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Technology has revolutionized the way we do business. From simple devices like the calculator, to complex systems that allow for global communication, IT has made it easier for companies of all sizes to function. It’s difficult to imagine a world without these technological advances however, they carry many responsibilities. Hacking and other malicious actions could cause disruption to the operations of a business. It is important that businesses are aware of these tools and use them responsibly.
Today, business owners utilize various tools and technologies to streamline processes and provide support employees and customers. Numerous softwares automate tasks like recording and data collection. These tools can also be utilized to calculate vacation leave as well as track attendance of employees and calculate monthly salaries. In addition, cloud technology lets companies store and access data on third party servers via the internet instead of purchasing and maintaining expensive physical infrastructure.
Digital technologies are also transforming international business (IB). Digital platforms allow companies to provide IB services – including purchasing, production, marketing, logistics, and communications across national borders. This lets businesses disengage processes, shifting costs and operations from the firm’s own operations to complementors, customers and other parties at home and overseas.
The IB community has long recognized the significance of these innovations and has developed a variety of strategies to help facilitate their acceptance. IB is still facing issues that arise with these new capabilities.