Global business, Balance of Payment and trading blocs
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1. What are some of the technological advances in telecommunications and transportation that have impacted global business in the last decade? How have these technological advances affected regional economic development? What trends can be anticipated in these areas?
2. What techniques are available to correct Balance of Payment Deficit or Surplus?
3. What factors contribute to the formation of Trading Blocs? How can a person evaluate the attendant benefits of trading blocs?
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Solution Summary
One of the most important advancement in telecommunications is the development of mobile/cellular or satellite phones, which has made it sure in today's world that a individual is connected all the time and can be contact anytime irrespective of his physical location.
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1) What are some of the technological advances in telecommunications and transportation that have impacted global business in the last decade? How have these technological advances affected regional economic development? What trends can be anticipated in these areas?
One of the most important advancement in telecommunications is the development of mobile/cellular or satellite phones, which has made it sure in today's world that a individual is connected all the time and can be contact anytime irrespective of his physical location. The mobile phones have immensely helped global businesses by improving the speed at which communication can be made between people. It has greatly reduced the delays in transactions and negotiations between corporations, individuals and countries located far fro meach other. Another significant development in telecommunications is the development of internet based telecommunication methods such as Voice over IP technology, which has significantly reduced communication costs between countries. VOIP has pioneered in providing low cost communication solutions to global businesses and has been a ...
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- BCom, SGTB Khalsa College, University of Delhi
- MBA, Rochester Institute of Technology
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