Impact of Communication Technology on Globalization

You see an advert on TV, and decide that you want to buy the product. You call on the number mentioned on your TV screen and get to speak to a customer service agent. The agent gives you the product details, verifies your address, takes down your credit card details, and gives you the time-frame by which the product would be delivered to you. You receive the product in a couple of days, and life goes on as usual. But, if someone told you that the product that you just received was manufactured in England, packaged in China, and delivered to you by a Korean company, you probably would be amazed. And on top of that, the agent that you spoke to was not in Boston, but in Bangalore, India, which is some eight and a half thousand miles away from where you are, you must think, is this the world for real! This is just one of the examples in which communication technology has precipitated globalization It has played a major role in making the world a global village and it is widely believed that globalization would have been a dream without the help of communication.

Globalization and Communication Technology

Globalization is dependent on communication technology, and communication technology is in turn dependent on globalization. Various reports over the years have concluded that communication technology will become one of the vital components in governance, and lead to a more transparent public administration system. Already, America and majority of countries in Europe have implemented a governing system that is based on the sharing of data and information and many developing countries like India, China and Brazil are following suit. Experts are of the view that putting a strategic communication technology system in place will help the developing countries to get better access to information from developed nations, and this could help them to compete in the world economy. Governments can now exchange data, research, analysis, and reports with each other on a real-time basis and this has led to increased cooperation between nations.

Globalization would never be complete without the exchange of information. Multi-national companies like Coca-Cola, McDonalds, Nike etc. rely on a fast and reliable communication system to enable them to monitor their overseas activities. Communication technology allows an organization to get the latest updates from different parts of the world where its business is located and also allows them to have an increased regulation. The latest innovations in web-conferencing have made it possible for businessmen to interact with each other in a better way. The developments that we have seen in the business sector would have never been possible without the presence of an effective communication system. One of the prime examples of the impact of communication on globalization is the surge in outsourcing that we have seen over the last decade of so. Most of the US companies have saved around 30% to 50% of their costs by taking their back-office, billing and customer services off-shore. These developments have made managers to work closely with their counterparts from other countries, which apart from a business perspective also gives them an opportunity to understand each other's cultures in a better way.

The impact of communication technology on globalization can be seen in the education sector as well. There are a lot of students who are now able to get access to information through Internet. Students can now get certifications from foreign Universities by completing an online program. The innovations in communication technology have brought a marked difference to the way education is imparted and has led to an improvement in the quality of education.

It is now possible for you to transfer money to your friend through a click of the mouse. You can travel to foreign countries without carrying any cash. The impact of globalization on banking industry has been prominent and today we can see various banks being streamlined through effective communication channels. The innovation in communication technology has also led to the globalization of banking industry as leading banks from all over the world now have their offices in almost every country of the world.

While the impact of communication technology has been overly positive, it has led to certain challenges. There is a wide disparity when it comes to access to technology between developing and developed nations. The developing nations do not have a proper infrastructure in place which, and this has created challenges for a lot of people in these countries. This can be disadvantageous to the developing countries and can lead to economic disparity. Many are of the view that advent in communication technology has given more power to certain countries while making it difficult for others to compete on a global-scale. Globalization cannot be exclusive as it encompasses the whole world and it is important that corrective actions are taken to ensure that weaker sections of the society are not neglected. There has been a lot of progress in the last few years and developing countries like Nigeria and Kenya have started to take steps to encourage their people to be acquainted with the latest developments in communication technology.

It is important to remember that there are various factors that have contributed to globalization and communication technology is just one of them. However, communication technology has played one of the most important roles in spreading globalization. The concerns that are associated with the disparity can be countered by making further innovations in communication technology.