Role of Technology in International Business: In today’s changing business environment, International Business is facilitated by the internet and other important technological advances. Advance technology including internet and other information software provides an effective platform to international business-to-business (B2B) and business-to-consumer (B2C) activities.
Barriers to Effective International Business Management: There are several factors or elements such as economic/business/political issues, cross cultural challenges, international marketing issues, infrastructure problems, cultural barriers to effective communication etc. that creates difficulties for effective international business management by affecting technology. Along with this, problem or issues related to effective knowledge management and research & development in the global economy are also the major barriers to effective international business management.
Role of Technology in International Business and New Alliance: Technology plays a crucial role in the international markets in order to expand the international business. Technology makes business faster & easy, increases the demand of the product and service, encourages innovation within the organization, increase profits and business etc. At the same time, technology helps to change market condition, change the nature of the market as well as to expand business in international markets. Along with this our assignment helper stated that, there are some new alliances that are enabled by the technology such as innovation, industry transformation, emergence of ambient organizations, knowledge sharing in multinational strategic alliances. In addition, virtual alliance by the firms to expand business in international markets is also enabled with the help of technology.
Impact of Technology: In today’s business environment, productivity, profitability, international business expansion activities, and brand image of an organization are impacted by the technology. By using technology a business organization can identify the best sources of competitive advantages and explore the internal as well external sources for the organization to attain higher profits. Along with this, an organization can reduce the organizational error and transaction cost and, maximizes the potentiality with the help of technology advancement. A business firm can adopt technology by implementing the advanced technology. It means a particular company has to improve the technology to reduce the risk of expansion.
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