Key Drivers of Global Business

Published: 2019-12-10 08:00:00
488 words
2 pages
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Over the past three decades, there has been a high technological change in the global environment. It is fascinating how events that are not even technology themselves led to technological change. Before the World War II, very little was known about technological advancement and the opportunities, it would present the world with. During the World War II, the level of trade increased with more countries buying and selling items from and into different geographical regions. The increase in trade and decrease price of goods and transport costs slowly led to globalization. Today, almost everything has been digitalized, and it is impossible to avoid its interaction. Business organizations have greatly benefitted from the technological change over the past 30 years. For instance growth in technology has enabled global economic structure whereby companies have achieved positive transformation in the way they organize their production, new product development, and capital investment.

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Apple Inc is one of the largest multinationals operating globally in more than 16 countries. Technological changes have enabled Apple Inc. and other corporations like it to operate globally. For instance, technology has made the movement of goods and people easy. Therefore it gave an opportunity to Apple Inc. to go global and become more successful. Technological advancement has transformed road, rail, water and air transport. The nature of transport system greatly determines the success of globalization and consequently the success of industrialization. Apple Inc. and other multinational companies rely on effective and developed transportation system to ferry its materials; finished goods, machines and to have access to qualified personnel.

Through technological change over the years, communication has become easier compared to decades ago. Technological changes have advanced communication from the time of "snail mail" to the current high telecommunication technology (Staff, 2010). In the past, it would take days or weeks to send a simple message. This led to delays and slow industrial development. Today, there are sophisticated information technologies allow instant communication. The development of the internet, as well as highly sophisticated communication devices, has enabled people to contact each other instantly. For corporations like Apple Inc. Communication is crucial for successful transmission of information. Therefore technological change has eased communication between far-flung operations of its different subsidiaries across the world. How fast information can be sent from one end to another determine how effectively a multinational can keep up with the new trends in the market (Staff, 2010).

The world has also witnessed growth in information and communication technology. The internet and computer based technology have impacted businesses in more ways than we can imagine. Multinationals like Apple Inc. require information technology to develop its products. The world is changing and becoming reliant on technology. People need highly digitalized devices and companies like Apple Inc. are taking advantage of the technological change to provide these products.

References

Globalization 101. (2013). Technology and Globalization

Staff, N. A. E. (2010). Globalization of Technology: International Perspectives. Washington: National Academies Press.

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