Analyzing the Impact of Technology and Globalization on Business

This report explores the significant impacts of technological advancements, social media, and globalization on the business and tourism sectors, with a specific focus on India. It details how technology and social media have revolutionized marketing strategies over the past decade, enabling businesses to enhance their online presence, engage with consumers more effectively, and adapt to evolving consumer behaviors. The report also examines the multifaceted effects of globalization on India, highlighting both the affirmative aspects such as increased market access and economic growth, and the destructive aspects like market risks and employment shifts. It emphasizes the importance of understanding cultural nuances and overcoming communication barriers in a globalized market to ensure business success and customer satisfaction. The report concludes that while technology and globalization offer immense opportunities, businesses must strategically navigate the associated challenges to thrive in the modern global economy; solved assignments and study resources are available on Desklib.

FOUNDATIONS OF
BUSINESS AND
TOURISM

Table of Contents
INTRODUCTION...........................................................................................................................3
1.1 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
1.2 Discussing how globalisation as a process has wedged on the nation - India. Affirmative
and destructive effects of the phenomena are used for clear justification with the help of using
some real and clear examples :...............................................................................................5
CONCLUSION ...............................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Social media is very essential source of computer based technology, it is the engine
which is used to collect information , share information and build the virtual networks for the
business which is helpful for the company members and with the time and the changing era
everything has been change. In old times there was no use of social media and it was a
complicated task to collect the accurate data and share the collected information about the project
and now in modern times there is majority of people who use social media as a powerful source
for sharing the information and use the social media to promote and enhance their brand and
advance their revenue with the social media trends(Sorrentino and et.al., 2022).
1.1 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.
Businesses are reacting to the overpowering grounds and developing a stronger existence
online. In fact, 91 percent of knowledgeable social marketplace see improved web site traffic
from social media drive. The emergence of social media is among the big variations to the
business world in the 21st century. Social media demands attention because it has total deviated
consumer nature. And the process is still spreading and changing as large age group start to use
this tool. Before 10 to fifteen years there were no options available to the consumers to buy the
products and service from the online platforms but now times have changed and people do have
the option to but the commodities and enjoy the online platform services with staying at
homes(Sueyoshi and et.al., 2022). Group born between 1978 and 1994 are the primary
contemporaries to be raised “on the web .” This age set expects to possess substance at their
fingertips and therefore the freedom to regulate the knowledge they consume. As a result, this
group of ingest doesn't digest the normal marketing tools of T.V. publicize and calls within the
eve. it's up to businesses to vary and adapt their marketing strategy to cater to the consumer- a
wise move since it's expected that this age bracket are going to be as large or larger than the
boomer generation.
Enterprise that see the facility behind social media to hurry their advancement fore and embrace
a replacement way of doing concern, while those that resist the advances may find themselves

dwindling into obscurity. The goals of businesses is to generate leads, create healthy relation,
and define an identity that are still dependable goals. However, the tactic wont to get there must
alter(Rojanakit, de Oliveira and Dulleck, 2022). Over the ago three decades, marketing has had
to stay up and deal with leaps in technology and our reference to it ever since. While the Sales
Era witnessed the invention of the phone, swiftly followed by the increase of television and
therefore the Marketing Section Era. The industry process of the Marketing Company Era saw
arguably the most important change within the history of marketing: the primary commercially
available personal cypher. But what do these evolutions mean for the longer term of marketing
Our new Analogue Accomplishment report found that a lot of selling professed are unsure of
their future and believe that digital marketing are going to be critical to their organization over
consequent two years. Despite this when social class were asked about their roles in 30 years’
time, 68% within the USA and 61% within the UK believe that their actual digital role will
surely or probably still exist in its present-day form.
Without a ball , it’s hopeless to determine what the longer term holds, but to seem forward, we'd
like to seem back. Here, we glance at the three major technological evolution that have changed
the way we glimpse at marketing the web , big data and smartphones and predict how they will
set the scene for the individual term(Tiwari, 2022).
There are some of the data which is big and hard to be calculated which can also be in terms of
revenue, expenditure and the investment amount, so there is internet connection which has been
the most and major part for having a clear picture about the company and have the proper
collection of the data. Also the increase in number of users of social media have also explained
that the social media is a platform which defines and also promotes the company to the good and
lead to the profits and people who were unable to justify their business situation are now clearly
using this opportunity to have well in the informative data collected about the company(Marmat,
2022). And the most leading effect of social media has been on a marketing scheme as it has
been instrumental in making the gap between business and the customer, creating channels of
discipline, and helping concern build permanent relationships with the people around the world
and the employees. Social media have not only transformed the way people do business but it
opens antecedently closed stores. With over 3.7 billion active social media gathering all around
the world supply a huge masses of people for the business and to connect with the consumer and
audience and also increase the brand awareness and generate more leads and provide all the

