Globalisation and Technology

This report discusses the impact of globalisation and technology on business. It covers the positive and negative effects of these phenomena on companies and organisations. The report also includes answers to questions related to the topic.

Globalisation and
technology

Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................2
ANSWERS......................................................................................................................................2
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.............................................................................................................................................2
Question-2 With the help of clear examples, discuss how globalisation as a phenomenon has
impacted on a country or region of your choice. In your discussion remember to put forward
both positive and negative effects of the phenomena..................................................................5
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
From the above analysis it can be concluded that business management is a major
function of a business in order to perform accurate and quick operations in globalisation. The
companies in the recent times focus on development of various and effective operations in IT in
order to analyse different market forces (Clayton, 2017). Globalisation has also created a major
impact on the development of a business which is helpful in increasing economic wealth. In this
report there is an answer provided with in-depth analysis on technology and social media have
impacted on the way companies serve marketing needs. The above stated report also concludes
role played by management in order to briefly analyse the parameters of globalisation.
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MAIN BODY
ANSWERS
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
The recent developments in information and technology has impacted seriously on
various types of organisations. In corporate world, it is crucial role of management to focus and
include social media related operations for overall development of business. All major
companies in the international marketplace should use IT based practices in order to develop
major business based approaches. This technique is mainly helpful in increasing strength of
business for overall development of a business. Social media plays a major role in increasing
competitive strength of business by helping a business in reaching out large number of
customers. The business should also conduct marketing survey on social media platform for
focused development of company (Gowers, 2021). Technological advancements like use of
super computers and software are used in a business to maintain effectiveness in operations
throughout the financial year. All major companies in the international and national marketplace
are now focusing on social media based services to focus on development. In the recent times, it
is important for the company to also perform promotion of a product or service through the
internet.
In recent times, use of social media has increased with the development of major
websites like Facebook, Instagram and Twitter. Many companies in global and domestic
marketplace focus on performing various functions and tasks with support of major objectives
and goals. It is also major role of management to develop effective responsibilities according to
the application of information and technology (Development in field of IT, 2022). The business
organisation should also focus on analysing various factors and elements that are important for
focused business development. In the last 15 years, due to increase in technology business
organisations are taking advantage in a precise manner (Perraton, 2019). Promotion of a product
on social media also helps a business to focus on majority of goals and objectives which are
helpful in determination of various goals. Major companies in the international marketplace
should focus on analysing various technological factors and their usage in business development.
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All major companies should also focus on different functions and tasks which are based on
technology in order to develop accurate and quick operations. This is also major role of a
company to analyse key growth factors which are important for business development. The
technological based approach is also effective by development of a management information
system. The business entities also use application of customer relationship management software
for overall business development. Many companies in domestic marketplace also focus on
developing artificial intelligence based tools and techniques to perform major operations. In
corporate world, it is crucial role of top level management to focus on decision making by taking
support of IT based decision support system. This will help company to formulate major
company decisions on the basis of short, medium and long term organisational goals and
objectives.
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Illustration 1: Information and technology graphics, 2022

In the last Ten years, many business organisations have understood the importance of
information and technology and they have started transforming their operations from traditional
to digital approach. Business expansion and growth in the international marketplace is also
effective in order to analyse key goals and objectives of a company. All major companies also
hire professionally trained and skilled workers in the IT department for long term growth of
business. In order to increase effectiveness and efficiency of a business it is important to perform
different development based tasks with support of IT based practices (Koengkan, Fuinhas, and
Santiago, 2020). Database management of different customers is also essential for making a
company more developed at the marketplace. The main focus of a business should be on
implementation of a long term business planning framework which is important for business.
The planning framework also includes development of a long term strategy which is essential for
organised growth of business. It is the ethical duty of human resource management to focus on
company's planning frame work for strategic growth. Information and technology is also a major
type of approach which is also beneficial in providing effective source of income. This uses
advanced computer systems and software for planning support in a systematic manner.
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Question-2 With the help of clear examples, discuss how globalisation as a phenomenon has
impacted on a country or region of your choice. In your discussion remember to put
forward both positive and negative effects of the phenomena
Globalization means the process which helps in making integration done over various aspects
making business achieve global status in more effective manner. The process has been used for
making expansion done for business at global level. Also it helps in making business to be
understood globally which make international process developed within an organization.
Through the process various aspects covered more effectively making organizations goals and
objective accomplished within no time. Globalization has positively impacted UK's economic
growth by making proper structure to be prepared which allow MNC to invest and develop
within the country. It has acted as backbone for making many organization like Sainbary, Tesco
and British airlines uplift there business at global level (Pretel, and Camprubí, 2018). Also
globalization has helped an organization in spreading all over the world improving living
standards of an organization. It has helped in making new industries establish themselves within
underdeveloped countries.
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Illustration 2: Globalisation overview graphics,2022

