GLOBALISATION AND TECHNOLOGY

The Impact of Globalisation and Advancements in Technology



The Impact of Globalisation and Advancements in Technology

Introduction

Globalisation, in simple words, refers to the expansion, deepening and speeding up of the worldwide interconnectivity and the broader outlook of global interdependence. It is a process through which peoples and communities come to experience increasingly common social, economic and cultural environment. And by definition it is a process that affects everyone throughout the world (Ifsw.org, 2014, p.n.d). The global economy has an increasing impact on the future of the economic growth of the world's leading companies, and on everyone living on this planet. The ongoing integration of all the economies of the world to make them more productive, facilitated by the revolutions in technology, is what globalisation is all about.

Globalisation is supported by three major factors, the ever developing technology, increasing world labour supply, and the government policies that affect the world trade and investments. Technology has always been the catalyst in the advancement of the worldwide outlook and approach. Technological advancements serve as critical tools which multiply the forces applied to achieve the international economic goals. Even from a historical perspective, it always has been technology which has taken man a step forward. The growth from the industrial revolutions whilst travelling between different technological eras has indeed brought us where we stand today - virtually connected with every corner of the world.

There are however, several other social, economic and cultural factors affecting globalisation worldwide, which is why the rates of globalisation differ region-wise. The economic factors are determined by the international ties between regions and global economies as well as the financial conditions of different countries. Social factors include the accessibility to foreign information within a region and the ability of different populations to assess this information also plays a determining role.

The policies of the governing bodies of different regions act as barriers in some cases and as catalysts in others. The free flow of international information within a region and its international political participation and condition also impact globalisation. The cultural factors that may hinder with the growth of a region on a global scale include openness to foreign cultures, practices and international trends. This affects the familiarity of the people in the population of that region with the ongoing advancements in the world.

Discussion

The Current Global Environment

The impact of globalisation on global communication is a crucial factor in the growth of organizations looking to expand internationally with a competitive advantage. It is a common business communication principal that poor internal and external communication leads to an under par organisational performance. The current economic crisis and challenges have highlighted the importance of international integration and communication. As we move towards globalisation and the goal of an interconnected globe, the need for cross cultural communication has become a necessity. International businesses have to recognise the need of understanding different global markets and consumer mixes in order to be able to successfully extend their businesses to that ...