Page 290 - DMGT401Business Environment

Neha Tikoo, Lovely Professional University Unit 14: Changes in Business Environment

Unit 14: Changes in Business Environment Notes

CONTENTS

Objectives
Introduction

14.1 Technological Advancement
14.1.1 Application of Technology

14.1.2 Technological Literacy
14.1.3 Technology: The Key to Competitiveness

14.1.4 Technology and India
14.2 Globalisation

14.3 Summary
14.4 Keywords

14.5 Self Assessment
14.6 Review Questions

14.7 Further Readings

Objectives

After studying this unit, you will be able to:
Discuss the role technological advancement

Assess the impact of globalisation
Introduction

At least three major developments have occurred that have changed dramatically the business
environment. First, technology has been developed that has made information preparation and
dissemination inexpensive. This technology has taken the form of low cost, high-speed digital
and cable video and data transmission, hardware that produces information quickly and easily,
and the development of software that makes preparation, data, and communication tools
available to individuals who previously did not have access to needed information. With these
technology developments, time, space, and other temporal constraints to information have
been reduced and, in many cases, eliminated.

A second major development that has significantly impacted business has been globalization.
Faster methods of transportation, together with instantaneous information, have allowed the
world to become one giant marketplace.

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