IT in International Business Arasp Biparva Samuel Kleiman and Jake Meer History of IT in International Business Then International Business has come a along way in the past few centuries Trade used to rely on handwritten communication transport in vulnerable ships and was very time consuming Disease and other hardships made trade difficult History of IT in International Business Now International Business is now conducted instantly over the internet Digital products are traded constantly IT has streamlined International Business IT and World Trade Efficiency has dramatically increased Spreadsheets make it easy to store information accurately Expanded capabilities for businesses Up to the minute currency rates Numerous electronic stock exchanges Online electronic brokerages Currency and securities trading at the click of a mouse Benefits Electronic Procurement Electronic Marketing Electronic Logistics Electronic Procurement The process of procuring products electronically Small Companies benefits Big Companies benefits in streamline buying Pre Purchase Purchase Payment of Activities Electronic Marketing Sans barriers Usability Ease of payment Global Brand Electronic Logistics The process of using the internet to assist in warehousing transportation and the distribution system More Computerized More Standardized More Efficient Overall Increase in Efficiency Productivity Usability Connectivity Standardization Decrease in Labor Costs Time Deviations of error Purchase Cycle Time Applications of IT in International Business International Business has immensely benefitted from IT advancements Overseas meetings and deals used to take months to plan and execute Now it s as easy as a point and click Cisco WebEx Cisco TelePresence Applications of IT in International Business Cisco WebEx Web conferencing Saves time and Easier communication Less phone hassle More Productive All you need is Wireless device Audio connection Webcam Internet connection Applications of IT in International Business Case Jake Meer runs the Marketing department of a large multinational company based in Princeton NJ He and a large group of his colleagues need to discuss packaging policy details with the entire Supply Chain department based in London England Not everyone on the ground floor has computer access but is imperative that they actively participate as Marketing trains them how to use new packaging materials How will they do this Applications of IT in International Business The answer Cisco TelePresence 3200 Facilitates large scale discussions in Endpoints Great for large regional offices linked to HQ large teams cross functional groups powerful training tool 18 members in each room interact Many can observe Applications of IT in International Business TelePresence Global Endpoints
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