Impact of Technology and Globalisation on Business

Foundation of
Business

Table of Contents
INTRODUCTION ..........................................................................................................................3
SECTION A.....................................................................................................................................3
Question 1. Discuss how developments in technology and social media have impacted on the
way companies and organisations market their products and services in the last ten or fifteen
years........................................................................................................................................3
SECTION B.....................................................................................................................................8
Question 2. Discuss how globalisation as a phenomenon has impacted on a country or
regions. Discussing both positive and negative effects of the globalisation phenomena.......8
CONCLUSION .............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Business is a commercial activity a person indulge in with making it there professional
occupation and earning their livelihood through it. There are numerous types of businesses
flourishing in the market satisfying needs, wants, desires and preferences of people by offering
several differentiated products and services (Manikutty, 2016). The current report is surrounded
upon different aspects and concepts of business and business management. For the beginning
development in technology and social media have significant impact over marketing and other
activities of companies and organisations. The influence of social media and technology is
evidenced in the assignment. Moreover, next part is examining the phenomenon of globalisation,
its impact on United Kingdom by discussing both the aspects positive and negative.
SECTION A
Question 1. Discuss how developments in technology and social media have impacted on the
way companies and organisations market their products and services in the last ten or
fifteen years.
Companies and organisations are of different size, scope and nature belonging their
respective industry operating according to the region in which they are established developing
policies and regulation by integrating them with the laws of the market and the country in which
they are running their business. Technology gave businesses and organisations a broad platform
of development and growth. Technology is a tool enabling companies to perform several tasks
rapidly and productively earning higher profits and reducing costs. Through technology several
machinery have been developed which are advanced and updated, devices have been introduced
by using technology and new inventions (Parker, 2018).
Businesses and industries are making use of technology as a product offering and as tool
as well for completing their tasks and rendering their separate products and services to customers
well. Technology as a products is used when new technologies are developed by using old one
and innovation is taking place on the same side experts are developing new technologies and
inventing advanced technologies too. In several industries technologies are used for
manufacturing, packing, selling, marketing, delivery and all the aspects of business.
Therefore, technology and its development has a potential impact on all over the
operations of businesses playing a vital role in every stage of product life-cycle and business

operations. One of the greatest contribution of technology and advanced devices is over
marketing of products and services. Social media and internet are product of technology, earlier
companies use to market their goods through physical means, then technology developed and
better marketing tools developed which were enhancing the process of marketing. Now with
revolutionary changes taking place in technologies marketing practices have evolved as well
today marketing is conducted online with the help of social media and internet (Lüdeke-Freund
and et. al., 2017).
Omni-channel marketing is the suitable example for it, both physical and virtual
marketing tools are used in it which are fully devised and controlled through technology and
social media. This is a tool which makes marketing easy covering both the sources and most
importantly suggested and utilised by all the marketers.
Illustration 1: Omni-channel Marketing Strategy, 2019
Omni-channel Marketing is a technology driven tool which involves eight channels and
social media is part of it. Email marketing, digital advertising, websites, print ads and Catalogs
all actions are dependent over technology and advanced devices.
In past years technology have brought huge revolution and development in marketing
practices and actions of organisations (Chen and et. al., 2018). Business owners are dropping
traditional method of door to door marketing making use of social media to reach out to
maximum customers. Social media is a effective tool enabling companies to attract customers by
just few clicks. Marketing involves several stages, market research is first for gaining knowledge
about the market and accordingly developing strategies. For this surveys are conducted through
social media, websites and other means rather than knocking every door. Once market is