Answer three questions Essay Example | Topics and Well Written Essays - 1250 words

Answer three questions - Essay Example The first technological change involved for example movement from use of the keypad to development of touchpad in mobile phones for examples, to ultra-modern laptops that are easy to carry. The second type of technological change that is radical innovation can be associated with the development of high speed magnetic levitation trains. The third technological change of changes in a technological system is more focused on research in science more so on genetics, mostly by pharmaceuticals while the fourth type of technological change of techno-economic paradigm can be associated with advancement in items such as steam power, electricity and ICT (Sassen, 2012). ICT mainly belong to the fourth type of technological change of techno-economic paradigm majorly because changes in ICT have brought about tremendous changes on how economic activities are conducted, changing the face of doing business on domestic Markets by introducing a paradigm shift to global oriented business operations (Sas sen, 2012). (B) Critically Discuss The Argument That ICTs Shrink Time And Space Across The Globe. Bring Examples to Support Your Answer ICT has reduced the time and space in the globe in terms of providing a means of communication between buyers and sellers located in different parts of the globe. Jobs can be outsourced and products exported to foreign markets at short notice (Loebis & Schmitz, 2005). ICT provides input and output in the form of information on the market operating conditions, expectations from market players as well as negotiations. ICT has led to shrinking of time and space by providing the back bone of a 24 –hour global economy in which financial services across different markets worldwide are instantaneous. The financial services in a global perspective are not tied down to a physical location as information forms the main input and output (Loebis & Schmitz, 2005). ICTs have shrunk time and space across the globe by providing technologies that are digital and advanced and make communication between individuals in different parts of the globe instantaneous and seamless (Sassen, 2012). An example of this technology is voice over the internet protocols such as Skype. Computerization of financial services makes geographical location of financial capital less important. ICT continues to form the basis for business process outsourcing (BPO) as it provides the foundation for transfer of business functions such as call center management as well as payroll preparation (Loebis, & Schmitz,2005). Question 2 (a). Can Outsourcing Be The Basis Of Development And Growth For Countries Which Lie Outside The Established Global Processes Of Production? Outsourcing involves contracting of various forms of business functions to external vendors. This is necessary where a firm aims at cutting down on costs such as labor. Examples of business functions that can be outsourced include payroll preparation, billing, call center services and data entry among oth ers. Global players in the outsourcing business include India, Israel and Ireland while countries such as china and Russia have exhibited signs potential growth in the outsourcing business (Linden, Kraeer & Dedrick, 2009). Whether outsourcing can be a foundation of development and growth for countries that lie outside the established global process of production, is hugely dependent on various factors such as the government's vision and policy, the