Technology

Technology is as defined in the Merriam-Webster dictionary is ‘the practical
application of knowledge especially in a particular area’ and ‘a capability given

by the practical application of knowledge’. Technology according to Bernard
Stiegler is ‘the pursuit of life by means other than life’ and in one other part
described it as ‘organized inorganic matter’. Technology is a broad concept
based on scientific advancements which has led to the progress in fields such as
agriculture, transportation, computing, mobile, internet as well as energy i.e.
nuclear fusion power, hydrogen economies and bio fuels. It has affected society
including humans and animals, the surroundings as well as the global business
environment as a whole. The global business environment has several branches.
With great assistance of technology; these branches under global business
environment for example industries, economic growth, communication,
cultural, political, military and social advancements can be seen flourishing at a
rapid pace.
This essay will briefly describe the history of technology, the first few
advancements then coming back to the topic, the modern forms of technology.
Once this is complete, how modern technology affects the global business
environment will be discussed in detail and clearly outline the benefits and
drawbacks of modern technology and the impact of that on the global business
environment.
Human ancestors used sticks and stones approximately 200,000 years ago
(Steven R. James 1989). This is where we see how simple tools can help
perform some of the most difficult tasks. Rocks for wheels, sticks as pivots,
rubbing stones to produce fire had made their jobs easier than ever once they
discovered all that. All this may not have been classified as technological
advancements back then, but were the basic ideas for some of the most
advanced machines used these days. Centuries and centuries of advancements,
improving earlier ideas and basic techniques, it was not until the 20 th century
that the term ‘technology’ rose to prominence. The 20 th century started changing
the way people lived. The word ‘technology’ was now associated more widely
with changes and progress in the fields of medicine, transportation, media,
science and politics. Industrialization, trade and improves machinery and factors
of production helped increase the output of goods and services at that time.
A good example of improved production in the car industry could be that of The
Ford Motor Company. Henry Ford developed the assembly line in 1913, which
not only led to mass production but reduced labour hours and their cost of
production (Ford R. Bryan 1990).
The use of technology nowadays is tremendous. Modern technology has

changed the lives of individuals and industries. This essay will first outline the
positive changes that have been brought about by rapid improvements in
technology.
Modern technology has led to vast improvements in production. The output of

goods is for any type of product doubled if not largely improved. Computers
along with workers are now being used to finish a product. This is known as
computer-aided manufacturing (CAM). Computer software is used to assist and
control machines and related tools to help finish a product. Renault was
amongst the first few companies to have used computer-aided manufacturing in
1971for car body design and tooling operations (Dian Marie Hosking, Neil
Anderson 1992). Kaizen the Japanese term meaning ‘improvement’ first used
by the Japanese after World War II, now widely being used by most industries
has further led to improvements in output. This along with quality control has
led to greater and better output. This process humanizes the work process,
eliminates overly hard work and uses the scientific way to produce goods.
According to Nihon Kyokai ‘the idea is to nurture the company's human
resources as much as it is to praise and encourage participation in kaizen
activities.’
The internet is a worldwide system of interconnected computers, joining

