Your Module 1 Readings Provide Insight Into The Impact Of Te

Yourmodule 1readings Provide Insight Into The Impact Of Technology On

Provide insight into the impact of technology on global business. Use your module readings, the Argosy University online library resources, and the Internet to research the impact of technology on global business. Describe how changes in technology contributed to the globalization of markets. Explain how the Internet affects international business activity and the globalization of the world economy. Write your initial response in 300–500 words, ensuring it is thorough, well-organized, and supported by credible sources with proper APA citations. Additionally, review and comment on at least two peers' responses in a minimum of 100 words each, providing substantive feedback, sharing relevant information, and engaging in meaningful discussion. Your writing should demonstrate clarity, proper grammar, and ethical scholarship in source attribution.

Paper For Above instruction

The rapid advancement of technology has played a pivotal role in transforming global markets, fostering greater interconnectedness and enabling international trade and investment to flourish. Historically, technological innovations have been catalysts for economic integration, breaking down geographical barriers, and creating new opportunities for businesses worldwide. The proliferation of digital technologies such as the Internet, wireless communication, and mobile devices has particularly accelerated globalization by facilitating real-time communication, reducing transaction costs, and expanding access to global markets.

One of the primary ways in which technology has contributed to the globalization of markets is through ICT (Information and Communication Technology). ICT developments enable companies to coordinate their operations across borders, manage international supply chains, and access new customer bases efficiently. For example, cloud computing and enterprise resource planning (ERP) systems allow firms to operate seamlessly on a global scale, providing integrated services regardless of geographical location (Czinkota & Ronkainen, 2013). This interconnectedness has led to the emergence of a truly global marketplace where products, services, and capital flow freely across national boundaries.

The Internet, in particular, has revolutionized international business activity. It has democratized information access, allowing even small enterprises to reach global audiences without the need for significant physical presence. E-commerce platforms like Amazon and Alibaba exemplify how online marketplaces have broken down traditional barriers to entry in foreign markets, enabling businesses to sell products worldwide with minimal overhead. This digital shift has drastically reduced the costs of international trade, making it accessible to a broader spectrum of firms, from startups to multinationals (Kraemer et al., 2011).

Moreover, the Internet fosters real-time communication, which enhances coordination between international partners, suppliers, and customers. Video conferencing and collaborative platforms like Zoom and Microsoft Teams eliminate geographical and temporal barriers, enabling effective management of international operations. These technological tools promote cultural exchange, faster decision-making, and improved customer service, further fueling the globalization process (Friedman, 2005).

Technological innovation has also contributed to the emergence of digital global value chains, where tasks are dispersed across countries based on comparative advantage, often driven by technological capabilities. For instance, electronics manufacturing often involves component production in one country, assembly in another, and sales in a third, all coordinated through digital communication networks. This specialization has increased global productivity and economic integration (Gereffi & Fernandez-Stark, 2016).

However, the rapid spread of technology brings challenges such as cybersecurity risks, digital divides, and regulatory hurdles that need to be addressed to sustain equitable global growth. Governments and businesses must collaborate to develop policies that promote secure and inclusive technological advancement (World Economic Forum, 2016).

In conclusion, technological advancements have fundamentally reshaped global business by facilitating international communication, reducing operational costs, and enabling the development of integrated global markets. The Internet, in particular, has been instrumental in creating a connected, dynamic international economy. As technology continues to evolve, its impact on global business is likely to increase, presenting both opportunities and challenges that will shape the future of globalization.

References

• Czinkota, M. R., & Ronkainen, I. A. (2013). International Marketing (10th ed.). Cengage Learning.
• Friedman, T. L. (2005). The World Is Flat: A Brief History of the Twenty-First Century. Farrar, Straus and Giroux.
• Gereffi, G., & Fernandez-Stark, K. (2016). Global Value Chain Analysis: A Primer. Center on Globalization, Governance & Competitiveness (CGGC), Duke University.
• Kraemer, K. L., Gibbs, J., & Dedrick, J. (2011). Whither e-commerce? The evolution of e-commerce in the United States. Communications of the ACM, 54(3), 81–87.
• World Economic Forum. (2016). Digital Transformation of Industries: In Collaboration with Accenture. Geneva: World Economic Forum.