Topic > Impact of Technological Change on the Globalization Process

IntroductionMany people, when they think of globalization, immediately link it to the rapid expansion of trade, financial markets, and business activity. At the end of the 20th century, technology was added to the lists as a new driving force of globalization, as it continued to revolutionize. From the telephone to the World Wide Web, countries are increasingly connected to each other politically, economically, culturally and environmentally. In other words it is like moving towards life in a world without borders. Are these changes beneficial for organizations in today's world or can the impact they are bringing be seen as a competitive advance in the challenging market? Without further ado, in part one we will explore more in this task, as well as the impact of technological changes on… in part two. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an original essay Technology as a driver of the globalization process In much of the world, technology plays a fundamental role in how people live their daily lives. From work to personal use, it can be seen that every person is involved in technological advancements. While some conclude that this driver of globalization is beneficial, others believe that it has impacted them. This is a huge debate that cannot be generalised, as we can see in the business world from these 2 articles: The Financial Review (2017) states that: “It is emerging among economists that globalization and technology could be the two main guilty of reducing the wages of middle class workers". (Financial Review 2017) At the same time, the AFP states that: “Globalization has transformed the international economy by reducing the costs of transferring information around the world to almost zero.” (AFP) In business operations, there are many forces driving trends that influence managers and work life, however the increasing speed of technological innovations, especially information and communications technology and nanotechnologies leading to new products and new ways of working, are making some skills obsolete and creating the need for new skills. It could be argued that as the global economy is expanding, global business connections are increasing in number and value as the nature of international business is also becoming more inclusive, multidirectional and interconnected. These new international trade initiatives are a concern for some companies as high technology demands are acting as a dominant role, thus causing threats to meeting technological demand. Transportation technology has demonstrated dramatic growth involving a revolution from the steam engine to the faster and safer one. transport whether by road, air, rail or sea. To date, there has been discussion about the evolution of transport technologies that could change the future. The idea of ​​an autonomous vehicle could help in many facilities where a huge amount of money would be saved in developing infrastructure and manpower, however many people could lose their jobs as drivers. At the same time, it can cause risks when technological systems fail to give the adequate signal to these vehicles, for example more accidents can occur. Furthermore, taking communication technology into consideration, how this modern technology is influencing social and cultural globalization. Over the last decade there have been major changes in telecommunications technology:.