Arasp Biparva Samuel Kleiman and Jake Meer BMGT301 Prof Anderson Information Technology in International Business Information Technology has become an integral part of International Business IT has closed gaps and created many new opportunities for businesses across borders and seas Other than major advancements in technology IT has created new capabilities for firms to better service clients increase market share and operate across borders New products allow business meetings and conference to occur across continents with multiple parties negotiating across video screens IT has revolutionized International Business Three hundred years ago international trade came with many hardships Long distances made transportation difficult and a lack of technology made communication difficult Hand written letters where posted through unreliable methods Ships and couriers were the main method of overseas communication Piracy disease and other misfortunes could hinder transportation of information goods Today we rely heavily on the Internet and IT to conduct business E mail smart phones and the Internet have made international dealings simple and instant Spreadsheets allow us to store data and ensure its accuracy The efficiency of business transactions has increased as well especially regarding time and costs Advances in IT have closed international gaps making International Business as easy as the click of a mouse There are many added benefits to as well This is due to the rapid advances in technology Three main benefits that will be discussed are the positive effects that information system has in electronic procurement electronic marketing and electronic logistics in regards to international business The advances in technology are able to reduce the amount of time to transact a product increase the efficiency of the transaction process and reduce the cost and labor of international business Electronic procurement is advantageous to international business because it eases the process of giving and receiving information from one international company to another Companies are able to relay information to another company from across the world in a matter of seconds The use of the internet in international business creates a work environment sans time zones and geographical borders Small businesses are able to procure products through various websites ensuring themselves that they are receiving the highest quality and lowest priced product worldwide larger companies are able to tease the process that they experience in order to receive their products They enact in a process of streamline buying which goes through three different stages pre purchasing purchase and payment of activities These stages are all enhanced as a result of the advancement in technology For the first segment the time it takes to process and complete preliminary information such as resources and references quickens In terms of purchasing the time it takes to review approve and ship out a product decreases as well Lastly for payment of activities the time it takes to process a payment receive a line of credit or a quote decreases because of the speed of the internet Information systems in international business have led to many businesses becoming more involved globally It has become more efficient as there are smaller deviations of errors and it opens up businesses to a wider array of options Financially companies have increased in profit because they are able to decrease the amount of labor and money it takes in order to procure a product Electronic Marketing has also increased in value as barriers between global companies are drastically decreasing Companies from around the world are able to connect with one another making geographical locations less relevant Sellers have the ability to post products prices pictures and general information about their products on the web This allows buyers from around the world to gain access with the click of a mouse Companies are able to track their websites performances by having counters on their websites which helps them analyze different trends and ways to market each product In addition sellers are able to personalize their websites for each individual seller they have making the efficiency and usability friendlier With electronic marketing companies are able to build themselves a better global brand by having consumers buy their products globally The last main benefit is electronic logistics Electronic logistics help assist companies in making transportation warehouse management and the distribution of products more efficient With the help of the internet everything is able to become more computerized and standardized Companies are able to track the whereabouts and projected departures and arrival dates of each shipment They are also able to record save and organize electronic receipts letters of credits and various other data and documentation Electronic logistics have helped international companies in maintaining projects and ensuring that all sectors of the company are up to date Some companies rely on multiple countries to work together in creating products electronic logistic only eases the process With a paperless office everything is able to become more organized and efficient Companies are able to standardize their business models and products making their organization run smoother Companies are able to manufacture different parts of a product in different countries technologically make this all possible There is no denying that international business has immensely benefited by advances in information technology Year after year technological innovation continues to ease the difficulties and stress associated with doing business on an international scale Years ago information could only travel slowly over vast oceans with meetings and transactions taking months to plan and execute As previously discussed changes throughout history have drastically cut down the time from when messages are sent and received Now a meeting between firms in Japan and the United States can occur at the mere point and click of a mouse There are now countless software and hardware applications to facilitate this process but it seems as though Cisco has captured a large share of the market with its WebEx and TelePresence products For that reason we will further examine them WebEx a leading videoconference software service for businesses combines computer sharing though a web browser with phone and
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