Information and Communication Technology (ICT) and Globalization

Authors : Deepak Jyoti

Volume/Issue : Volume 6 - 2021, Issue 5 - May

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Scribd :

Information technology is the backbone of globalization. It is also the integral part of business strategy of any company. It benefits the business by bringing it into the global market. Modern globalization does not have any well defined timeline as to when did it first happen. It is an ongoing process. Indeed, being a well integrated mixture of social, political, cultural and business system at a worldwide level. The true essence of globalization is in it’s worldwide integration of goods, services, capital and economic activity at a large scale. Despite the integration being new, it is seen to have a profound effect on the global business environment.. The new technologies by changing the existing practices, will create new ways to improve business strategies for the companies. .Use of internet by both the companies and the population at large plays a pivotal role in the accelerating the process of globalization by enabling the safe exchange and sharing of knowledge and information almost instantly across the globe. Due to globalization resulting in easy communication among various sectors worldwide it bought profit among business causing the global expansion. Providing better means of communication and information just a click away, enabled the companies to look up for cheap yet efficient labor and manufacturing cost, and hence an global profit. Information technology being the backbone of globalization is successfully creating the globally connected world. In this changing era it becomes all the more important for the businesses to adapt and grow with this so as to be able to stand apart in this highly competitive environment of globalization.

Keywords : Globalization, ICT, Business, Technology, Internet.


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31 - May - 2022

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