TABLE CONTENTS
Introduction.3
Background.3
IT and Global Supply Chain Management .5
Electronic Marketing 6
Electronic Logistics .7
Conclusion..8
References.9
The Role of Information Technology in Global Business
Introduction
In the world of international business, Information technology has become very important. (Proctor, K. & Scott, Y. 2011). Of late, many industries shift the way they operate their daily activities by incorporating the use of information technology at a higher level. They utilize the new technologies which are being invented. The latest inventions in the field of technology which are being used in global business are; smart phones and tablet computers, the latest software and media applications, and the popularity of social networking sites. (McLaughlin, I. & Harris, P. 1998). These devices make communication in business very easy. One can communicate using a very short time to someone who is very far. (Proctor, K. & Scott, Y. 2011). They also use these devices to promote their products, analyze the product performance around the world and also to sale these products as well.
Background.
This report research paper will analyze the problems which were being faced by businesses globally before the introduction of information technology. Furthermore, how the IT has changed the business world and in this case, it will be in a more positive ways. Practically, without It, the businesses are faced with a lot of problems some of them being manual operation of machines. (Allen, T. & Morton, S.1994). This research paper will show how these problems are solved using information technology. In the world of business, there are several things which need to be solved using IT. However, there are several factors which are supposed to be considered while one wants to invest in information technology. A study has shown that there are three ways in which a business man should approach this. This entails the decision of whether to enter an industry, as he considers how to improve his business as well as how to be ahead in any competition. (Proctor, K. & Scott, Y. 2011).
It is important to note that business globally plays a very important role. Through businesses, people are employed and also countries get foreign exchange and hence lead to the growth of economy. (Allen, T. & Morton, S.1994). Therefore it is important through all means to better the ways people do carry out their businesses. Consequently, my research has shown that through information technology, businesses can thrive well in any environment. In all in all, information technology has played a crucial role as far as global business is concerned. In addition, more jobs are open to workers in an international business field. (McLaughlin, I. & Harris, P. 1998).
So long as a worker is connected through the internet, many companies nowadays allow them to work from whenever they are. For example a worker in U.S can attend a meeting through Skype a worker in Italy can sell products of a company to a buyer in England. This has created more jobs for people and it has also enhanced the findings of skilled personnel by employers. (McLaughlin, I. & Harris, P. 1998). Information technology is not present in international businesses one way but in several ways. The most important one is the internet because most of the information globally is stored and shared through the internet. . (Allen, T. & Morton, S.1994).
Devices which are being used in information technology are but not limited to mobile, laptops, PDAs and smart phones and they are commo0nly found in workplace.( Allen, T. & Morton, S.1994).These devices make it easy for companies to get instant updates and share them with their colleagues. This keeps them updated at all the times and this ensures healthy competition hence growth. Through information technology, businesses a round the world get instant information and share it within themselves. IT also ensures that businesses globally are accessible to the consumers and with this, sales are increased. (Allen, T. & Morton, S.1994).
IT and Global Supply Chain Management
It is obvious that in a highly competitive business environment, connection cannot not be overlooked or assumed. (Allen, T. & Morton, S.1994). Connection can be between the businesses themselves or between the employees and the employers. Another connection can be between the businesses and the customers. Global supply chain management is now being operated in an effective manner with information technology being involved. With new internet, a good global supply management team can use a good recruitment methods to demand a good market for their products a round the world. (Allen, T. & Morton, S.1994). IT has enhanced the movement of goods from the producer to the consumer. In that people meet online through the internet and carry out transaction. This cuts the work overload which could have been realizes without involving the use of internet. There are complex global problems which are found in the supply chain which can be solved through IT. One of these problems is automating some of the reply messages from customers. The reply is being channeled to the customers even without involving any body. This is very important since it leads to close contact between the business and the customers. It also promotes a 24 hour working economy which is nowadays being adopted by many countries in the world. (McLaughlin, I. & Harris, P. 1998).
Nowadays, many companies are at least connected through online and this help in joining various businesses around the world. For instance, multinational companies which have many branches can smoothly get connected through it. (McLaughlin, I. & Harris, P. 1998). By so doing, sharing and comparing prices in these stores becomes easy. Companies through website and some other social networks like facebook, twitter and LinkedIn makes companies keep on toes their competitors and also receive immediate feedback from their loyal customers. In other word, we can appreciate that through information technology, businesses benefit by speedier and more reliable networking, marketing, advertising and research and development opportunities. (McLaughlin, I. & Harris, P. 1998).
IT promotes networking within business suppliers. The process of information technology has been greatly increased through globalization through connectivity and collaboration. IT ensures validality of data collected and stored. For instance, IT will ensure that the data is stored in the computers and even in the internet. This reduces the space for storage and the bulkiness of files is now done away with. (McLaughlin, I. & Harris, P. 1998).
Electronic Marketing
Through the internet a very effective platform for electronic marketing or e-marketing has been created. E-marketing means using digital techniques to sell goods and services to the rest of the world. (Vogelstein, F. 2008).This is completely different from conventional selling where buyers lay down their goods for display and the customers could touch these goods and bargain physically for better prices. In e-marketing, buyers display through the internet the photographs, video films as well as the specification of each and every goods he/she offers. (Vogelstein, F. 2008). At the same time, the specific prices are displayed which means that the process of bargaining is now eliminated hence time has been saved.
Electronic Logistics
Electronic logistics means using of web based technologies to help in the management of warehouses as well as transportation processes. (Vogelstein, F. 2008). It has now reduced theft to a greater limit since people can now easily do tracking and also optimize their routings. One can easily conclude that international business has now taken the side of computerization.
In logistics, IT is being applied at length. (Vogelstein, F. 2008).In fact, it applies squarely in supply chain where each and every link is held together by the strength of IT. This is because it has the ability to transmit huge amount of data speedily, or make global data available to expedite the decision making process. (Allen, T. & Morton, S.1994).
Because of many advantages it offers many logistics providers nowadays utilize the internet. They employ this more so in handling the majority of their commercial transactions electronically.(Vogelstein, F. 2008).In fact the majority of exporters are already using IT for various activities ranging from e-procurement of goods to availing transportation services on the net. (Allen, T. & Morton, S.1994).
Conclusion
Technology changes very fast and this should not be ignored by any business person around the world. (Vogelstein, F. 2008).Consequently, the introduction of various aspects of business such as such as e-procurement, e-marketing, e-logistics use a number of technology products have emerged. On the other hand, electronic goods have shorter life span. (Vogelstein, F. 2008). This is because we are now leaving in a society which is driven by knowledge and within a short period, people change from one technology to another. However, for those who are translating information into knowledge dominates the market. They use this information to improve their productivity as well as the efficiency of their businesses. One of the countries which enjoys the era of technology in business is India. (Vogelstein, F. 2008). This is due to the fact that they have invested a lot in information technology. A number of business solutions are developed in India which are even used world wide to solve problems as far as businesses are concerned.
References
Allen, T. & Morton, S. (1994). Information Technology and the Corporation of the 1990s. New York: Oxford University Press.
McLaughlin, I. & Harris, P. (1998). Innovation, Organizational Change and Technology. London: ITB Press,
Proctor, K. & Scott, Y. (2011), Optimizing and Assessing Information Technology: Improving Business Project Execution, John Wiley & Sons.
Vogelstein, F. (2008).The Untold Story: How the iphone Blew Up the Wireless Industry. Cambridge: Cambridge University Press.
