The Three Major Factors Fueling International Technological Growth
According to Matthew and Kleiner (2008) the three major factors fueling international technological growth are the internet, telecommunications, and e-commerce. The internet has the capability to generate international market expansion and future international growth for firms. It has evolved into a mechanism that can be used to capture new international market opportunities. Due to transactional and communication capabilities, the internet has become an efficient and effective conduit for global trade and international market expansion (Matthew & Kleiner, 2008).
Telecommunications
The telecommunications industry is divided into four main sectors: wired, wireless, satellite, and other telecommunications establishments. The largest sector of the telecommunications industry continues to be made up of wired telecommunications carriers (Bureau of Labor Statistics, 2009). Mobile services, both economically and socially, have become very important to consumers and businesses. Many consumers now view mobile services as essential to their daily lives, particularly as a growing number of innovative services that go well beyond voice communications become available. Wireless communications expands between consumers and businesses, in addition to lowering transactions costs and other costs of doing business. In addition, mobile communications play an essential role in helping to connect different populations, especially those in isolated areas (Bureau of Labor Statistics, 2009).
E-commerce
Roos (2008) defines electronic commerce or e-commerce as buying or selling of goods and services over the internet. Electronic commerce encompasses a broad range of informa...
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Mobile is the first order priority device for access because people are connecting with others, finding entertainment, and doing business—all with smart phones. The prices of mobile phones are never over $1,000 in today’s world. They are affordable and accessible. As the result of the changes the worldwide and national business environment has undergone, people own 1-2 cell phones on average. However, the mobile markets in US seems to have been saturated.
The cellular-service industry in the United States has reached maturity with AT&T, Verizon, Sprint, and T-Mobile taking the largest share of the market. Each company has
As we continue into the twenty-first century, one has to consider the importance of technology and its ever-growing influence in today’s world. Technology has allowed us to eliminate the physical boundaries of geography and create a space where data can be relayed throughout the world in a blink of an eye. In other words, communication has become part of a daily necessity. The use of cellular phones has grown exponentially since it was first made available to the public in 1984, when they were still large, bulky, and expensive. Today, almost everywhere you go, everybody has a cell phone. Sizes, shapes, and features vary, but they grow smaller and faster every year. It is not just the technology of phones that one must analyze, but the mobile service that is provided as well. In the United States, we have three major existing wireless service providers: AT&T Wireless, Verizon Wireless, Sprint, and T-Mobile. These carriers sell their service along with phones that are manufactured by Motorola, LG, Nokia, Blackberry, Apple, Samsung, and many more. We will focus on Verizon Wireless and how they utilize technology. We will also address the role of management, real estate, and future endeavors that lie ahead.
Today, there are over 6 billion people in the world. Out of those 6 billion people, 4.6 billion people have access to a cell phone/ telecommunication device. Technological advances has allowed the cell phone market to flourish and grow since the late 20th century. In fact, in the last 20 years cell phones have evolved from landlines to smart phones. While there are many effects from the growth of the mobile phone market, it is important to observe and analyze the positive and negative externalities on which the mobile phone market presents to both producers and consumers.
Telecommunications gained mainstream attention in the early 90’s; however the initial key market was business men and women, who used their phones whilst being on the move and so allowing them to communicate with their companies with ease. Though in the modern era, telecommunication went through segmentation in the market trends, and now in this day and age it would be difficult to find someone who does not own some form of mobile technology. Many phone providers battle to provide the best service for their customers (Figure 1).
With the World becoming more globalized and corporations interacting with one another on a daily basis, thanks to the Internet, global finance and international financial investment have become the standard on how companies and countries do business. Two of the main reasons economists push for economic globalization are to reduce policy barriers to trade and investment in the public sector, and to reduce costs on transportation and communication in the private sector (). One of the main ways that transportation and communication costs have lowered is through technological improvements and progress in recent years. The Internet has cut communication costs from $244.65 to $3.32 from the early 1990’s to today (). The world has seen a large push
One of the fundamental factors that has affected the process of economic globalization is the improvements in the technology of transportation and communications. This has reduced the costs of transporting goods, services, and factors of production and of communicating economically useful knowledge and technology. There is no doubt that advances in information and communications technology are the most important technological advances of the past quarter century (Mussa, 2000). By far, the most important and business altering advancement is the internet. There is evidence everywhere that the internet has greatly affected international trade. The internet has opened up the world, and brought it right into everyone's home and business. In addition, technology and the internet have greatly reduced the costs of doing business. Even the smallest operation can now go global via the internet at almost no cost. However, there are still some problems that face these e-commerce activities. These problems are shot-term challenges and can be met. The key issues center around two areas:
Connections between science and technology (S&T henceforth) have baffled many historians and economists. One of the explanations of the relationship between S&T is the simple linear model set out by the economist Schumpeter. In his view the relationship is going from science to technology then to the economy. The simplicity of the model made it well liked with policy makers suggesting that it is best to expand the budget to support science and basic research and development. However, this model might be well suited to the late nineteenth century industries than the twentieth century industries and therefore no longer accepted as representation of the relationship between S&T. Bush report, Science, the Endless Frontier as cited in (Brooks, 1994) further supports this view. He basically encourage that policy makers should support science because scientists will know automatically what is important to the world and technology will develop and follow.
