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Outline four developments in technology that have facilitated the growth in globalisation. - Leaving Cert Business - Question 3(A) - 2012
Question 3(A)
Outline four developments in technology that have facilitated the growth in globalisation.
Worked Solution & Example Answer:Outline four developments in technology that have facilitated the growth in globalisation. - Leaving Cert Business - Question 3(A) - 2012
Step 1
Design/CAD
Answer
Computer-Aided Design (CAD) has revolutionized the design process. It makes the design work easier and faster, allowing companies to react swiftly to changing global market conditions. This enhancement in design efficiency has significantly contributed to globalization by enabling firms to innovate and bring products to market rapidly.
Step 2
Production/CAM
Answer
Computer-Aided Manufacturing (CAM) involves the use of computers to control manufacturing processes. It integrates systems that allow for efficient control of equipment, providing significant advantages in flexibility and responsiveness. This technological advancement allows companies to manufacture products tailored to different markets across the globe, distributing production capabilities internationally.
Step 3
Communication/mobile technology/EDI
Answer
Technological advancements in communication, such as Electronic Data Interchange (EDI), allow businesses to easily communicate across global markets. EDI facilitates the electronic transfer of data including orders and stock levels, ensuring smooth transactions and efficient operations between different regions.
Step 4
Decision Making/ISDN
Answer
Integrated Services Digital Network (ISDN) provides fast and reliable telecommunication services essential for global businesses. It allows companies to transmit and receive information quickly, supporting real-time decision-making processes. This technology plays a crucial role in maintaining organizational efficiency in a global context.