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Business Globalization
Business globalization is generally connecting economic regions worldwide in a network of trade, communication and transportation. The companies that use these networks manage resources on a global scale to meet their financial goals.
1,232 Questions
When is the pursuit of self-interest in the social-interest in the globalisation?
When your interest benefits the society directly and indirectly.
Foreign direct investment blessing or myth?
Blessing . such flow of money is a natural process and will create a level playing field for every country
What is information outsoursing?
outsourcing is when you pay another company to take on an aspect of your business, e.g accountant. so i should think information outsourcing is giving information to a company to keep safe or to sell.
How did electronic banking has contributed to globalization?
Electronic banking has significantly contributed to globalization by facilitating seamless international transactions and providing businesses and individuals with easy access to financial services across borders. It enables real-time money transfers, reducing the time and costs associated with traditional banking methods. Additionally, electronic banking platforms allow for greater financial inclusion, empowering users in developing regions to participate in the global economy. This interconnectedness promotes trade, investment, and economic collaboration worldwide.
Why are information systems so important today?
Six reasons why information systems are so important for business today include:
1. Operational excellence
2. New products, services, and business models
3. Customer and supplier intimacy
4. Improved decision making
5. Competitive advantage
6. Survival
Here is onother answer to this questionThe emegence of a global economy, transformation of industrial economies, transformation of the business enterprise, and the emergence of digital firm make information systems essential in business today. Information system is a fondation for conducting business today. In many businesses, survival and the ability to achieve strategic business goals is difficult without extensive use of information technology. There are six reasons or objectives why businesses use information system:
1. Operational excellence. Business improve the efficiency of their operations in order to achieve higher profitability. Information systems are important tools available to managers for achieving higher levels of efficiency and productivity in business operations. A good example is Wal-Mart that uses a RetailLink system , which digitally links its suppliers to every one of Wal-Mart's stores. as soon as a a customer purchase an item , the supplier is monitoring the item , knows to ship a replacement to the shelf.
2. New products, services, and business models.Information system is a major tool for firms to create new products and services, and also an entirely new business models. A business model describe how a company produces, delivers, and sells a product or service to create wealth.
Example: Apple inc transformed an old business model based on its iPod technology platform that included iPod, the iTunes music service, and the iPhone.
3. Customer/supplier intimacy. When a business serves its customers well, the customers generally respond by returning and purchasing more. this raises revenue and profits. The more a business engage its suppliers, the better the suppliers can provide vital inputs. This lower costs. Example: The Mandarin Oriental in Manhattan and other high-end hotels exemplify the use of information systems and technology to achieve customer intimacy. they use computers to keep track of guests' preferences, such as their preffered room temperature, check-in time, television programs.
4. Improved decision making. Many managers operate in an information bank, never having the right information at the right time to make an informed decision. These poor outcomes raise costs and lose customers. Information system made it possible for the managers to use real time data from the marketplace when making decision. Example: Verizon Corporation uses a Web-based digital dashboard to provide managers with precise real -time information on customer complains, network performance.. Using this information managers can immediately allocate repair resources to affected areas, inform customers of repair efforts and restore service fast.
5. Competitive advantage. When firms achieve one or more of these business objectives( operational excellence, new products, services, and business models, customer/supplier intimacy, and improved decision making) chances are they have already achieved a competitive advantage. Doing things better than your competitors, charging less for superior products, and responding to customers and suppliers in real time all add up to higher sales, and higher profits. Example: Toyota Production System focuses on organizing work to eliminate waste, making continues improvements, TPS is based on what customers have actually ordered.
6. Day to day survival. Business firms invest in information system and technology because they are necessities of doing business. This necessities are driven by industry level changes. Example: Citibank introduced the first automatic teller machine to attract customers through higher service levels, and its competitors rushed to provide ATM's to their customers to keep up with Citibank. providing ATMs services to retail banking customers is simply a requirement of being in and surviving in the retail banking business. Firm turn to information system and technology to provide the capability to respond to these.
Information systems are the foundation for conducting business today. In many industries, survival and even existence without extensive use of IT is inconceivable, and IT plays a critical role in increasing productivity. Although information technology has become more of a commodity, when coupled with complementary changes in organization and management, it can provide the foundation for new products, services, and ways of conducting business that provide firms with a strategic advantage.
The International Monetary Fund (IMF) promotes global economic stability by providing financial assistance and advice to countries facing economic difficulties, thus facilitating smoother international trade. The World Bank focuses on development by offering loans and grants to improve infrastructure and reduce poverty, which enhances economic integration. The World Trade Organization (WTO) regulates international trade by creating a framework for trade agreements and resolving disputes, promoting fair competition and reducing trade barriers. Together, these institutions support and shape the processes of globalization by fostering economic cooperation and development across nations.
What are the advantages and disadvantages of corporate governance?
Corporate governance provides several advantages, including increased transparency, accountability, and ethical decision-making, which can enhance investor confidence and improve a company's reputation. It helps mitigate risks and ensures compliance with laws and regulations. However, disadvantages may include potential bureaucracy, which can slow down decision-making processes, and the possibility of conflicts between shareholders and management, which can lead to inefficiencies. Additionally, overly stringent governance can stifle innovation and flexibility within an organization.
What are some features of modern nations as a result of globalization?
Modern nations exhibit several features as a result of globalization, including increased economic interdependence, which leads to greater trade and investment flows between countries. Cultural exchange has intensified, resulting in a blending of traditions, languages, and lifestyles. Additionally, advancements in technology and communication have facilitated the rapid dissemination of information, fostering a global consciousness and awareness of international issues. Lastly, countries often adopt similar governance and regulatory frameworks, influenced by global standards and practices.
How is a gift to a corporation treated as a gift?
A gift to a corporation is generally treated differently than a gift to an individual. For tax purposes, such contributions are often classified as donations or capital contributions rather than personal gifts. Corporations can receive gifts, but the tax implications depend on the nature of the gift and the relationship between the donor and the corporation. Typically, these gifts do not provide the same tax deductibility benefits for the donor as gifts to individuals or charitable organizations do.
What are the advantages of global technology?
The advantage of the globe having an environment is that we can live on the planet.
What does prompted by globalization trends mean?
"Prompted by globalization trends" refers to changes, actions, or developments that are driven by the increasing interconnectedness and interdependence of economies, cultures, and societies worldwide. This can include the spread of technology, trade, and communication, which influence how businesses operate, how cultures interact, and how policies are shaped. Essentially, it highlights the influence of global dynamics on local or specific situations.
