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The Networking Age - Impacts on the Economy
Our economy is shifting from one that is centralized, asset-driven, and manufacturing oriented to one better described as intanglble, interconnected, value-oriented service delivery.
Globalization
-Distance and national borders are less important when dealing with digital products.
-International standards facilitate technological and economical integration.
-Is globalization feeding ebusiness or is ebusiness feeding globalization?
Stronger Links/Interconnectedness
Emphasis to intangible products
- media & entertainment
- software
- service-orientation
- brand recognition
- prestige, status, style
Improved economic efficiency
- more options
- lower transaction costs
Network effects
Posted by Mark Hemphill on January 12, 2004 | Permalink
Comments
It seems as if our world is slowly getting smaller while more people are able to talk and interact around the world. I personally feel that globalization and ebusiness are fueling each other, and that both could not be getting as big as they are without the other. We are able to text anyone around the world, do business with anyone around the world, and there is no time waisted, or faxes used, or numbers dialed. The internet and globalization has made the internet a market for people to expand and interconnect. The possibilities are endless when new technology is still being envented to improve a tech world we are beginnning to live in.
Posted by: Bryce Elsley | Sep 28, 2005 12:34:04 PM
A smaller scale example of how our world and economy has become decentralized is the way this class Bus 241 operates. Yes there are times where we are centralized (in the classroom), but the way our whole class can connect and communicate from almost anywhers in the world proves this decentralization.
The question on globalization feeding ebusiness or vice versa can be compared with the internet and the WWW. That is, the internet can exist without the WWW, just like e-business could exist without globalization. However, with the creation of the WWW, both the internet and the WWW have thrived of each other. The same goes for e-business and globalization; because of the technological advances like globalization, e-business has thrived and has become one of the most vital aspects of business.
Posted by: Rob Horne | Sep 29, 2005 5:01:41 PM
As commented above the world has seem to shrunk as more and more people are turning to technology to help run there business's. It is now just as easy to sell to costomers across the world as it is to sell to your next door neighbor.
However I feel that we will not have a completely sufficient customer base untill the whole world is on the same page. We have to much poverty and misfurtuned in the world who no nothing of our advances in the communication feild.
The world is becoming one big economy which is excellent but it won't be complete untill all country's have access to the same technology.
In my mind it is technology that is feeding globalization with out technology globalization would not be where it is today.
Posted by: keith hansen | Sep 30, 2005 11:58:51 AM
I really like Rob's comparison of the relation between globalization/ebusiness to that of the internet/the world wide web. I think it's impossible to say exactly which is feeding the other - we can't say this without looking at them individually, and yet, they've had such a big impact on one another that to disregard that impact would be misleading. It is, however, completely undeniable that they are affecting one another in a big way.
Because of our technology, it is almost second nature to expect access to anything that we might want, regardless of where it can be found in the world. While it may not be possible to pinpoint exactly what caused this, it's definitely become a way of life that we've all grown accustomed to, and probably would not be able to function without.
Posted by: Becky Snow | Oct 2, 2005 4:44:49 PM
Yes in did Globalization is the way to go, though we might be thinking that this affect poor communities, I think we might be wrong, because if you observer very well in developing countries even though it is not everyone who has a computer in their homes, a majority of them have the basic internet knowledge. And many business in those country are starting to approach internet technologies to sell there product or services; they might not have a personal website but you will see their adverts on the web. The problem is that not everyone has the opportunity to shop online because they don’t have master cards. All this means that is just a matter of time for globalization to become global.
Posted by: Patient Nkulu | Apr 7, 2006 10:12:40 AM
