Perhaps the most significant advancement in globalization has been the Internet and information systems. Massive amounts of information and data are available via the World Wide Web, and there is rarely a question that cannot be answered with a search engine. Although the Internet has granted people all over the world the ability to share information with each other, it has been a surge in telecommunications technology that has facilitated the global exchange of data. Before advancements like email, cellular technology, instant text messaging, and broadband communication, businesses were limited to telephone calls and postal services for their communication needs. Fax machines were a major advancement years earlier, but they were limited in their usefulness.
The first decades of the 21st century opened the doors to instant communication to anywhere in the world. The world's banking systems have also benefited from the ability to instantly transfer funds, simplifying long-distance transactions. Most global businesses use technology that has been available for many years, such as planes and ships. However, innovative navigation advancements, such as global positioning systems, have increased efficiency and made travel safer. Additionally, cargo ships have grown in size and sturdiness over time, and many can now carry huge amounts of cargo overseas.
The Driving Forces of Change. And Editor of the Aerospace Technology Working Group Innovation Series. The Driving Forces of Change. And Editor of the Aerospace Technology Working Group Innovation Series.
Yamaha Motif Xs Rapidshare Premium on this page. Globalization is a powerful result of the New World system. It represents one of the most influential forces in determining the future course of business. The term was first coined in the 1980’s. We define globalization as the democratizing of access to local market knowledge, customer information, services, products, and capital across national, cultural, and linguistic boundaries.
As Thomas Friedman writes in The Lexus and the Olive Tree: Understanding Globalization, this new period of globalization started in 1989 with the falling of the Berlin Wall. Before the falling of the Berlin Wall globalization was based on Capitalism vs. Three Key Drivers For Globalization First driver is the commoditization of the Information and Communication Technology (ICT) infrastructure, computers, software, and Internet. According to Friedman, “These technologies are able to weave the world together even tighter.” This deep global integration sets the stage for the second driver, the development of world trading systems and standards–leading to free trade, removal of barriers to trade, democratization of capital and investment barriers, and knowledge transfer.
These two are now fueling the third driver, economic expansion of emerging markets and new business venturing. Entrepreneurial Capitalism is expanding around the world.
For example, The Global Entrepreneurship Monitor reports that there are more than 500 million adults actively involved in entrepreneurial activities around the world. China and India are two countries leading this pervasive adoption of free-market ideology and the introduction of free enterprise, entrepreneurial capitalism into their societies. In fact, there are more than 100 million entrepreneurs in each of these two countries. But for this entrepreneurial activity to create any such value, these emerging markets need laws clearly defining ownership and protection for tangible and intangible property rights. Entrepreneurial activity and innovation require strong property rights and rules defining the protection of intellectual property.