Technological Globalization Class Review

Technological Globalization Class Review

I thought it was necessary to research this particular project because the business climate of contemporary times is increasingly turning towards globalization. Business is no longer conducted domestically or in one particular market; instead, it is conducted internationally in what is a global marketplace as organizations vie with one another for the best resources and services or products they can supply on the planet. Therefore, there is a growing reliance on information technology that enables globalization to take place, and which organizations must keep abreast of in order to stay competitive in today's ever-shifting business climate.

Other studies in this literature review are suggesting that there are certain aspects of globalization and IT that are changing priorities for companies. For instance, it is now much more important for a company to maintain and manage its public image in terms of its methods and how it chooses to do business -- since the ease of communication in today's market can easily transform the public's opinion about such a company. Additionally, companies have much more options for outsourcing resources which makes small and mid-sized businesses viable entities in the global marketplace. The literature review also indicates that multinational companies are a reality, and that third-party service providers can greatly enhance the ability of organizations to access IT on a global scale.

3. I expected to find out from my research project that technology is the common denominator between enterprises (including those that are small and medium sized) attempting to compete in the global marketplace. There were a few specific aspects of today's corporate culture that I expected to learn that IT played a dominant role in, and which it had the potential to significantly enhance. These areas include communication, supply chain management, and marketing (especially in light of the popularity of the internet and the need to incorporate sentiment data or big data into marketing strategies.

4. The data indicates that there are several different areas in which IT has reshaped the way that organizations due business in today's global economy. Essentially, these aspects all primarily correlate to increased data and access to data with a degree of expedience and analytic insight that is much more actionable prior to advancements in IT. Thus, the main areas of improvement for IT are in distribution, communications and growing customer bases.

5. One of the main findings of my research project are that information technology is an invaluable asset for servicing customers from a global perspective. In fact, the proper management of IT management systems can actually expand one's global customer base. Another finding is that improved communications can drastically impact commerce. Communication improvements are one of the most valuable tools for increasing commerce. Finally, the third most significant finding is that IT has a substantial effect on the evolution of distribution systems, which is somewhat related to its impact on supply chain management in general.