Better Services 3.

Technology can reduce the prices of things due to productivity and efficiency. 4. Technology is the driving force of globalization. Moreover, business organizations have also made possible the exchange of cultures and ideas across the continents. Some of the advantages are: Another language added to many peoples vocabulary. Globalization has had numerous effectsboth positive and negativeon business and society at large. Scale Technology allows products and services to be produced at great scale to provide goods for large populations. Following are the advantages of Green Technology: It does not emit anything harmful for the environment. Second, it enhances international competitionincluding as a result of the rise of emerging market firmsand this strengthens firms incentives to innovate and adopt foreign technologies. Incorporated as a not-for-profit foundation in 1971, and headquartered in Geneva, Switzerland, the Forum is tied to no political, partisan or Social media connects almost half of the entire global population.It enables people to make their voices heard and to talk to people across the world in real time. Improvement of Infrastructure: Governments can deliver their services to the people more efficiently owing to the advancement of infrastructure. Increases Business Opportunities For businesses, an increase in global communication means new business opportunities. The rise of social media has encouraged communication, and the use of Facebook, Twitter and many other social networking platforms has allowed culturally diverse people to connect with each other. 1. 1- Discoveries in all industries. The boost in economic power. Drawbacks of Globalization 1. 2. Improving Communication and Collaboration. Think Global: Seize Opportunities. This means they can serve clients who are even in other countries by using emails, social media, and video conferencing tools. Saves Time. Global language is used in business and worldwide. Almost 99 percent of people today have finished their studies and achieved decent jobs. Under globalization, many countries concentrate on producing products or even processes in which they have comparative advantages.For example, countries with a larger population can focus on labor-based production, while countries with advanced technology Extensions of Market Disadvantages of Globalization 1. The World Wide Web, abbreviated as www has made the world a social village. It has become popular as consumers of the technology are becoming more environment conscious. Some major Benefits of Globalization and Technology. It has enabled trouble-free communication during a business meeting or in the middle of a business production process. The Internet became an integral part of doing business, changing the way transactions are made between individuals and companies worldwide. There would be a surge of employment in the places of the world where the cost of living is lower. When the U.S. competes with less-developed countries, its big advantage is its access to capital, whereas less-developed San Marino has one of the oldest democracies in the world, the lowest unemployment rate in Europe, and no national debt and arguably no global identity. There are many different advantages and disadvantages of global language. Growing Inequality 2. It assists the companies in gaining competitive advantage by buying cheap raw materials and labour from abroad or manufacturing in other countries where operating cost is low. The technology today allows the people to achieve clear and continuous communication with their family or the VIPs in different countries. The first decades of the 21st century opened the doors to instant communication to anywhere in the world. This first argument against globalization is the one that surfaces most frequently in U.S. political discussions about NAFTA and other trade deals. Advantages of Globalisation. Technological advances allow people to find a more efficient way of doing things, and these processes deliver positive results. While the advantages of globalization and technology are evident in enhancing the good life, their challenges are equally evident. Globalization is accomplished through the use of technology, as well as through trades and investments made internationally. Some major Benefits of Globalization and Technology. Increased standards of living. This is 2. Electronic communication helps to make the world a smaller place by making news stories more accessible as well, by increasing the amount of international news people have access to. The Advantages of Globalization. 0. Affordable Products 8. Globalization is essentially the means by which individuals, governments, companies, and countries interact with and affect one another, with the goal of helping to build strong alliances that mutually benefit one another. 3. Users on the social media are now becoming global people. Free Language Second language Lingua franca. employment, lower prices and higher standard of living. Technology increases business capacity. Improving For businesses, the Have you ever faced navigation problems in an unfamiliar town? For example, education has made great strides in technological advances in computers. Access to New Cultures.

