Introduction
Globalization has gained recognition in the modern business world in recent times. It is the process of transforming local aspects into global ones. It seeks to unify people of the world into a single culture that carries out its activities as a whole. This is achieved by activities such as trading done in various markets. Globalization does not only encompass economic aspects but also other aspects such as lives and various lifestyles of people within the states.
This would broadly be viewed as the social life of the people in those states. The process of globalization has enabled various countries to exploit foreign markets. For instance, it has enabled the developed countries to exploit resources in developing countries such as those in Africa. Globalization would push Asian countries such as China to be competitive in terms of goods and service production. It would also enhance issues such as efficiency and effectiveness in production processes. However, there are issues that would be related to globalization and its activities within host states. For instance, there is erosion of culture within the host countries.
There have been concerns that globalization would demoralize certain social and institutional fundamentals within the Asian countries like China. These concerns relate to business systems within these countries. Globalization has encouraged economic integration and establishment of business related corporations. Global technology trends serve to enable conduction of business activities in an efficient way. It enables processes and activities to be done in a professional way that satisfies customers at lower costs. There are different technologies that are being used to achieve this goal. Some of those activities have been reviewed within this write up (Factor, 2002).
Network sharing
The aspect of network sharing would benefit the business industry in regard to areas that are demanding. It is aimed at solving hotheaded demand within the business industry. Businesses carrying out online marketing would adopt this system because the 3G system is overloaded. It is likely to lessen the strain that is exerted on this network. This whole process would ensure easy and quick accessibility to information. It will also facilitate cost management within the business sector: It will cut down on expenses. For instance, in China, additional broadband is being installed. This is by the use of 4G networks that incorporate Wi-Fi and ADSL networks.
Adoption of mobile payments in business marketing
This trend has gained popularity in various parts of the word including Asian countries such as China and Korea. This technology is widely used in making transactions that relate to money. It is flexible in that it can be done using cell phones. People need to have phones that are connected to perform transactions. It can also be carried on at any time unlike banks that have operating hours. In addition to this, mobile phone would also be used in advertising activities. For example, in China thousands of individuals register in mobile banking networks.
The use of customer relationship management (CRM) and electronic vehicles
This serves to perform or provide after-sales services to customers who may be using some products. It would also encompass activities such as customer retention, providing accessories and spare parts to customers. This would achieve various aspects such as efficient service delivery and tackling customer complaints. This aspect would facilitate customer retention and public relations for the firm.
Social networking
The adoption of social networking within the business industry has succeeded in passing information between people. Information on products and services is passed from the firm to customers or consumers of goods and services. Likewise, feedback from users of these products and services get to the firm management via the same channel. Social networks enable crossing of traditional barriers that prevent individuals from forming relationships. It would also serve to encourage interaction between various departments within an organization. Second, this network would enable individuals to exchange information on their knowledge. For example, it would require those registering to provide information on their professions. This would make it easier to identify experts who the firm would employ to provide services to its customers (Deans, 2009).
Online marketing of products
This is a trend that is aimed at reaching those that are connected to the Internet. When users of various accounts visit these sites, the web page displays adverts on various products. There are also websites that provide information on products and services only. It requires one to visit these sites and web pages to get information on the available products.
E-mail transactions
It involves the use of electronic mails in carrying out transactions. This saves expenses that relate to travelling. Moreover, transaction costs are reduced to minimal levels with time saving aspects. Those involved will be doing business while seated in their offices. It is also possible to pass information relating to the transaction process at relatively lower costs.
Digital media in advertising
Adverts serve the purpose of relying information on products and services to customers. Various media are used for promotion mix processes. For instance, there are digital billboards that are used in advertising that is done at strategic points. It would be along main high ways or even at strategic places.
Advantages
Advertising and other information relating to products can be obtained easily and cheaply by the use of modern technology such as connected mobiles and computers. Advanced technology used indifferent media that carry out these activities make its charges relatively lower than those of other media. With most people, possessing mobile phones, accessing information on advertisement is relatively easy.
Counting the number of people who have access to information relating to advertising is also relatively easy. This is made possible by click registration of the links visited. The number of clicks indicates the number of people who were able to access the information. Use of advanced technology such as Internet in marketing is relatively quick and efficient compared to other traditional methods.
Disadvantages
Though the application of global technology in business is a breakthrough today, it has got disadvantages. This process is extremely expensive at initial stages. For instances, it requires millions of dollars to be established. This is expensive for young firms and organizations to make use of global technology in its activities. In addition, it requires high literacy levels. This technology may not be applied in areas with poor infrastructure. Moreover, global technology has led to social evils such watching of pornographic material on the Internet.
Conclusion
Global technology trends seek to make business services efficient and accessible to many people at minimized costs. This has led to acquiring of advanced technology that would be accessed more easily, and in many regions around the world than traditional technology. Subsequently, global technology has also led to development of social evils that undermine foundations of business in various system of the world. It has also led to development of health related problems. This is due to side effects of some of the equipment used in providing this technology. Some of the problems include development of cancers, loss of eyesight and even brain damage (Silberglitt, 2006).
References
Deans, P. (2009). Social software and Web 2.0 technology trends. Hershey, PA: Information Science Reference.
Factor, A. (2002). Analyzing application service providers. Palo Alto, Calif: Sun Microsystems.
Silberglitt, R. S. (2006). The global technology revolution 2020, in-depth analyses: Bio- nano-materials-information trends, drivers, barriers, and social implications. Santa Monica, CA: Rand.