GROWTH IN INTERNATIONAL BUSINESS

multiple topics relate to growth in international business however for this task only one of the topics will be explored into greater detail...

Explain 'FOCUS ON TECHNOLOGY' first with an overview on the topic please and include any relevant definitions-Explain how this factor affects companies trying to compete on the global stage-

How this factor affects companies' business within the context of globalization-

Analysis of one of the four trends named in the knowledge economy article

 

Article: Information Society: Which Way Now?

2012

 Andy Wyckoff, Director, OECD Science, Technology and Industry Directorate

 

(article)

 

and how it might impact a business in terms of its growth

Profile of a Canadian company that has been affected by your topic of choice, including a brief description of its core business and specifics of how it has changed and/or grown

 

please have proper citing

Explained below.

Step-by-step explanation

Technological advancement in a country means that the level of technology e in producing goods and services has been improved then it it was produced in past. Advancement in technology will lead to production of greater number of goods and services in the economy at lower cost. As a result, level of production in the economy will increase which leads to higher amount of output and national income. Therefore, advancement in technology will lead to economic growth of a country. On a global stage, most technologically advanced economy has the higher rate of growth of output because they can produce more output and export more in the world.

There are many trends that emerges due to the development in the knowledge level of the economy. One of the these trends is that the increase in knowledge level will lead to a decrease in the innovation level in the economy because peoples are risk averse and resist themselves to take risk. As a result, innovation level in the economy decreases and economy will grow at a slower rate.

For example: Canadian airlines is there second largest airline in Canada that established in year 1987 and operated till the year 2001, The company has been shut down in year 2001 because of the fact that this airline company will not be able to innovate at the right time.