Flashcards in 3.1C Picadilly Village Deck (13):
Globalistaion has increased in the 21st century because of...
Because of the rapid development of ICT.
The 5 main drivers of 21st century globalisation
The advancement in technology ...
has made it easier for there to be a flow of thoughts and ideas around the world without travelling, hence, lowering communication costs.
ICT aims to increase growth of the economy....(+)
§By these stages
1.Developing ICT so that there may be efficiencies in communication
2. Therefore, there will be a small profit margin
5. EVENTUALLY GROWTH OF ECONOMY!
Advantage of ICT (+)...
Free market then enables competition between business ,which may lead to people buying more products.
Another advantage of ICT.....
Businesses and people are able to connect and collaborate more easily.
1990's (TIMELINE OF DEVELOPMENT OF ICT)
Hardware and software infrastructure (for example the introduction of http://www.)
1.E-commerce (which is selling things through the internet)
2.a rise in social media platforms-which may also have lead to lifestyle changes, for example instead of going on holiday you could Skype your family more often.
Big data (4G Data)
outdated role for global brands
2. 30 Billion devices : $2 trillion IoT services(Internet of things- and other devices that have embedded electronic softwares like smart devices)
3. UK £69 billion E-commerce (40% export)
Advantage of online markets
allowed small businesses access to global customer base.
Businesses have changed the way they operate
This because :
the volume of sales and innovations of warehousing have bought costs down for consumers and companies. This then enables the new digital marketplaces to put pressure on other suppliers to reduce their cost and speed up delivery of stock.