4.4: Impact and Use of Technology in Global Business Operations and Markets

Question 1

Explain the way in which technology can assist a business to expand into global markets

Answer 1

( how )
Technology can assist a business expand into a global markets through:
- marketing through social media campaigns
- adopting faster shipping technology
- implementing safe payment methods
- applying GPS delivery tracking systems
- adopting e-commerce procedures
( why )
As a result, a business will:
- reach new global markets
- improve international customer satisfaction
- enable the transfer of monies between countries and currencies insantly

Question 2

Explain the impact of e-commerce, security and privacy issues on business operation in global markets

Answer 2

( how ) -
Viruses and malware:
- can be used by individuals or groups to illicit information and payment from both customers and businesses
- can be overcome by using secure websites indicated by https: protocols and encryption of data transmission

Theft/fraudulent use of credit card and payment information:
- hacking, viruses and phishing attempts to steal payment information for direct use or sale to a third party
- this can be prevented by using secure payment processes such as PayPal, Visa checkout, Google or Apple Pay

Privacy and storage of customer data and cookies:
- an e-commerce privacy statement displayed when clicking on the website and offering options to track cookies, stating what personal data is being used for, can overcome this concern

( why ) -

Question 3

Explain how a business could use the distribution of products in global markets

Answer 3

( how )
A business can use technology to:
- communicate directly with customers globally through email and websites
- help track inventory and automate distribution in global markets
- aid the transfer of products from domestic to international markets.
( why )
Through distributing a business’s products in global markets, a business can:

Question 4

Explain how a business could use e-commerce in global markets

Answer 4

( how ) -
- involves the use of websites where potential customers can view and purchase inventory
- allows a domestic business to enter global markets without having a physical presence in a target country
- the growth of e-commerce and the use of mobile devices have enabled better communication between staff, customers and suppliers around the world.
( why ) -

Question 5

Explain how a business could use social media campaigns in global markets

Answer 5

( how ) - The collective of online communication channels, which are dedicated to community-based input, interaction, content-sharing and collaboration is defined as social media. It has several benefits for businesses in global markets including:

• Revenue opportunities that arise from a greater access to customers
• Opportunity to enhance brand image by interacting with customers through popular platforms by representing your firm
• Attracting new employees as these platforms allow for promotional activities such as advertising job vacancies
• Research and analytics, as social media platforms offer tools to business accounts to conduct feedback surveys, ‘impressions’ and other valuable metrics
  ( why ) -