Technology has revolutionized business as we have it today. From simple tools like the calculator to complex systems that allow global communication, IT has made it easier for companies of all sizes to operate. While it may be difficult to imagine a world without these advancements but they’ve come with additional risks, including hacking and other malicious activities that can cause disruption to straight from the source the business processes. This is the reason it is so important for businesses to understand and make use of these tools in a responsible way.
Business owners today use a variety technology tools to streamline processes, support employees and customers. Numerous softwares automatize tasks like recording and data collection. These tools can also be used to calculate vacation time, track employee attendance and calculate monthly salaries. Cloud technology allows businesses to store data on third-party servers and then access it via the internet, instead of purchasing and maintaining expensive physical infrastructure.
In addition digital technologies are changing the way international business (IB) is conducted. Digital platforms enable companies to deliver IB – including procurement, production, logistics marketing and communications across national borders. This lets businesses decentralize processes by shifting costs and operations away from their own business and onto clients, complementors and other stakeholders both in the country and abroad.
The IB community has recognized the importance of innovation for a long period of time and has developed several strategies to aid in their adoption. IB still struggles with the problems that arise from these new capabilities.
