Globalization: Achieving Business Success Through Information Technology - Essay Sample

Introduction

Globalization is achieved when businesses operate at an international level. Whether small or large scale, businesses that have adopted information technology find their way to a global level. In today's world of social media, enterprises advertise, promote, negotiate, and even sell through the use of technology. Technology has allowed firms to globalize their products by offering them online. Information technology involves the use of computers and other devices like mobile phones to network, commercialize, communicate, store, and transfer information, among other things. This paper is a discussion of how IT acts as a driving factor in the process of globalization.

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Information Technology contributes to the internet commercialization of businesses. Businesses, through the use of the internet, offer their products to readily available customers on various social media platforms and business websites. Through internet access, businesses can market, promote, advertise, and sell their products (Naz, 2018). Businesses can reach a global audience through the use of networks provided by IT. Development of personal internets and computers provided electronic business. Many businesses are run online without an existing physical office. All their transactions are made online and do not need personal contact for business to continue.

IT is used in communication and networking within businesses at a global level. Businesses located in various places use private networks to communicate (Naz, 2018). Also, they can send encrypted data, which is possible due to the presence of technology. Technology also aids multinational firms like the food chains in reproduction and standardization across the globe using fine network connections. A multinational firm conducts meetings through teleconferencing and exchange their data through technological devices. The firms also use technology to connect with their customers and conduct interactions. Companies can do electronic banking across the globe. Money transfers and withdrawals are made more accessible by technology, thus improving the mode of conducting businesses (Prempeh, 2018). Business owners create and maintain interpersonal relationships, thorough the use of technology. The development of air freights and containerized ships have significantly improved commerce and trade. Also, the development of a universal bar code has helped maximize the flow of goods internationally.

IT is used by businesses to store and share data and crucial information across the globe (Prempeh, 2018). Electronic devices such as personal computers and mobile phones provide internet storage of data. Google Drive is an example of internet storage used by firms. The unlimited storage helps firms store large amounts of data and information, thus helping it operate globally. Data transfer has also been made easier by technology. Businesses across the world can share data safely without the threat of theft. Data encryption is one way to secure information while sending it on the internet. Technology provides firms with encryption and decryption software, which has helped many firms secure their information and grow to an international level. Furthermore, many companies engage in global business such as stock exchange and sale of cryptocurrency through the use of technology.

Conclusion

In conclusion, information technology is the major driving factor for globalization. The introduction of personal computers and other devices has helped businesses to interact globally. Connecting through private networks has been made possible by information technology. Firms that have an advanced technological system can make transactions using the internet. Also, communication has been made easy for businesses in a way that physical meetings are no longer necessary. Data storage and sharing had been a problem for the longest time until the presence of technology. Businesses now embrace technology to grow globally.

References

Naz, A. (2018). Driving Factors of Globalization: An Empirical Analysis of the Developed and Developing Countries. https://imsciences.edu.pk/files/journals/vol-10/Paper%206.pdf

Prempeh, E. O. (2018). Globalization, governance, and human factor. Globalization and the Human Factor, 161-174. https://doi.org/10.4324/9781351157162-10