Class notes
Growth in international business
- Course
- BBB4M
- Institution
- 12th Grade
Written with Virtual high school (VHS)
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Accessing technology and using it is one of the best ways to grow your business and makethe services you do easier for people. Some ways this is done is by using AL chat box solutions,
this feature makes it easy for people to get answers to their questions using an online platform.
Aside from using AL chat boxes to help people without actually being there, technology makes
communication faster, saves money on the costs of labor, better marketing ways and more
(Cybergrace, 2021)1. Technology is used to make communication faster and easier by the ability
to send messages, emails or even have meetings with anyone across the world just by knowing
any contact method. This would sometimes help in getting a business deal faster instead of
meeting in person which may not be possible at times(Cybergrace, 2021)2. Businesses are also
saving money instead of giving it to people as salary, this is done by using robot machines which
give manufacturers the same result as people. Businesses choose to work with machines instead
of robots since they can work for hours and robots do not have to work in multiple shifts like
people do (Cybergrade, 2021)3. Business owners use social media to promote their business and
attract curious people to come and work for them. Aside from this, using social media means
anyone from anywhere in the world can see what you do. They can contact you and possibly help
your business grow.
Focusing on technology can also help companies trying to compete on the global stage in
a variety of ways. The first way is by using proper software that is required for the job at hand
(Potts, 2015)4. Having a proper and smooth computer system definitely sets a company apart
from everyone else. If everyone is able to get access to documents and software quickly, this can
increase productivity, teamwork and other factors that would let you down. If you have an
organized system of inventory, you can track shipments and customer orders and fix any
problems that arise as quickly as possible (Potts, 2015)5.When this is done, people enjoy your
service and get products and services more from one company than any other. This would help
you slowly grow and expand around the world. Updates or news about anything can also be
found online. Companies can find plots for sale to expand, they can find people to work with that
do the same service as them. Companies can also find news about products or services others
wish existed. They can be the first to invent a revolutionary product or service that people were in
need of. For example as a student, I wish I could have a reliable website where you can get
answers to questions without signing up for an account, paying money etc. If I did find such a
product or service, I would share it with others. If this product or service is a success, the
company may get an invitation to open a branch in any country or place and serve the people
there. This would help to make them known among all other companies and slowly rise to the top
day by day.
One of the trends found in the article is “ A slowdown in innovation due to heightened
risk aversion and a paucity of risk capital.” The first part of the section is referring to how slow
innovation of any product or service in the company will be because people are not willing to
take risks of hard jobs. Since people are not willing to take risks or do the hard tasks that their job
requires them to do, the innovation or creation of products and services is very slow. This will
impact the growth of the company slowly and will make them not known anymore. Other
companies have people that are willing to take risks, this factor sets them apart from everyone
else. The people who are willing to take risks will create and put their products and services in the
market quicker than any other company. If this product or service gets known and the cycle
continues, people will slowly forget about their previous favorites and purchase from the new
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