The internet’s first role is the delivery and collection of timely information about products and services. We will have a look at the realistic role that the internet might play in assisting firms to reach their international marketing objectives. There are two types of impediments to the internet’s adoption and growth in international marketing: structural and functional. Structural issues are likely to have greater impact on consumer internet marketing than on business-to-business marketing. Functional issues are likely to have a greater influence on consumer marketing because businesses are easier to identify, segment, and reach.
Major developments in microprocessors, telecommunications (satellite, optical fibre, wireless etc.), the internet and World Wide Web (WWW), have facilitating improved communication, information processing and transportation for international business. I see this to be greatly beneficial to improving the nature of international business, establishing greater efficiency and opportunity for global success. Technology can provide greater efficiency due to the reduced costs of production (microprocessor advancement and Moore’s Law) which have become a possibility through technological advance. I believe the internet and WWW to be one of the biggest influencers of globalisation since the 1990s. This platform provide the opportunity to increase offshoring, produce innovative products and better organize the flow of production along a global supply chain (as Komatsu took advantage of, Hill et al, pp.24), and in addition to the cost savings, enables small businesses to develop and compete on the international market. I believe this to greatly alter the nature of business, because it facilitates the growth potential of smaller enterprises, increasing their involvement in internationalism, allowing them to enter the global market and successfully compete because of the benefits and reach of the internet and web. In using Hill et al’s (2014) words, the web has become an equaliser, it limits the
The telecommunications industry and other United States manufacturing sectors have been severely challenged by continuously competitive market place. The future of telecommunication and the manufacturing of goods is truly at risk. With consumers demanding more for less, high infrastructure costs and outsourcing most can barely keep up. Deregulation, digitalization of services have made telecommunications one of the most volatile growth industries in history and one of the more extraordinarily competitive.
The telecom industry is being influenced by consumers and business that are adopting alternative forms of communications increasing competition between current service providers and new ones entering the market of Telecom. “Mobile wireless and high speed Internet access is two kinds of services that have been made possible by innovation and new techn...
Horrigan, J. B. (2006). The Internet as a resource for news and information about science. Retrieved April 18 from
By definition, EDI is an electronic transfer of standardized transactions between two parties over a private network by use of computers. These transactions are business in nature and the parties would be a sender and a receiver computer. Zwass (2001) argues that internet dynamics have redefined E- Commerce and the traditional E-Commerce is fast moving to the internet. The redefined E- commerce now includes several other facilities such as electronic trading of tangible and intangible goods, online marketing, ordering payment and delivery, consultancy services such as advice, and the online company collaboration. This has lead to several other definitions of E-Commerce that are used in different contexts. For example, Timmers (2000) defined E-Commerce as the process of doing business electronically while Straight-on.com (2000), defined E-Commerce as conducting financial transactions by electronic means. Turban, Lee, King and Chung (1999) defined elec...
International trade provides opportunities for those who want to do business and invest in foreign countries. It is much easier to contact and go to foreign countries nowadays due to freedom and technology that we have. Internet is one of a great example, which can be easily seen how far the technology has been developed. Internet provides a number of opportunities for entrepreneurs and companies to expand their business and get most benefits from. Since nowadays the Internet has a big role in world business, many advertising can be seen and reach customers easily. It also provides many new ways to do business online. Online sellers do not need real space to sell products since customers can see pictures of product online and order it. Another interesting way to make money is Youtube. There are many people called Youtubers or Youtube channel creator, these people make videos and post them in their channel on Youtube website which they do not have to necessary invest any money after that but they still get money from views from Youtube users around the world. In fact, “YouTube does not pay on how many subscribers Youtube channel creators have or how many people share their video. Instead, it pays them from the share it earns from showing ads on video.” (Jason Alleger, 2015) People have more opportunity to expand business through world business. People and businesses