International Business

Chapter 16: Technology and the Future Global Economy

Chapter Summaries

• Numerous communication tools are available to international businesspeople. They include hardware and software of all kinds, faxes and scanners, conferencing systems, and Webcast systems.
• The physical components of a computer system are hardware. Software is a computer program or application used by the hardware.
• Internal communication includes three types: downward, upward, and lateral. External communication systems include the Internet, extranet, Web sites, in-bound telemarketing, and e-mail.
• E-commerce or electronic commerce is the marketing of goods and services over the Internet. It allows for businesses to use multichannel marketing to reach individual consumers and businesses globally through e-tail Web sites, online chat rooms, e-mail, data-file sharing, and other methods.
• The application of new technologies to e-commerce can provide opportunities for career-minded employees who can adapt to change quickly. New technologies include wearable computers, specialized software packages, and e-training programs.