necessary information to the consumer about the product they are providing the users. Social
media platforms are hospitable all, liberal enterprise an opportunity to precede their consumers'
human action or potential buyers. This assist industry be more informed about their audience ,
likes, dislikes, and involvement in order that they will make a far better marketing scheme to
draw in such customers(Liu, Yi and Wan, 2022).
1.2 Discussing how globalisation as a process has wedged on the nation - India. Affirmative
and destructive effects of the phenomena are used for clear justification with the help
of using some real and clear examples :
Globalisation is a vast term that is used to define the process of making trade between
different countries or regions with each other and dependence of the economies on each other. It
is the sharing of products, services, technologies, information and cultures between the different
of the providers and recovers. This process has a huge impact on the overall market of the
world(Younas and et.al., 2022). Due to this, the consumers of the world get products, services
and other things of which there area or country does not have manufacturing or making resources
or information. This makes to provide the world with the highly and advanced types of
commodities that give them more amount of satisfaction and value. In the modern world it is
considered as an essential activity and when not happened or stopped due to any reason it can
lead to huge impacts on the society and economy of a country. Basically, the different types of
common goods such as – oil, sugar, tea and weapons get transferred or exported to other places,
from the place of higher production to the place of low production or high demand. This
provides a company with a larger market, consumers with a larger amount of choices and related
companies with a high amount of competition from which they have to deal to serve in the
market. India is a diversed are large economy that have a strong role in the process of
globalisation. It is developing at exceptional rate and have a high number of opportunities that
can the render the market of the world(Li and et.al., 2022).
The globalisation process needs help of some or any type of travelling modes to transfer the
goods or other types of things that are being globalised. This gets practised with the help of a lot
of travelling and transportation ways. These ways can be transferring of commodities through
transportation modes such as – aeroplane, cars, railways and ships. Ships are the general and
most used way of transport of transferring goods through different boundaries to be fast, efficient

and reach to the place that even do not have connected boundaries. Many types of technological
tools, such as even a smart mobile phone can be a way of practising globalisation by transferring
any types of data, information or values.
The efficient communication proved to be a hindrance in the way of globalisation as there
are difference of the language used and the involved people also do not have actual meetings.
Different countries and even different regions can have difference in the language. India is
diversified country that is involved of many types of cultures and religions that use different
types of languages in communicating with each other. For coping up with this barrier, different
companies use different types of strategies(Jean-Pierre, 2022). For example, some companies
hire communicator to the company that have information about different types of language for
share information of the company and the market with each other, some companies use software
and other technological tools and some even hire staff of the country which is the target market
of the country to not only consider the factor of language but also of taste and other preferred
elements of the consumers of the market. There are difference in the culture of the different
market and their people. The culture is involved of the values, beliefs, behaviour and taste
preference of the consumers. For providing the customers with a higher level of satisfaction, a
business entity needs to understand the cultural behaviour of the people. For examples the
cultural difference in India is vast, even the cities and states have different types of involved
people with different cultures. A company that works on the global market needs to understand
and use the techniques for advertisement or in its operations that do not negatively effect the
beliefs or other cultural aspects of people as it lead to avoidance of the customers and even legal
circumstances(Hollebeek and Srivastava, 2022).
The globalisation has a deep impact on the economies of different countries. It provides a
win- win situation as the customers who wants certain types of goods buy and the companies
who want to increase their sales gets a larger market. Some economies are highly depended that
in the case the globalisation gets effected, for examples in the case of global pandemic (Covid
19) their economies can get crashed and the flow of assets gets negatively effected. It highly
provides employment opportunities to the people. For example in the case of Indian economy, it
has highly helped in the agriculture production, provided employment to high number of people.
As a coin have sides and every thing or process have their pros and cons, globalisation
also have some of it negative impact on the world and its people. It provides risk of the market,

as any other company with more efficient products or services can gain the market share in a less
period of time. It also have a risk to employment, as if a company finds cheaper area of
manufacturing or operating its business it can change(Czerwinska, 2022).
CONCLUSION
From the above report it has been concluded that, technology is the up gradation of
technical tools and techniques that provide the users with more value and make certain processes
easy. Social media is a outcome of the technology that is being used highly in the world. It has
various types of uses. Globalisation is the prices of dealing between different boundaries of the
world.

REFERENCES
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