The Pros And Cons Of Digitalization

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Globalization is a term used to describe a process where governments, companies and people interact together. International trade and investment together with information technology are the driving force for the globalization of multinational companies. It creates a platform for companies to offer customers a chance to serve themselves in their own likes and tastes. The digital revolution has had a big impact on how people and companies trade. Companies such as Google and eBay have taken advantage of global markets, as they receive more revenue outside their mother countries. Globalization process has several aspects that fit into it. Political, social, and technological aspects are the key factors for this increased interconnectivity between…show more content…
Digitalization, virtualization and personalization has made collecting, processing or transmitting data or voice anywhere possible. Companies started off by forming websites that customers would login to and buy products and services online. This prompted extensiveness and allowed customers from all over the globe gain access to their merchandise by just a click of the mouse. With this, most companies were able to provide customized and specialized services to their clients by actually offering them a chance to serve themselves as the please and to their tastes. It is with this approach that companies are able to evaluate their customers’ needs, as well as theirs, in a way that only qualified as a dream…show more content…
Firstly, the Internet provides a platform for everyone to air their views irrespective of their positions in the community. Secondly, the mode of communication provided by the Internet allows for direct feedback as it is a two-way flow of communication. Communication, irrespective of the cultures participating in the trading exercise or any other activity, is a crucial tool when it comes to trade. It forms the backbone of success in trade, hence trading parties must learn to value the vital role it plays. The Internet is also fast and this is greatly beneficial to companies, especially in times of crisis when quick responses and feedback are

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