International Business and the Impact of Technology

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International Business and the Impact of Technology

International Business And The Impact Of Technology

8. A crucial factor in the development of world trade is ease of communications. In recent years enormous strides have been made in the development of global satellite communications, electronic mail, facsimile transmissions (fax) and other products of microelectronic technology. Today, telephone, fax, computer and video links are possible between large numbers of nations. Markets, and information about them, have never been so accessible in communications terms. Thus, bids can be scrutinised, contracts agreed, orders made, and payments confirmed all at very short notice. Such technological developments have also helped international commodity trading and money markets to improve the speed and efficiency of their services to the international trading community, all of which helps to facilitate the growth of world trade. Companies that wish not only to survive but also to thrive in world markets ensure that they take every possible advantage of the increasingly sophisticated and ever-cheaper forms of electronic technology that are available to poorer and richer nations alike. [ International Business ]International Business And The Impact Of Technology
9. Strategic management on a global basis calls for micro electronically-based communication systems, and the skills to establish and apply them. Companies not only have to invest in the new technology as it becomes available but also have to search constantly for the most appropriate software systems and organisational forms for their decision-making requirements. As multi-media forms of communication become increasingly possible, it will soon be feasible for individual directors and their lawyers to conduct negotiations across the globe using video links, computerised graphics and excellent sound facilities. The business world at least will indeed become a smaller place! [ International Business ]