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Challenges faced in the global business environment
Challenges faced in the global business environment
Impact of technology on the workforce
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My opinion:
According to American journalist Thomas Freidman, our world is flat. In other words, Freidman argues that the world has become technologically dominated and with the help of technological advancement (for example, the internet), every country now has a fair chance to compete in the global market. I do agree with Friedman in the aspect that technology has brought the world closer together and created an invisible string tying together international trades and expansion of business globally. But I don 't believe that the world is flat, rather it is far from flat. I disagree with Freidman’s statement that every country has a fair chance in the market because the world is now flat. Instead, due to the globalization (flat world), more countries now have less of a
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A digital firm is organizations that run its core business relationship with employees, customers, suppliers and external partners through digital networks. Digital Firm can be an example of an information technology flattener. A digital firm is organizations that run its core business relationship with employees, customers, suppliers and external partners through digital networks. Digital firms have transformed the traditional business process of firms, by providing more flexibility in a global market. Digital firms offer both time shifting and space shifting which now has become the norm. Time shifting is when business is conducted continuously for 24/7; instead of the traditional workdays from 9 A.M. to 5 P.M. Space shifting is when the work takes place in a global scale. Firms such as Cisco Systems, 3M, and IBM, moving towards becoming a fully digital firm. Many companies today are replacing face-to-face interviews with “virtual” interviews such as video calls. One of the biggest advantages of a digital firm is the use of current technology to optimize resources and obtain the highest productivity and
As technology improves, businesses expand and recruitment pools decrease, organizations contemplate ways to, not only reduce the overhead costs of doing business but, to attract new talent in a competitive employment marketplace (Darleen, 2012). To do so, many organizations have redefined what it means to ‘go to work’, in terms of not only the act of getting there, but how work is accomplished and where (Lojeski & Yuva, 2008). A study conducted three years ago by the Society For Human Resource Management (SHRM) reported that almost half of the organizations surveyed utilized virtual teams (Minton-Eversole, 2012). Anyone who conducts business using mobile technology devices is considered
A Capital One Financial Corporation has established such workplace by providing mobility and flexibility to their employees in business units. They implemented a concept “virtual workplace” which is based on reconfiguring office space and use of up to date mobile technology. It gives employees opportunity to be more productive since they are able to work from any place they would choose. According to the Benefits Survey Report from the Society for Human Resource Management published i...
The phrase: "the world is flat" can be interpreted in many ways. Basically what Friedman means by "flat" is "linked." The falling of trade and political barriers and technical advances have made it possible to do business, instantaneously with billions of other people around the world. It has allowed for parts of the world, which had previously been cut off, like China and India, to successfully compete in the world market. Thus, the playing field is being leveled, and no one nation has an advantage. Friedman could also refer to a "flat world" in a metaphorical sense. In a spherical earth you cannot see around the world and cannot recognize the opportunities far from where you live. If the world were flat you could see it all. There would be no barriers to get in your way. This is the equivalent to a smaller globe which allows one to reach far away opportunities.
Information Technology (IT) is a foundation for conducting business today. It plays a critical role in increasing productivity of firms and entire nation. It is proven that firms who invested in IT have experienced continued growth in productivity and efficiency. Many companies' survival and even existence without use of IT is unimaginable. IT has become the largest component of capital investment for companies in the United States and many other countries.
Arguments supporting the "flat world theory" come mainly from Friedman. His argument rests on the assumption of ten flatteners and a triple convergence. Friedman says that the power of new information technology has helped bring the world closer together and has made it more interconnected and interdependent (Friedman, 2005). More people now have access to this technological platform for education, innovation and entrepreneurship (Friedman, 2005). However, Florida (2005, p.51) argues that this flat playing field mainly affects the advanced countries, which see not only manufacturing work but also higher-end jobs. Other developing or undeveloped countries simply do not have the luxury of this connection and are left out of this technological platform. Florida (2005, p.51) contends that “...there are more insidious tensions among the world’s growing peaks, sinking valleys, and shifting hills”. This inequality is growing across the world and within countries.
The Earth isn't flat. To some that is obvious. To others it's a bold statement. Many scientists and people argue about a topic that has a clear answer. Is the Earth Flat? Over centuries, people have debated whether or not our planet is flat. But now, with the advancements of science and technology, people still choose to believe and create groups or “societies” claiming the Earth is flat. The flat Earth idea is false due to use of science, common sense and an individual's own opinion.
