Reaping The Benefits Of Globalization And Technology

By: cathy

In this era of rapid technological advances, the business sector has done well to adapt and exploit the enormous advantages of scientific and techno-innovations to improve their operations and bottom line. Technology gave birth to several innovations in telecommunications such as the local and international direct dial telephone system, fax machines, computers, and the Internet. These innovations are used to improve the performance of business organizations in terms of operations and marketing. Through these innovations, business have faster and wider reach in terms of sales, services, and advertising.

Moreover, business organizations have also made possible the exchange of cultures and ideas across the continents. At no other time in human history has the exchange of goods and ideas been more prevalent as it is today. The world had become “flat” in terms of how information is shared and received; how business and trade is done; and how people from different countries interact with each other. Science and technology has broken down walls and divisions that have kept many countries and people apart.

In the early days of globalization, people were afraid that it would usher in an era of unprecedented monopoly and control over the world economy by a few powerful, industrialized nations. After economic safety nets were put in place, it is now possible for small countries to gradually penetrate the market of the larger, more advanced nations. Through technology, smaller nations can now “play in the big leagues” that were traditionally dominated by the economic giants and superpowers.

In business, bountiful benefits are still being enjoyed by many companies as a result of technological research and innovation. For example, the Internet has made it possible to communicate with other people and companies across the oceans in real-time. It has enabled trouble-free communication during a business meeting or in the middle of a business production process. The Internet became an integral part of doing business, changing the way transactions are made between individuals and companies worldwide. The Internet has allowed business organizations to go beyond many boundaries in the way they communicate and conduct business.

Indeed, the Internet and the phenomenon called globalization revolutionized the way business and trade is done. The Internet and globalization gave birth to new industries such as Business Process Outsourcing or BPO. The BPO industry actually includes many business such as the contact center services, accounting services, web-design, and other back-office services. The contact or call center is the most rapidly expanding segment of the BPO industry. Contact centers are centralized offices that are established for the task of receiving large volumes of inquiries by telephone. These companies also offers low-cost customer service and sales. Tele-messaging, order collection, and outbound calls are also some of the usual functions that are performed by call center companies. BPO companies also design solutions based on the companies background and business needs. These providers evaluate companies to see if they possess the right technology and process to achieve their target goals and outputs. To reduce operating costs that come with the use of new technology and the hiring of additional personnel, many companies today choose to outsource many of their business production requirements.

One example of outsourced business operation is the virtual receptionist solutions, which is a group of people who answer telephone calls and divert these calls to the appropriate office or individual. This solution also allows companies to take in messages from clients, customers, and partners even after office hours. giving small businesses a chance to market themselves 24/7. Virtual service solutions services includes voice-activated call transfers to employees; voicemails with unlimited mailboxes for employees; and voice mail sent by email, phone, and Internet. In addition, this type of solution provides the caller with general company information like the normal office hours and driving directions.

Time, distance, and geography are fast becoming irrelevant when it comes to doing business due to globalization and technological advancements. The good news is, these sweeping changes have also helped companies to improve their profitability and expand their market reach.

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