Question

Discuss the effects of various forms of technology on international business. What role does the Internet play? Where is all this leading?

Answer 1

The answer:

International business refers to the trade of resources, products, and services across the national borders.

Forms of technology and their impact on international business:

There are product technology, operational technology, and management technology used in international business.

Product technology affects the methods of satisfying customer needs. For instance, product technology impacts product features, quality, durability, and other aspects. Now the laptops are lightweight and slim, which is the impact of product technology.

Operation technology affects the productivity of resources and reduces the cost of production. For instance, process control technology that supports the operations and monitors the processes to reduce errors and defects.

Management technology affects the adaptability of the business. It helps to enhance the manager’s performance and helps managers to perform their functions. For instance, analysis technology helps the managers to forecast demand and sales more accurately.

Role of the internet:

The Internet plays a critical role in international business. The Internet connects various business operations and processes. For instance, the organizations can receive payment from any part of the world to any bank in the world. Organizations can track the shipment on their systems. Moreover, the internet has made communication between parties easy, fast, cheap, and convenient.

Where is all this leading?

The use of technology and the internet has created different issues also. Due to the internet, work has become easy, but the security of communication is threatened. Cybercrimes are also increased. The technology is leading to identify the ways to protect technology assets, secure data of customers, and protect the privacy of users.