Flat Earth News: An award-winning reporter exposes falsehood, distortion and propaganda in the global media. Nick Davies. London: Vintage (2009) Nick Davies’s Flat Earth News explores the problems with modern journalism. Whilst journalists attempt to hide their ‘tricks of the trade’, Davies uses his book to expose them, stating in the prologue that the book is “a brazen attempt to break that rule” (p.1).
During the past decade, the internet has revolutionized and changed the way organizations do business by offering rapid communication systems and enhanced information access and innovation of technological advancements have created a brave new workplace. Further, the internet enables organizations to decrease expenses, reduce product life cycle time, market goods and services more efficiently (Anandarajan et al, 2000). However, with these kinds of benefits, the internet provides employees with a technique
First of all, Friedman talks about the different levels of globalization. There are 3 different time periods in which the society has differed and changed, bringing us to where we are today. Globalization 1.0, which took place from 1492 to 1800, was the first step to making the world flatter. The coming to America, and the industrial drive that came along with this is what most characterized globalization 1.0. The industry drive was about things such as manpower and horsepower, and how well we could utilize these in the world market. This caused the world to “shrink” a little bit, and become flatter. With the discovery of a new world, it broadened the area in which business was conducted, but the commonality of rule and trade caused the distance to be spanned more frequently. I think Friedman’s notions regarding globalization 1.0 is very accurate. The world in our terms began in 1492 with the discovery of North America. Once the area began to be inhabited and settled, there was much more worldwide interaction. Communications and trade between the American colonies and England increased, and this began a more stable business of worldwide association. I believe that Friedman’s theory is true, because the discovery of a land across the ocean for th...
Today there are no limitations to what technology can do to change the way we do Business. From online malls like(http://www.mall.com) to sites likeE-Bay technology has changed the way we do business. What we can conceive we can achieve. What is coming up next might impact our ways of doing business but the major impact, the major changes have began and what will lead now will be enhancing those changes. We have discussed many ways that technology has impacted our businesses.
...in the new “flat world” individuals need to figure out how to become “untouchable.” He explains that “untouchables are people whose jobs cannot be outsourced, digitized, or automated” (184). He explains that in a “flat world” there is no longer a job based solely on geographic, but rather in most cases an available job “will go to the best, smartest, most productive or cheapest worker-wherever he or she resides” (183). He goes on to show that companies and individuals have to look at the global picture today in order to succeed (183).
Regardless of the decentralization, they are capable to manage the activity because of a shared determination to make decisions. Consequently, as as Manuel argues, these digital networks form the foundation of the new network enterprise and the new network economy, where performance is dispersed through flexible and adaptable workforce that is both independent and synchronized.
But in the use of the term “technology” today, there is far more associated meaning than automobiles or washing machines. It has ushered in an entirely new way of working, and in increasing numbers of organizations, increased options of just where work associated with a particular job will be done. More employees than ever have the option of working at home yet still being employed either full...
Advances in technology have changed businesses dramatically, in particular the communication and information technology that are conducted in firms, which changed the appearance and pace of businesses over the past few decades. ICT in particular, has evolved a lot over the past 30 years; important information can be stored in computers rather than being in drawers enabling information to be transferred at a greater volume and speed (Guy, 2009). ICT has also expanded various forms of telecommunications and workload conducted in businesses, internet examples of this include: e-mails can be used to communicate with others...
In the first place, computer technology can not only improved quality of working but also enhance student’s learning. In the modern society, computer technology becomes more popular in many companies. The reason is that it is able to improve working efficiency and quality. If every worker has abilities to operate and use computer technology, they can save more time to do another things. This means individuals can spend less time on working to do the same quantity of works as before. Most importantly, improving working efficiency and quality is favorable for business operating in the future. For example, more and more companies like to use digital technology to analysis their data. Digital technology is a kind of computer technology that is always used in business. The information created by digital technology and used by others will grow faster than anything else. The Economist reported in 2010 that data management and analytics are worth more than $100 billion and are growing at almost 10% a year, roughly twice as fast as the software business as a whole (Orange, 2014). This is a dramatic increase in working efficiency that is caused by computer technology. Besides, computer technology could also be used to predict further performance of a company, which is