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Globalization in business activities
Globalization in business activities
Impact of technology in business today
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Analysis of the External Environment of Business
The Technological Environment
The external business environment consists of four elements, they are as follows: Political, Economic, Social and technological. It would be impossible to analyse the whole environment in one essay, I have therefore decided to focus my essay on the technological environment. I have chosen this area to focus on because as Palmer and Hartley point out, it is one area that is forcing immense change in the external business environment.
The business environment is at present moving through a dynamic and turbulent phase driven by technological change, globalization and increasingly competitive markets' (Palmer and Hartley 2002).
I will be researching and analysing the major changes that have taken place in the technological environment over the last ten years and explore how they have affected business practice. I will also be discussing how these changes have implicated on the Public Relations Industry.
Technology is defined as:
the sum of knowledge of the means and method of producing goods and services' (Bannock et al 2003).
This authoritative definition of technology assumes technology only refers to the artifacts themselves rather than the way they are used and the theories governing their application. Human knowledge however, is an essential ingredient of technology and I therefore prefer the following definition:
The application of available knowledge and skills to create and use materials, processes and products' (Needle 2004)
This wider definition relates the application of knowledge to the wider processes of business practices i.e. the production and promotion of goods and services. Further it indicates how technological de...
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...al change has transformed businesses activates which has brought huge economic advantages to many businesses. We have seen new markets develop through the increased use of the internet and countries prosper through the development of the global communications network.
I can therefore conclude that technological change has had the biggest affect on the external business environment, at all spatial levels, than any other factor.
Bibliography
Reference
The Business Environment: Fourth Edition 2003
By Ian Worthington and Chris Britton Financial Times: Prentice Hall
The Business Environment: Fourth Edition 2002
By Adrian Palmer and Bob Hartley McGraw Hill Education
Business in Context: Fourth Edition 2004
By David Needle Thompson Learning
The Penguin Dictionary of Economics Seventh Edition 2003
By Graham Bannock, R. Baxter and Evan Davis Penguin Reference
“The term technology refers to the use of scientific knowledge to develop practical needs for controlling physical objects and...
The management of knowledge within the context of organizational processes is a determining factor of its effectiveness and level of performance. Hislop (2013) stated, "One of the key distinctions in the knowledge management literature relates to epistemology" (p. 8). In an attempt to acquire an in-depth understanding of key aspects of knowledge management I will analyze a key organizational job position that possesses valuable experience and traits of fulfilling responsibilities. My analysis will include a description of the organization and position, a review of the perspectives and types of knowledge, as described by Hislop (2013), as they relate to the job position, and the challenges encountered in transferring
Information technology has advanced in multiple ways in society, where organizations has implement the structure into their work environment. Industries have outsource their manufacturing to other places in the world and rely on telecommunication to keep the marketing. The geographic distribution has changed significantly by reducing the distance it takes to complete an operation, due to information technology. These are just a couple of examples of how this advanced technology has reshape our society and continuing.
The world of the healthcare environment is fast-paced and implementation of new healthcare technology requires an organization to have a strategic management plan. Subsequently, in order to start building the strategic management plan one must understand the external competitive forces that influence a strategic management plan by doing an environmental analysis, which is the first step involved with strategic planning and strategic thinking to understand the external environment (Ginter, Duncan, & Swayne, 2013, p. 40). Environmental analysis involves assessing the “trends, events, concerns in the general environment and in the healthcare industry, and the service area” (Ginter et al., 2013, p. 41). Moreover, environmental analysis attempts
Leppala, SS. (2012), ‘An Epistemological Perspective on Knowledge Transfers: From Tacitness to Capability and reliability’, Industry and Innovation, 19(8), pp. 631-647, Scopus®, EBSCOhost, (Accessed: 18 January 2014).
17.) Technology - refers o both tools and know how. Tools allow human to do more know-how is the ability to solve problems systematically.
The contemporary business environment is dynamic, ever-changing and increasingly competitive. Their is potential for success, but even more for failure. Businesses are heavily influenced by the changing organisational environment and this intern creates much uncertainty for managers and organisations. With increasing uncertainty in the external environment, the more important it is that managers engage in continual planning. (Robbins 2012 p. 32) Businesses must be flexible and evolve in accordance with their external environment.
In recent decades, the world economy has undergone an unprecedented level of integration. Previously, I have provided a list of knowledge management tools that can be utilized to analyze many questions and trends, as well as the reason why these tools are important in the global economy. These tools are essential of international relations as being able to examine global problems beyond the headlines. This paper further demonstrates how these tools could be applied to solve the problem or to bring the business opportunity to fruition in today's Japanese business environment.
The book ”Funky Business” by Kjell A. Nordström and Jonas Ridderstrale deals with the upcoming changes which affect mostly every part of our world. Reasons for these changes are for example the higher level of technology. Individuals and organizations are affected and therefore the authors see this book as a self-help book, becuase it illustrates the present situation and gives many advices how to behave in these ”funky” times.
Modern day organizations have to constantly change to meet the demands of customers. Workers have to change with the organizations to be able to perform new functions and complete new sophisticated tasks.
Worthington, I. and Britton, C., 2006. The business environment. 1st ed. Harlow: Financial Times Prentice Hall.
Hansen M., Nohria N., and Tierney T. (1999), “What’s your Strategy for Managing Knowledge?,” Harvard Business Review (March 1999), 106–16.
Today there are no limitations to what technology can do to change the way we do Business. From online malls like(http://www.mall.com) to sites likeE-Bay technology has changed the way we do business. What we can conceive we can achieve. What is coming up next might impact our ways of doing business but the major impact, the major changes have began and what will lead now will be enhancing those changes. We have discussed many ways that technology has impacted our businesses.
Janet Morrison (2011). The global business environment, meeting the challenges. 3rd ed. England, Hampshire : Palgrave Macmillian. 98,26,42
Advances in technology have changed businesses dramatically, in particular the communication and information technology that are conducted in firms, which changed the appearance and pace of businesses over the past few decades. ICT in particular, has evolved a lot over the past 30 years; important information can be stored in computers rather than being in drawers enabling information to be transferred at a greater volume and speed (Guy, 2009). ICT has also expanded various forms of telecommunications and workload conducted in businesses, internet examples of this include: e-mails can be used to communicate with others...