It makes claim over creating an unfair world where the rich countries exploit the world's
poorest people and it has increased the development gap. There are certain positive and negative
impact of globalization which are it has helped multinationals bring foreign currency to local
economy making them purchase local product making local business introduced at global level.
It has helped in providing new skills making business grow more effectively. The mixing of
people and culture all over world enabling ideas shared with an diverse approach towards
business. Through this global issues has been solved in order to tackle business more effectively.
Also it enables government to form policies which supports growth of economy within country.
There are certain negative impacts of globalization that is making operations done with interest
of rich countries helping in dominating growth of underdeveloped countries. Multinational
companies may drive local companies out of business and are sometimes more powerful than the
governments of the countries in which they invest. Another negative impact is that local and
traditional business model gets disturbed and culture of an country like UK becomes impacted
negatively (Rafni, 2020). This makes control lost over key decisions making factor as they are
influenced by personal interest of an organization which makes unfair means to be used over
profit generated form business. Globalization leads upon making foreign investors put there
interest first rather then growth of country like UK (Impact of globalisation on UK economy,
2022). Also job opportunities get limited as everyone seek job opportunities within MNC making
goals of job generation impacted drastically. Thus globalization has both positive and negative
impact upon business organizations in UK.
Main positive impact of globalisation includes development of world wide trade which
has increased chances of business growth. In the international marketplace there are various
companies which follow trade policies developed by different bodies. World trade organisation
is a major organisation which performs development of formulation of goals and objectives. In
the situation of globalisation United Kingdom's economy has gained a major growth rate at the
marketplace. It is also one of the major roles of a business to include different practices related to
globalisation for effective development based aspects. All major companies should also prefer to
include development of strategic framework according to globalisation for company
development. It is also one of the crucial role of a business to formulate and design major
policies according to view point of society. Companies should also focus on analysing goals and
objectives according to overall development based parameters. The company should also focus
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on developing major goals and objectives by taking into consideration major factors and their
growth (Shukla, 2018). The main focus of a company should be on development of business
practices for survival in marketplace. After the BREXIT, economy of United Kingdom has
impacted in several ways to develop focused business operations. Major companies in the
domestic and global marketplace should analyse key goals and importance of globalisation in
order to develop systematic operations (Vadra, 2017).. Major companies in the marketplace,
should focus on developing major aspects of a strategy using tools and techniques of business
expansion. The inflation rates of UK economy also increased with the major step of BREXIT,
which created a trouble situation for business organisations. The companies were only dependent
on limited number of suppliers after the BREXIT. However, government took many good
initiatives to develop focus on major trade practices in order to gain precise growth at the
marketplace. The concept of globalisation has also created impact on many companies like
TESCO, Marks and Spencer and Walmart which are major multinational companies.
Globalisation has also increased the chances of internationalisation for the companies in
order to increase their profitability and sales turnover ratio. Major negative impact of
globalisation is, increased tariff duties on export and import which is a major challenge in front
of many companies. Another crucial negative impact of globalisation is, increased competition at
the international level which includes a major amount of risk. Risk associated with the business
is high in the global marketplace so a company should use appropriate risk management models
and approaches. In order to deal with issues and challenges related to globalisation, it is
compulsory for a company to take help of strategic management (Sindi, and Roe, 2017). Also the
company can adopt a major planning framework developed by top level management to achieve
aims and targets. The information and technology is also a major positive impact of globalisation
which is important for business development. The international companies achieve accuracy and
quickness in there operations with the usage and application of IT based practices. Many
companies in the global and domestic marketplace also focus on analysing international trade
routes which are helpful in increasing market strength of a business (Tolkach, and Pratt, 2019).
Globalisation is increasing day by day which is helpful in increasing expansion opportunities for
national companies.
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CONCLUSION
From the above stated report it can be concluded that globalisation has impacted on
whole world's trade practices in order to deeply analyse market forces. In the international
marketplace it is important responsibility of management to focus on international business
practices for overall development of the country. This project concludes significance of
information and technology in order to lead the marketplace. The above discussion also
concludes that in order to comply with the present business environment in order to lead
competition.
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REFERENCES
Books and Journals
Clayton, A., 2017. Globalisation, Technology, Trade and Development 1. In The Caribbean
Economies in an Era of Free Trade (pp. 71-91). Routledge.
Gowers, R., 2021. International competitiveness and the impact of globalisation and technology
on economic growth and welfare. In Competitiveness and Economic Development in
Europe (pp. 131-141). Routledge.
Koengkan, M., Fuinhas, J.A. and Santiago, R., 2020. Asymmetric impacts of globalisation on
CO2 emissions of countries in Latin America and the Caribbean. Environment Systems and
Decisions, 40(1), pp.135-147.
Perraton, J., 2019. The scope and implications of globalisation. In The Handbook of
Globalisation, Third Edition. Edward Elgar Publishing.
Pretel, D. and Camprubí, L. eds., 2018. Technology and Globalisation: Networks of Experts in
World History. London: Palgrave Macmillan.
Rafni, A., 2020, August. Political Education for Novice Voters Through Students’ Democracy
Jamboree Program. In International Conference On Social Studies, Globalisation And
Technology (ICSSGT 2019) (pp. 115-123). Atlantis Press.
Shukla, R., 2018. Impact of R&D spillovers on firm-level R&D intensity: Panel data evidence
from electronics goods sector in India. In Globalisation of Technology (pp. 203-225). Springer,
Singapore.
Sindi, S. and Roe, M., 2017. The evolution of supply chains and logistics. In Strategic supply
chain management (pp. 7-25). Palgrave Macmillan, Cham.
Tolkach, D. and Pratt, S., 2019. Globalisation and cultural change in Pacific Island countries: the
role of tourism. Tourism Geographies.
Vadra, R., 2017. Knowledge economy in BRICS: a case of South Africa. Journal of the
knowledge economy, 8(4), pp.1229-1240.
Online
Development in field of IT, 2022[Online]Available
through:<https://www.tandfonline.com/toc/titd20/current>
Impact of globalisation on UK economy, 2022[Online]Available
through:<https://www.issuesonline.co.uk/articles/effects-of-globalisation-on-the-uk-economy>
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