How Has Technology Affected Global Business Essay

Before the arrival of the era of the technology, line of products was through with(p) very inside the four walls of the office. applied science advancement is responsible for like a shots noticeable changes in the field of business, mainly in world(prenominal) business. Nowadays, almost every home and office is equipped with computers that are machine-accessible to the Internet. Most businesses are conducted over personal computers or other converse devices such as handheld devices. It has become easier to access information and engage about developing economic trends and problems as well as heap up data on immaterial exchange market, cultures and policies.The advancement of technology has as well as 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 practiseful tool for international companies. former(a) than that, Schermerhorn, Davidson, Poole, Simon, Woods and Chau (2004) stated that computers leave alone organizations of all types and sizes, locally and internationally, to go transactions and improve decision making.Schermerhorn, Davidson, Poole, Simon, Woods and Chau (2004) also suggested that from small retailers to the large(p) international firms, technology is an grand tool for everyday operation whether it is for stock list checking, sales transaction making, ordering goods or analyzing customer preferences. With internet, video conferencing gouge be used by both parties to see each other virtually on TV or computer screen. For example, in Malaysia we sack up have a conversation with a raw material provider in China and a manufacturer from Taiwan.By using the internet, companies crossways the world washbowl perform research and socialize with partners and suppliers better. This will last lead us to having a better relationship with international suppliers and customers. Next, the beingness of technology has al so caused improvement in the field of the media in the heart of communication. Anyone can considerably access data of a specific foreign partnership with the help of media such as internet, radio, newspaper and magazines. Increased media capabilities can help international businesses improve their productivity through medias mixed means of reaching out to public.Once a companys productivity level increases, profits can also scale up. Other than that, with computers, we can now store dense databases, personal schedules and other important information in the computer without having to store the old and dusty heaps of papers and files in the office. Accessibility of files also has become an easy occupation with series of password keys and shared folders. Cash transactions are easily made, delay in reduced hence giving liquidity to business.In order to save time and effort, we can also now use be software such as UBS to record and process accounting transactions. The shipment of r aw materials and finished products is very important to any business, provided mostly for those with an international scope. Technology of transportation enables a company on one continent to send its raw materials or products to another company in a different continent. Technological advancements in airplanes, cargo ships and railways allow for quicker, cheaper delivery, which impacts business by making global distribution more feasible.Technology has helped in customer service, huge corporations such as Apply and Microsoft image to customer needs through email and chat services. Networking internal and remote in organizations has improved the working of businesses. Staffs and clients likewise can get in touch with the managers for feedback, progress reports and extensions. It is definitely more convenient for customers as they do not need to trouble themselves to walk into a company that they loss to complain or need help from.