Author Question: List a few economic, cultural, and technological changes that take place due to globalization ... (Read 87 times)

EY67 · **on:** Jul 7, 2018

List a few economic, cultural, and technological changes that take place due to globalization enabled by information technology.

What will be an ideal response?

Question 2

Which of the following statements explain mass customization?

A) Firms tailor their products and services to meet a customer's particular needs on a large scale.
B) Firms immediately provide communication to and receive feedback from customers.
C) Firms provide ways for clients to conduct business online without human assistance.
D) Firms market their products and services over vast distances.
E) Firms link Web sites to corporate databases to provide real-time access to personalized information.

shewald78 · **Reply #1 on:** Jul 7, 2018

Answer to Question 1

The effects of globalization can be seen in many ways, such as the greater international movement of commodities, money, information, and labor, as well as the development of technologies, standards, and processes to facilitate this movement. Specifically, a more global and competitive world spurs visible economic, cultural, and technological changes, including the following:
1. Economic Changes - Increases in international trade, in the development of global financial systems and currency, and in the outsourcing of labor.
2. Cultural Changes - Increases in the availability of multiculturalism through television and movies; the frequency of international travel, tourism, and immigration; the availability of ethnic foods and restaurants; and the frequency of worldwide fads and phenomena such as Facebook, Groupon, Twitter, and YouTube.
3. Technological Changes - The development of low-cost computing platforms and communication technologies; the availability of low-cost communication systems such as e-mail, Skype, and instant messaging; the ubiquitous nature of a low-cost global telecommunications infrastructure like the Internet; and the enforcement of global patent and copyright laws to spur further innovation.

Answer to Question 2

A