What is the role of Technology …

Technology is the vital force in the modern form of business globalization. Technology has enabled the software experts to work collaboratively over the network with companies from around the world. The technological advancement has helped a lot in creation and growth of global market. Globalisation is a term too easily used without reference to the basic enabling role of technology. It is the interplay between available technology and the prevailing social processes, especially dominant institutional forms, which has essentially determined the long process of globalisation. This process has gone through phases exhibiting varying core characteristics as production, transport and communications technologies especially have interrelated with the institutional structures of nation states, military forces and firms especially. However, a general trend to geographical and tendentially global expansion has been constant, along with an intensification of information processing and communications capacity. The role of technology has been to enable this physical expansion culminating in globalisation, including the techno-industrial capacity that increasingly drove it through the construction of better and cheaper artefacts.