Technological Advancements that Have Changed the International Corporate Business Model with a, “No Borders Philosophy”
Technology, especially communications technology, has advanced rapidly in the recent years. We now live in a world where the Internet is everywhere and people have the ability to communicate freely and immediately. This has opened up borders and allowed people to expand their horizons. The lack of barriers has also changed the face of business and has encouraged owners to look beyond borders. Here’s what you need to know about the changes:
It’s Easier to Establish an International Presence
Technology has made it easier for business owners to establish an international presence. Some companies can offer their services to a global audience without much initial investment. For example, if you’re a web design company based in New York, you can offer your services to clients in London, Tokyo, and even Sydney without any trouble. You can communicate with your clients and carry out the entire project without meeting face-to-face. You can also ship products to different countries so there’s no need to have a physical presence there unless you wish to minimize the cost burden on the customers.
You can Maintain Teams at Different Locations in the World
Modern technology has removed limitations when it comes to recruitment. You can hire talent from all over the world and even establish teams in different countries to ensure your products and services reach a wider audience. Teams from different locations can easily work together with the help of the Internet. You can store all the information regarding the projects online in cloud and give different teams access to it. There’s no need for the teams to work out of one location to access the information or work on the project.
Communications Technology has Reduced the Need to Travel
Communications technology has reduced the need to visit offices in different locations in order to run a business. You can use sophisticated video conferencing software and the Internet to communicate with the people around the world from the comfort of your office. There’s little need for you to make the trip and waste money on travel. This can help you reduce the amount of business travelling to just a couple of trips a year, which reduces your stress and ensures there’s no disruption of work flow in your company.
Technology had opened new doors but also increased the workload and stress of running a business. Most business owners are forced to sacrifice much of their social and personal lives in order to keep their business running. A concierge can help you keep things organized and on track to ensure you can run your business and still have time for yourself and your loved ones.