be able to do it. small and medium enterprises are able to pry into the global market place. Hanjin shipping has diverted all their keying in of bill of lading to port klang and Hewlett Packard has moved its accounting arm to India. The current trend is to have all the services related to products to other geographical locations. Implications of technology on globalization of services Technological advancements have made it possible for services globalization. Technological innovations have facilitated globalization of markets. The word global village would never be in existence and efficiency . These are a few examples on diversification of services. No longer is the global front only for the multi national companies. The implications of technology on globalization of markets.

Technological advancements.would have been slow. If our suppliers charge us more we would not be able to weigh their cost against other quotations as we would know others. The American sub prime crisis is one fine example where we can see the whole world is having an effect. . In regards to correspondents we would have taken ages to come in terms with the buyer and suppliers when we are using the traditional postal services. Companies would have only concentrated within our demographic boundaries as we would not know much about trading practices elsewhere. Increase in oil prices. Companies would only know the suppliers that are serving us now. have helped mankind in their pursuit for trade beyond their borders. is another example where we can see and gauge that the world is closely knitted. Any effect on one economy will affect other economies too. Companies would not be able to source for cheaper alternatives for services and products. In other we would have produced a product which does not reflect the optimum cost of production and companies would have charged more. government encouragement and the existence of international bodies governing trade.

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