Unit 1 - Challenges And Opportunities In International Business

Unit 1 - Challenges And Opportunities In International Business

Introduction

Importance of technology in international business

The emergence of new technologies as well as the emergence of information technology has greatly affected the businesses of the companies. The increase in globalization has also influenced the use of technologies among the companies to conduct their business internationally. The international businesses that involve the businesses - to - business and the business - to - customer have been facilitated by the internet and other technological advances. The internet has provided an effective way to the companies to conduct the businesses internationally while giving many other potential benefits.

Discussion

The e-commerce has provided many benefits to the business companies. It has assisted many small companies to grow and it has lowered various barriers to the international market.

Advantages of e-commerce and technology

The advantages that are enjoyed by the companies through e-commerce involve the following ((Deresky, H., 2006).

The low cost of doing business

It saves time

More efficient communication

It makes the business processes easy

It reduces the barriers between both companies and customers

Challenges in international business

The use of e-commerce and technologies also provides a number of challenges to the companies. The companies face difficulties in identifying the true needs of the customers in the international market. The cultural and language aspect also comes across as a challenge to the companies. The online business also faces challenges in having the brand name popular in the international market.

Barriers lowered by technology for having opportunities and effective international business management

The use of technologies has also assisted in the international business management. The company can effectively conduct its business while lowering various business barriers. The international business through e-commerce and technology provides great opportunities to the companies. The companies can expand their target market without making heavy expenditures on ...