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  • Subject area(s): Marketing
  • Price: Free download
  • Published on: 14th September 2019
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  • Number of pages: 2

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values of Technology

in this information age, technology has proven to be one the driving force for businesses to succeed. There has been lot of changes in the business sector that have been proven to be highly beneficial and efficient due to technology. it has great value when it comes to the business world. The internet has completely changed the capability of sharing information across and within organizations. this has resulted in the transformations of procuring supplies, productions of goods and likewise delivering of goods and services. online marketing is booming drastically and sales over the internet is skyrocketing. Amazon is one of the biggest online retailing and selling stores in the world. it has incorporated the use of internet selling has part of it system and now making billions. Amazon's customers believe the convenience of internet buying is worth while instead of standing in line waiting by the cashier in a big store. Another change that emerged was web services, these are application software based on client and server that is able to communicate across the world wide web (www) HyperText Transfer Protocol (HTTP). It is able to execute a particular business task in order improve interactions inside and outside an organization. web services is able and as been proving to improve product development, extending older system's life —businesses can install new features to an older system instead of a replacement which also translates to money saving.

It is a well-known fact that one of the most important elements of strategic management is the analysis of the external environment and market monitoring. Threats that wait for the company, and the opportunities that are provided to the enterprise - all this is present in the business environment. The biggest challenges for any business are external in nature - companies are threatened by contestants in the industry, unreliable suppliers, legislation that varies indifferent countries and can change rapidly, some ecological and social cataclysms and many others surprises. This fact determines the exceptional need to analyze the external environment within which the company operates by identifying a number of factors that affect the possibilities for its development. For this purpose, a technique called T.E.M.P.L.E.S. (Technology, Economics, Markets, Politics, Laws, Ecology / Environment, Society) is used. In this paper, the accent is made on the external environment, particularly the effect of technologies and disparity on international companies.

The first part of this essay will be devoted to the inequality of technological distribution in the modern world and how companies are deal with it. There is a global misconception that technology development contributes to the meritocracy in our world. Technologies become more and more accessible to a wide range of people, which equalizes their life chances, and hence the quality of life. Nevertheless, according to the research conducted by the World Bank, the Technical Revolution is increasing the global inequality (Benkler, 2016). The research showed that only well-developed and rich countries would get all bonuses from the innovative technologies. The main reason lies in the so-called innovation gap - a combination of differences in the level of innovation excellence of sectors of one country in relation to sectors of another (Ake & Blumenstock, 2014; Graham, C., & Nikolova, 2013). This gap, in turn, is dependant on investments, and, therefore, on the economic development of the country in general.

In fact, when talking about globalization, often increased attention is paid to the erasure of geographical boundaries, intercultural contradictions, cultural and communicative differences. However, globalization reveals problems not just in creating technologies within different parts of our world but, what is more important, in the adoption of already existing technologies. In their research Comin and Hobija (2010) testing the models of adoption the technologies related to transportation, telecommunication, health care, electricity, and IT by comparing the year of invention and the time when it was adopted in the specific country. The results showed that the average lag of time was 47 years (Comin & Hobija, 2010). Of course, the research proved that quite predictable leaders were the United States and the United Kingdom. However, the most significant part of this research was the derivation of the law - the lower the per capita income of the nation, the longer the lag in adoption technologies will be (Nobel, 2012). These results once again prove the conclusions in the report of the World Bank: “The digital revolution can give rise to new business models that would benefit consumers, but not when incumbents control market entry” (Reader, 2015). These outcomes are widely used by multinational companies in their operation.

As it was mentioned at the beginning of this essay, international business enterprises constantly monitor the technological environment on the global and local (country) levels. In general, the technological environment of business characterizes the capabilities of society regarding technology and technological processes that can be used in business. The use of high-level technologies ensures the competitiveness of goods. Of course, their implementation requires a trained workforce, although it reduces the need for the number of employees, which help companies to reduce costs. However, the business focus of international companies while monitoring technological environment is paid to the level of technological development of the country. If a community is at the low level of development of science and technology, the company is difficult to satisfy the needs in high-quality goods independently. That is why companies who operation on the international level prefer to divide different parts of production or service in different countries or separates the locations of production and where main sales of products occurred.

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