The Second Key Driver Manipulating The Spread Of...

The second key driver manipulating the spread of globalization is technological change. The reductions of international trade and investment barriers made globalization of markets and globalization of production a theoretical possibility; technological change made it a visible reality (Hill, Cronk, Wickramasekera, 2014). Over the years, there has been major technological development. There are three major technological advancements, include microprocessors and telecommunications, the internet and the World Wide Web and transportation technology (Hill, Cronk, Wickramasekera, 2014). The microprocessor and telecommunication revolution is the one that cause the most significant effect which they allow users to communicate to each other through simple processes; these include satellite and wireless communication. Developments in communications and microprocessors have reduced the cost of global communication and hence the cost of coordinating and managing a multinational corporations. The second advancement is the internet and the World Wide Web. In 1990, there were fewer th an one million users of the internet, but in 1995, there were 50 million users and more than 2.4 billion users in 2011 (Hill, Cronk, Wickramasekera, 2014). The internet and the World Wide Web could be considered as an equalizer which it reduces the differences of location, scale and time zones. Therefore, it makes the demanders and suppliers to identify each other easily and provides the opportunities ofShow MoreRelatedThe Impact Of Globalization On Business Activity Communications And Movements Of Individuals Over The National, Political And Geographic Boundaries1401 Words   |  6 Pagesto Hill, there are two main facets of globalization, includes globalization of markets and production (Hill, Cronk, Wickramasekera, 2014). 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