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International Business 11th Edition by Charles Hill ,Tomas Hult
Edition 11ISBN: 978-1259578113International Business 11th Edition by Charles Hill ,Tomas Hult
Edition 11ISBN: 978-1259578113 Exercise 1
How does the Internet affect international business activity and the globalization of the world economy
Explanation
Verified
Verified
Internet plays a dominant role in today's world. There is no field left untouched where internet is not used. It is used in architecture, medicine, education, therapy, meditation etc. Internet plays a dominant role in the business too.
When it comes to international business, then the role of internet becomes more important. The business transactions take place faster with the help of internet. Companies who invest in other countries need some connectivity which is established through internet.
Following are the uses of the internet in the international business:
(i) Fast process of transaction: The transactions are expedited because of the use of the internet. It helps the users to process the transactions faster than before. The companies at the other end in some other country gets the information same very day.
(ii) Delivery and logistics is improved: The delivery of the material, documents etc. are
completed faster with the help of internet. This happens because logistics are
improved by using the latest Internet communication techniques.
(iii) Helps in understanding the legal and governmental norms: Internet also provides all
relevant information related to the governmental and legal norms of the foreign
country. One can be prepared accordingly.
Moreover, it also provides the recent information about any regulatory procedure
which is newly introduced. This helps the foreign country to enter the home country
prepared with all the expected proceedings.
Internet also affects the globalization of the world economy. The economy of all the countries are boosted up by using the internet technologies. The countries can understand the expectations of the home country and thus the foreign direct investment is routed accordingly. This leads to the faster understanding of the processes. This generates more funds for the developing nations and thus developed nations can also earn more with the same revenue.
Thus, internet plays a dominant role in the globalization of the world's economy.
When it comes to international business, then the role of internet becomes more important. The business transactions take place faster with the help of internet. Companies who invest in other countries need some connectivity which is established through internet.
Following are the uses of the internet in the international business:
(i) Fast process of transaction: The transactions are expedited because of the use of the internet. It helps the users to process the transactions faster than before. The companies at the other end in some other country gets the information same very day.
(ii) Delivery and logistics is improved: The delivery of the material, documents etc. are
completed faster with the help of internet. This happens because logistics are
improved by using the latest Internet communication techniques.
(iii) Helps in understanding the legal and governmental norms: Internet also provides all
relevant information related to the governmental and legal norms of the foreign
country. One can be prepared accordingly.
Moreover, it also provides the recent information about any regulatory procedure
which is newly introduced. This helps the foreign country to enter the home country
prepared with all the expected proceedings.
Internet also affects the globalization of the world economy. The economy of all the countries are boosted up by using the internet technologies. The countries can understand the expectations of the home country and thus the foreign direct investment is routed accordingly. This leads to the faster understanding of the processes. This generates more funds for the developing nations and thus developed nations can also earn more with the same revenue.
Thus, internet plays a dominant role in the globalization of the world's economy.
International Business 11th Edition by Charles Hill ,Tomas Hult
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