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Technological Globalization Results
Expanded Efficiency in Service of a Diversified Customer Base
IT plays a huge role in adapting corporate strategy in order to increase the efficiency and service towards a new, and more diversified consumer base. Essentially, "greater efficiency can be achieved by dividing the overall problem-solving effort into tasks, showing maximal interaction" with the new market environment (Arora et al., 2004). IT must take over and assign Research and Development tasks accordingly to better understand the market. Through comprehensive investigation of new markets, IT can then provide the most successful strategies to go after the primary characteristics of the chosen market demographic. IT strategies that are proven successful can then serve as a model for other firms. Here, "the idea is that R&D investments by a firm spill over into other firms, thereby increasing the productivity of R&D in other firms, or directly improving efficiency and productivity in other firms" (Arora et al., 2004). Thus, the use of meta-analysis can also come in to play in regards as how to increase overall efficiency of corporate and sales strategies. IT can help increase a firm's efficiency in entering new markets dramatically. The department can introduce the right technology needed to understand and engage in new, unfamiliar markets.
Evolution of Distribution Systems
The way products are distributed will also...
According to the research, "product developers and marketers must understand competition and the distribution channels" already present in a new market in order for a company to adapt a new distribution system properly (Yunker, 2002). The nature of the distribution channel may be quite different in new market environments. For example, it may be more efficient for a firm to adopt new strategies of licensing on an international scale. Thus, the firm can take advantage of distribution systems already in place and benefit from existing structures from within the market they firm wishes to enter. In this case, "the firm has no need to learn how to deal with the local context: it is the licensee that brings in this knowledge" (Arora et al., 2004). This becomes an effective way to adapt and create new distribution channels that are more suited for success in their individual markets. Here, smaller companies can benefit from the cost effective strategy of licensing, where there is minimal upfront investment costs in entering the market because the firms are utilizing what was already a work in progress in these newly opening international markets. Licensing becomes a way for smaller firms to enter into the globalized community without too much investment capital.
Also, distributing technology is a way to increase the market's appetite for certain products and goods. Diffusing technology with…
References
Arora, Ashish, Fosfuri, Andrea, & Gambradella, Alfonso. (2004). Markets for Technology: The Economics of Innovation and Corporate Strategy. MIT Press.
Bijker, W.E., Hughes, T.P., Pinch, T., & Douglas, D.G. (2012). The Social Construction of Technological Systems: New Directions in the Sociology and History of Technology. MIT press.
Yunker, J. (2002). Beyond borders: Web globalization strategies. New Riders.
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