It goes without saying that it is a lot easier to talk quickly using apps than more old-fashioned methods, like telephone and fax. The common work environment today is totally dependent on computers. 9 Advantages of Globalization 1. Transfer of Technology 2. Using workplace technology advantages, it is possible to speak to people in real time, whether that be over a messaging app or via video call on your PC, tablet or even interactive display.. Companies in smaller countries, such as Germany and Japan, have long known that in order to grow they must look externally for opportunities. Globalization enhances the economic prosperity and leads to more efficient allocation of resources, which, in turn will result in higher output, more. Information Technology or IT mainly deals with computer applications. There are a variety of apps that are great for internal Economic Growth 7. At no other time in human history has the exchange of goods and ideas been more prevalent as it is today. Just like the two sides of a coin, Technology also has two sides to it - pros and cons: Pros - 1) Facilitates long-distance communication 2) Valuable Research Tool 3) Easy Access to Information 4) Useful for Gathering Important Data- eg. Statista maintains that the global big data market will grow to $103 billion by 2027, with the software industry leading the Big Data market with a 45% share. Globalization is the spread of business activity (products, services and people) across international borders. For example, a factory that washes and packages 200,000 pounds of fruit a day with automation and a few dozen workers. Globalisation is a process that has several advantages. Development of Infrastructure 5. Easy access to the internet is also the advantage of globalization. about the resulting outsourcing and off shoring, which have destroyed the American. Provision of rewarding opportunities. Globalization also ensures the participation of every country to uplift the world GDP growth. Technology is necessary to solve our global problems. Enjoying the good life is the ultimate goal of existence. As technology lowers communication barriers, it is easier for companies to see and take advantage of opportunities in a global marketplace. Speed of response Things change quickly within global mobility. One of the advantages of technology in international trade and other areas of the economy is the ease of communication and collaboration across geographical distances and time zones. Technology will always be a main tool when it comes to solving problems on a global scale. The development of the internet and easier means of communication and collaboration propelled us from those early days of globalization to where we are today: A few taps or clicks away from a co-worker, business partner, customer, or friend. Easier International Trade With digital technologies we can speed up customs at nation-state borders, move money more efficiently and even move goods faster as Increased productivity and general output. The worlds banking systems have also benefited from the ability to instantly transfer funds, simplifying long-distance transactions. 11. More students have access to education with the ability to complete work from home. This aspect consequently improves the lifestyles of the people using the machines (Rifkin, 2003, Spiritual Perspectives on Globalization, p.176). Students are able to learn on a global scale without the need to leave their classrooms. 4. Communication becomes easier because people may communicate with this global language. Think Global: Global Workforce It is because, information technology is important in global business to create the competitive advantage. However company should continually innovate their product because the competitors always find many ways to create the product with greater value to attract the customers. Speaking of the advantages of economic globalization, the first advantage is the higher production efficiency. Yes, we all have faced such issues when we 3. Supporters of globalization argue that it has the potential to make this world a better place to live in and solve some of the deep-seated problems like unemployment and poverty. But those who decide to take on international expansion find several benefits, including: 1. It has made life simpler but the hazards of cyber threats have arisen and have reached to an extreme level. The main advantage of this development is that it has drastically improved the quality of work done while reducing the amount of time spent doing the same. Ease of Access to Information. First, globalization allows countries to gain easier access to foreign knowledge. The World Economic Forum is an independent international organization committed to improving the state of the world by engaging business, political, academic and other leaders of society to shape global, regional and industry agendas. Consider the emergence of mobile banking in Kenya or the practice of microlending as examples. Information technology is important to global business because it can make the businesses able to have a clear communication within the companies in different countries, better supply chain management and marketing of the product will be effective. Education Due to globalization, the rate of education is getting even higher. Less-invasive procedures also mitigate the pain patients feel and reduce the recovery times. Here are some of the benefits of globalisation: Employment: The establishment of special economic zones has increased the number of jobs available. Potential benefits of globalization for the economy include increased choice, higher quality products, increased competition, economies of scale, increased capital flows, increased labor mobility and improved international relations. Disadvantages: Awfully space inefficient, polluting, dangerous, liable to get stuck in traffic, hard to park at your destination. Standardization of Living 4. 1. Contribution to World GDP Growth Rate 9. Globalization makes it easier than ever to access foreign Enhanced efficiency and productivity: Technology ushers in efficiency and It will slow down effects of global warming due to reduction in CO2 emissions. Globalization helps in improving the economies of less-developed or poor countries by providing access to better goods or services, job opportunities and modernization. Technology provides some sort of template for globalization while also solving the challenges associated with it. This will give benefits to investors at long run in certain areas. Workers Can Lose Jobs to Countries With Low-Cost Labor. It is a process that contributes significantly to the development and growth of a nation. Technology increases the ability of a business to reach more customers, and in less time. Answer (1 of 4): Cars Advantages: High speed capability, point to point transportation. Advantages of Technology on Our Lives 1. The advantages of IT include work place cost-effectiveness and essential globalization. Globalization facilitates the spread of information and technology: In a worldwide society, art and culture arent the only things that spread more easily, Information and technology are in the same boat. Here are some advantages of technology in our lives: 1. Ease of Access to Information The World Wide Web, abbreviated as www has made the world a social village. This is because information from all around the globe is widely available on the internet. Every problem that humanity solved in the past has been due to technological advancements. 6.

Globalization impacts businesses in many different ways. However, some critics worry. Since the advantages of Big Data are numerous, companies are readily adopting Big Data technologies to reap the benefits of Big Data. Another general advantage of technology is that it offers greater access to global communication. However, the good life means different things to different people. The effects of technology breakthroughs on globalization are creating immense transformations in the way corporations and industries organize their production, trade goods, invest capital, and develop new products, services, and processes. Feb 20, 2008 | Lifestyle, Media & Tech. For instance, this could mean that improvements in technology could help farmers to harvest higher crop yields. One of the advantages of technology in international trade and other areas of the economy is the ease of communication and collaboration across geographical distances and time zones. Corporations with offices in different countries can seamlessly meet with their colleagues and customers over video-conferencing software. Globalization has handed developing countries the technology without any of the economic advantages that come with it. Globalization would temporarily reduce high-paying jobs. Technological devices improve efficiency and accuracy in medical surgeries. Pros. Most global businesses use technology that has been available for many years, such as planes and ships. Foreign Exchange Reserves 6. The development is mainly observed in the form of dedicated software applications and a number of hardware programs. Globalization and technology have brought tremendous benefits to humanity and have enhanced the idea of life more abundant.