millions of home users, businesses and government networks. Many traditional
communications media, such as telephone and television services are reshaped
or redefined using the technologies of the internet giving rise to services such as
Voice over Internet Protocol (VoIP) and Internet Protocol Television (IPTV).
News papers, although, still popular have now also been reshaped in the form of
websites accessed by millions, is just a click away. The internet has led to the
rise of many social networking sites such as Facebook and MySpace and many
online chat messengers such as MSN, Yahoo and Skype. Mail can now be sent
within just seconds with the help of the internet. Hotmail, for example, has
made life easier for millions of users which enables them to chat, send emails
and communicate; all within seconds. Email has not only made communication
much quicker but also reduced the costs of many firms instead of sending mail
by post abroad. The same can be said about conferences. With the internet now
being used for video conferencing and new technology that has greatly assisted
in this area, the introduction of clearer cameras and have helped improve
conferences, make communication much easier and helped speed up decision
making. All sorts of files can now be sent to and fro businesses and individuals
24/7 without delay. Web browsers such as Internet explorer by Microsoft and
Apple’s Safari along with others such as Firefox can be used to surf the web.
Millions of websites can be accessed including music, sports, radio, news as
well as performing other major benefits such as applying to universities abroad.
The internet gave birth to search engines such Yahoo, Ask and one of the
largest Google. Google was founded by Larry Page and Sergey Brin and is a
multinational public cloud computing and internet search technologies
corporation and develops a number of internet-based services and products and
generates profits primarily from advertising through its AdWords programme
(David A. Vise 2005). Almost any sort of updated information on anything in
the world can be found using these search engines.
Mobile phones are hand held, portable electronic devices used for long- range
communication which is now increasingly common. Phones these days have
features such as messaging, GPS navigation, cameras, personal organizers and
infrared and Bluetooth technology. Phones companies such as Nokia integrated
with Symbian software providers to make the perfect handsets with a lot of
applications. Nokia have recently released a phone using Maemo software
which is the ‘next’ level as they call it in the mobile market. Google has
launched its first handset, the G1 and HTC Magic, using the Android system.
Apple launched their iPhone with over a million applications for a person of any
age group.
Mobile and internet technology has led to internet banking or online banking.
This allows customers to make secure financial transactions and send and
receive money without actually going to their banks (Mary J. Cronin 1997).
Debit and credit cards can be used to make online transactions to help people
easily buy products online. Some of well known online catalogues and stores
that deliver goods right at the buyer’s doorstep include Argos. Amazon and
eBay are amongst the largest online stores in the world.
International trade is one of the most important impacts that technology has had
on the global business environment. With the advancements in productivity
better goods and services are now being produced. These goods and services
can be sold to countries where they could be in high demand and such goods are
not readily available. To further assist in this field, advancements in fields such
as the airline and ship building industry has greatly helped. This allows these
goods and services to the transported abroad. With the establishment of free
trade and international bodies such as the World Trade Organization (WTO)
and the North American Free Trade Agreement (NAFTA), international trade
has been seen to rise in many countries. This has improved the standard of
living of many countries as a major advantage could be that a larger variety of
goods and services are readily available.
It has become easier than ever to start up a business than ever before. Along
with the basic factors of production, a sufficient amount of money, an internet
connection and a few up to date computers almost anything can be done. Orders
for goods and machines can be placed online and virtual showrooms can be
view on the internet. Clothes, shoes and almost all accessories can be bought
and sold using computers and the internet.
Even though, technology can have a lot of benefits on the global business
environment, it could have a large number of drawbacks creating problems for
the society, businesses and governments.
A major drawback could be that too much international trade could lead to a
balance of payments deficit. A constant deficit could mean that other countries
may after some time may not want to trade with that country anymore. A poor
balance of payments could reduce the standard of living and the gross domestic
product (GDP). Many countries relying on their exports could now also face
problems. Businesses exporting their goods could see the demand for their good
falling reducing profits. One deficit could lead to a chain of problems for the
business as well as the country.
Hacking as a result of advancements in internet and computers has led to many

hackers or cyber criminals breaking in to computers and servers by gaining
administrative controls (Bruce Sterling 1992). Gaining access to peoples secret
files, bank account details, company accounts are some serious examples.
Hackers have even hacked people’s social networking accounts on Facebook
and MSN gaining access to their private photos and videos.
iTunes is a media player used for playing music as well as one of the worlds
largest online music purchase software. SoundJam MP, developed by Jeff
Robbin and Bill Kincaid and released by Casady & Greene in 1999, became the
basis for iTunes when Apple purchased it in 2000 (Bill Kincaid 2007). The
problem for this type of technology is that people instead of purchasing music
legally if not from iTunes, from any other legal source have now downloading
music and movies illegally. Pirated copies of movies and games for Microsoft’s
Xbox can now be downloaded using peer-to-peer downloading software.
Mobile phones even though are wireless could face issues such as poor signal
coverage and poor battery performance at very odd times. The radiation caused
by a mobile can be seen as an important health hazard. As of June 2009 there
were over 4.3 billion users worldwide who had been affected by radiation.
Mobile phones use electromagnetic radiation which researchers believe may be
harmful to human health.
Another disadvantage of technology could be with more and more machines

used these days, less workers are needed to complete the same task. In many
cases one machine is simply performing the task of a couple of workers. This
may reduce labour costs for most businesses but it is increasing unemployment
in many countries. People who may have found a good enough job with a
certain skill may find it hard in the coming years to do the same job with the
advancements in technology. Unemployment has further disadvantages on a
economy. High crime rate, fall in gross domestic product (GDP) as well as a fall
in the standard of living are some of the major issues.
The above essay first looked at the history of technology and then outlines the
benefits and drawbacks of modern technology on the global business
environment. These were some of the advantages and disadvantages of modern
technology on the global business environment. It can be clearly seen that there
are more than twice as many advantages than disadvantages. It is obvious that
technology has led to globalization and industrialization which on their own
have made the world a better place, and with more time, will come more
advancements and better technology, and one day most of the disadvantages of
modern technology could further be countered by modern technology itself.

Technology

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Technology is as defined in the Merriam-Webster dictionary is ‘the practical

application of knowledge especially in a particular area’ and ‘a capability given

The use of technology nowadays is tremendous. Modern technology has

Modern technology has led to vast improvements in production. The output of

The internet is a worldwide system of interconnected computers, joining

Hacking as a result of advancements in internet and computers has led to many

Another disadvantage of technology could be with more and more machines

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