11 Global Business and IT Flashcards
(16 cards)
What is global business?
Commercial activities that take place across national borders, involving trade, investment, and multinational corporations (MNCs).
Q: Why is global business important?
- Economic Growth through increased trade
- Technology & Innovation collaboration
- Job Creation worldwide
- Consumer Benefits (more choices, better prices)
What are the key reasons businesses go global?
- Market Expansion - Access to new customers
- Cost Savings - Lower production costs
- Access to Talent - Hiring skilled employees globally
- Competitive Advantage - Expanding to new markets
- Diversification - Reducing business risks
How does IT enable global business?
- Facilitates real-time data exchange
- Enables automation and scalability
- Optimizes supply chains
- Manages finance and customer relations
What are the key IT technologies in global business?
- Cloud Computing - Remote collaboration and data access
- Big Data Analytics - Real-time insights and forecasting
- Cybersecurity - Data protection and compliance
- Mobile Solutions - Remote work and connectivity
What are the main types of IT infrastructure systems?
Centralized Systems:
- One main system managing global operations
- Better control, security, and consistency
Decentralized Systems:
- Localized IT systems in different regions
- More flexibility and faster local response
How does digital transformation drive global competitiveness?
- Automation & AI improve productivity
- Cloud solutions enable seamless operations
- Customer-centric digital services enhance engagement
What are examples of successful digital transformation?
- Amazon: AI-driven logistics and cloud services
- Siemens: Smart manufacturing with IoT
- Coca-Cola: Data analytics for marketing and supply chain
What are the key aspects of IT governance?
- Cybersecurity and data privacy protection
- Compliance with global standards (GDPR, CCPA, HIPAA)
- Risk management for business continuity
What are the main regional regulatory challenges?
- Europe: GDPR and strict data privacy laws
- USA: CCPA, HIPAA, varying state regulations
- China: PIPL and data localization requirements
Why is cross-cultural communication important in global business?
- Bridges cultural gaps and enhances teamwork
- Ensures coordination between international offices
- Accelerates project success
What are Hofstede’s Cultural Dimensions?
- Power Distance: Acceptance of hierarchy
- Individualism vs. Collectivism: Personal vs. group focus
- Uncertainty Avoidance: Comfort with ambiguity
- Masculinity vs. Femininity: Competition vs. cooperation
- Long-Term vs. Short-Term Orientation: Planning perspective
What are the main challenges in cross-cultural communication?
- Language barriers and misinterpretations
- Different communication styles (direct vs. indirect)
- Time zone challenges in virtual teams
- Non-verbal cue differences
How can these challenges be overcome?
- Cross-cultural training programs
- Language and communication workshops
- Use of collaboration tools (Zoom, Slack)
- Clear communication norms and protocols
What are common IT risks in global operations?
- Regulatory issues across different jurisdictions
- Cyber threats and data breaches
- System downtime and connectivity failures
- Cultural barriers in IT policy adoption
- Supply chain disruptions affecting IT services
What solutions help manage these risks?
- AI-powered risk monitoring
- Cloud security and encryption
- Disaster recovery plans
- Compliance management software
- Predictive analytics for failure prevention
