Question

Analyzes the influence of technology in the global expansion and success of a company or industry of your choosing. Your analysis should include the following elements:

• A description of at least two of the technologies that have most affected the company’s or industry’s global expansion
• An analysis of how the technologies have facilitated global expansion
• An analysis of how the technologies have changed the competitive environment, both internationally and domestically
• A discussion of at least two lessons learned that you think are most pertinent for companies in the industry that you are most interested in and why you think they are important

Answer 1

                                Technological advances are always directly related to the expansion of an industry in general and a company in particular. The advancement of technologies has been visible in almost all the sectors of industrial processes. In the manufacturing sector, the introduction of various machines and technological processes have caused it to be more efficient which has caused an improvement in the output of various industries. In the supply chain mechanisms, the advancement of technology has been instrumental in reducing the losses in transmission and distribution of products with the help of various aids like maintenance of cold chain for the movement of vegetable and processed goods. The introduction of various internet platforms has made the sales simpler which also has resulted in the improved performance of various companies.

                       

                                    The two major technological advancements that has heavily influenced the global expansion of market for various companies are

(i) Introduction of various e-commerce sites like Amazon, Flipkart etc in the sales sector and trading via digital platforms like Upwork, Freelancer etc which would help the company to meet with various people working online

(ii) Blockchain management and Artificial Intelligence

                                    With the introduction of various e-commerce platforms, it has become possible for a company to sell its products anywhere in the world at lower prices which would help in the global expansion of that particular firm. Moreover, it would be also possible for the firm to sell various products in accordance with the regional demand which would help the expansion of the firm. With the help of Blockchain management, it has now become possible to do international trade with lesser losses which has been instrumental in attracting many firms to prefer for more international trades which has helped in the expansion of the firm. Moreover, Artificial Intelligence has been able to identify various market structures and possible losses of the firm on a global scale and hence has helped in the expansion of the firm.

                                    The competitive environment has also been transformed on a global scale with the advancement of technologies, both internationally and domestically. With the aid of technology, most of the bigger companies have gained the advantage over many small firms that are not able to afford such technologies. With more production, competition has been raised as to which company would be able to sell the produce at lower prices so as to get an advantage in the market. International and domestic trade patterns have undergone a transformation with the introduction of various technologies which has made changes in the consumption patterns of the society thereby facilitating a competitive market mechanism.

                                    Thus, it has become important that rising companies should invest some capital on technology establishments in manufacturing and sales so that it is not left behind in the market which is dominated by various technology giants. It is also to be understood that an optimal mix of technology should be done with the work force so that the labour requirements are also met along with making advantages of the technological advancements.