Importance of Technology
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The global marketplace has been impacted by technology recently. Discuss how technology has impacted the legal aspects of the purchasing process. Has technology also affected the ethics of purchasing?
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Solution Summary
The importance of technology are determined. How the global marketplace has been impacted by technology recently is given.
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Importance of Technology
From a legal standpoint, the purchasing manager is granted the right to operate as the legal arm of a company for all purchases made. Unless otherwise stated this gives the purchasing manager express, implied and emergency authority to conduct purchasing operations for the organization they represent. Technological advances have both automated and complicated this process immensely.
The Legal Complications
On October 1, 2000 the federal Electronic Signatures in Global and National Commerce Act (ESGICA) also known as E-Sign, went into effect marking a technological advance that made purchases possible around the world via the internet (Yahya, 2011). The rise of technological advances has not only opened the door for purchases worldwide on a massive scale unseen ...
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