The improved levels in communication for example the Internet globally; this has allowed a lot of companies to outsource telesales and administration, reducing their cost. FDI The growth of FDI has accompanied the rise of globalisation. The benefits Investing overseas can
Globalization and technology are two important economic factors that have made the world a smaller place as now it is much easier to communicate and know about other countries. This has enabled people to gather a lot of information and in turn be able to visit places for various purposes including education and occupation. Globalization has greatly benefitted a number of developing countries, through international trade as well as providing them with a number of opportunities in the form of outsourcing and information technology plays a major role in having enabled this. Information and technology are great enablers of globalization. Globalization has changed the face of trade and commerce all over the world and the developing countries are the ones who have greatly benefitted out of this.
In my point of view, the advantages of the globalization are far more than the disadvantages. John Baylis defines a globalized world is one in which political, economic, cultural and social events become more and more interconnected and interactive, and also one on which they have more impact(1). (John Baylis, Steve Smith, Patricia Owens. The Globalization of World Politics) with the globalization penetrating all of our life, various separations of impacts have deeply and intensely interconnection and interact upon each other, as a result of which the economy gives impetus to the politic and the revolution of culture and society. Communities having been in progress, the economic base determining the superstructure, globalization in the world is the trend as unstoppable as the wind.
It shows how information being shared rapidly, within seconds, can transform the world, by bringing all forms of social, cultural and political functions together into one global village. Mcluhan’s concept has highlighted how globalization has influenced our culture. For many, the impact of global communications is the global village, because of the increased contact between cultures, identities and views across national boundaries. Global communications play an extremely important role in the cultural dimensions of globalization. The term refers to the use of new information communication technologies such as the Internet, mobile phones, e-mail, and satellite TV.
The internet provides more communication, and allows firms to operate annually. Air travel achieves connectivity as larger aircraft such as the Airbus A380 and Boeing 747 can carry more passengers and provide cheaper flights and global tourism. GIS/GPS satellites allow information to pass around the world. Rail increases more connectivity such as high speed rail link such as the TGV in France, and the Japan bullet train makes travel much faster. All these factors ‘shrinks’ the world and makes it more connected.
Also many companies today are created on the internet and built up upon it and need it to function. Most companies today use the internet everyday and rely greatly on its numerous uses. Companies save millions using the internet because they can save money on many things such as advertisements cost today. It costs 90% less to have an advertisement on the internet that it is to make a billboard or place it in the local newspaper. Also, many more people today are always on the internet and the advertisements get across to more people at a cheaper cost.
It allows us to communicate around the world, find answers online through the internet, transportation, medicine; technology is everywhere. While the expansion of technology is astonishing, many people have become completely reliant on what technology can do for them, instead of what they can achieve for themselves. Technology was once an exciting additive to our world, but slowly it has transformed into an essential component to our lives. As technology continues to improve, it has begun to replace our existing human abilities. The extent to which technology has improved in the past century allows everyday answers to be found much more quickly and easily then was possible in the past.
Therefore, globalisation through the digital age and transnational corporations can have a powerful influence on the reduction of inequalities, but can also cause inequalities to rise. Globalisation and the digital age have a strong relationship, and in some sense, they fuel each other. The digital age has meant the introduction of the internet, many social networking sites and knowledge based search engines such as Facebook, Twitter and Google. They have led to a faster growing rate of globalisation which has now made it easier to transfer knowledge and news around the world in a matter of seconds. This can be seen recently, in the Arab Spring, in which Egypt’s uprising was greatly influenced, caused, and widened by the social networks Facebook and Twitter.
Internet as a technology The internet is full of opportunities. It gives companies the opportunity to expand into new markets, offer new services, to compete with larger companies and to improve the competitiveness of the company (Chaffey et al., 2003). In contrast, customers have a more readily available medium that is convenient, easy and private. It provides greater product access and selection and there is a wealth of comparative product information. Now a day communication’s biggest physical barrier is distance that has been removed to high level especially by popular subset of Internet i.e., World Wide Web (Kiani, 1998).
Now, faster connectivity such as mobile and fixed broadband which is available to all users at reasonable costs is widely used. This in the long run increased the use of the internet for commerce. A first wave trait that has evolved a second wave characteristic is the type of technology incorporated into the business to business commerce with the use of bar codes and scanners to track parts, inventories etc. Haplessly, these technologies were not well integrated and also