- Key Termand Why You Are Interested in It (100 words minimum)
Advances in communications technologies are changing the way companies conduct their business. The technology in communication is constantly changing and evolving and in order to be successful, companies must keep pace. This topic stood out as interesting to me because of my fasciation with technology. For example, I find myself always wanting the newest phone with the most cutting edge technology. Right now I only have an understanding of communication technology from a consumer’s perspective, and would like to learn about how communication technology affects major businesses. I am most interested to research what the projected advances in communications technology are going to be and how they will affect businesses.
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- Explanation of the Key Term (100 words minimum)
Communication in the most general sense of the term refers to how people interact with one another. On a business level, this includes how companies interact with their employees, customers, and other businesses. As the technology in communication grows, companies are able to expand their business reaching out to new customers all across the world. Currently, there are several communication applications where technology is being applied such as television, radio broadcasting, mass media, and advertising (Satterlee, 2014). The largest contributor to communications technologies is the internet. According to Satterlee (2014), “E-commerce has exploded into a multi-billion dollar industry since its widespread adoption in the late 1990’s” (p. 17).For international business, innovations in communication technology are shrinking the world, making it easier to conduct operations between distant locations.
- Major Article Summary (300 words minimum)
The article, Introduction to the symposium E-Commerce and Global Business: The Impact of the Information and Communication Technology Revolution on the Conduct of International Business explores predictions made at an international business conference in May of 2000 about how information and communication technology (ICT)will affect international businesses. According to Torre and Moxon, (2001)many of the people in attendance speculated that the ICT revolution would, “Shrink distances, eliminate intermediaries, and bring closer integration of the world economy” (p. 617). Specifically, people were predicting that companies could essentially be born global, have infinitely responsive supply chains, low prices and high surpluses of consumers (Torre &Moxon, 2001). At the time of the conference, the dot.com companies were booming, which was a main contributor to these bold predictions.
When Torre &Moxon (2001) wrote their findings in 2001, they noted a crash in the latter part of 2000 of the dot.comsand also a significant drop in value of technology company shares. They concluded at the time, a born global company perfectly interconnected with the rest of the world still does not exist, contrary to what was predicted. However, the pairdo mention that the internet and other ICT’s are by no means a fad that will go away anytime soon. The main reason for new company’s inability to be born global is that research showedcompanies need to establish themselves domestically before positioning themselves internationally. For internet companies, the two most important aspects of the company are reputation and the amount of traffic on their sites (Torre &Moxon, 2001).
In conclusion, ICT’s are not going to change the international business world overnight as initially predicted. Torre &Moxon (2001) conclude that, “The impacts will be both dramatic and subtle, instantaneous and gradual, peripheral and central to the management of multinational enterprises” (p. 629). Because it is still relatively early in the ICT revolution, the valuable opportunity exists to collect data on new companies from their creation in order to fully understand the effects of communication technology.
- The cited article from Journal of International Business Studies relates to my explanation as it discusses the importance companies place on information and communication technologies. The article directly supports chapter 1 of our textbook in that it focused on advancements in communications technologies leading to reduced barriers of communication between distant operating locations. While the communication technology revolution is not moving as fast as most predicted, communication technology is here to stay. Across the world, companies spend trillions of dollars each year focused on the ICT industry. Additionally, the article talks largely about the application of the internet and how it is changing the way new companies operate. I also learned that if companies want to expand internationally, they need to establish themselves domestically first. Research is still being conducted on the newer businesses that are attempting to expand internationally as fast as possible and the effects communication technology has on them.
(150 words minimum)
- The cited work relates to the scholarly source of, Exploring the Impact of Communication Technologies on Business Air Travel as it reinforces the fact that communication technology is reducing the barriers of communication across distant locations. This source found that airline companies suffered a loss during the 2008 recession due largely in part to the ease of communicating over email and face-to-face communication over laptops. Many business travelers flying for training or meetings were now using web based communication alternatives rather than flying.
The cited work relates to the scholarly source of, Information and Communication Technologies over the Business Cycle as it discusses the importance companies place on ICT. The amount of money businesses spend on ICT accounts for over 1/5 of GDP fluctuations.
The cited work relates to the scholarly source of, On-Demand Workforce-Communications Technologies Help Organizations Meet Critical Business Goals as it examines the growing number of companies shifting their focus to communication technology in their workplace. One of the driving factors competitive personnel seeking employment look for is the workforce-communications technologies offered by the business. This includes employee portals, tools for quick communication with other employees, and other applications designed to help with business.
The cited work relates to the scholarly source of International Competitiveness in the ICT Industry; Evaluating the Performance of the top 50 Companies as it discusses the economic importance of ICT as the field continues to grow. The article also examines how the top 50 companies in the world compete with one another in the performance of their ICT. The top companies ended up being mostly US and Japanese. Telecommunications and electronic companies were found to be the main competitors in the intense global competition over ICT.
(150 words minimum)
Halkos, G. E., &Tzeremes, N. G. (2007). International Competitiveness in the ICT Industry:
Evaluating the Performance of the Top 50 Companies. Global Economic Review, 36(2),
de La Torre, J., &Moxon, R. W. (2001). Introduction to the Symposium E-Commerce and
Global Business: The Impact of the Information and Communication Technology
Revolution on the Conduct of International Business. Journal Of International Business
Studies, 32(4), 617.
Levin, B. (2008). On-demand workforce-communications technologies help organizations
meet critical business goals. Employment Relations Today (Wiley), 35(2), 43-50.
Molinari, B., Rodríguez-López, J., & Torres, J. L. (2013). Information and communication
technologies over the business cycle. B.E. Journal Of Macroeconomics, 13(1), 933-963.
Satterlee, B. (2014). Cross border commerce: With biblical worldview applications (2nd ed.).
Roanoke, VA: Synergistics, Inc. ISBN: 9781934748121.
Welch, M. (2014). Exploring the impact of communication technologies on business air
travel. Journal Of Organizational Culture, Communications & Conflict, 18(1), 187-213.