There is no doubt that scientific advances and technological change have been, are and will remain in the coming years important drivers of the globalization process.
They have been conducive to the creation, distribution and exploitation (in a positive sense of the word) of knowledge in such a manner that they have served as a major source of competitive advantage, wealth creation and improvement in the quality of life.
The growing impact of ICT (information and communications technologies) on globalization can be evidenced by the fact that it has led to a rapid application of recent scientific advances in new products and processes, a high rate of innovation across various countries, as well as a shift to more knowledge-intensive industries and services, together with rising skill requirements.
ICT in particular is a key factor, and has had a strong impact on productivity in several countries, particularly when accompanied by organisational change and better worker skills.
It has also:
¤ helped to improve performance in previously stagnant services sectors;
¤ facilitated communications; and
¤ reduced the costs of transaction;
¤ enabled more extensive networking and co-operation among firms.
The growing role of innovation and technological change can be linked to changes in the innovation process itself.
Innovation also relies much more on networking and co-operation, including between science and industry.
ICT is important for industries that process information, such as financial services, but also for areas such as logistics because it makes more efficient transport possible.
ICT is important for industries that process information, such as financial services, but also for areas such as logistics because it makes more efficient transport possible.
Co-operation in ICT has many potential benefits, which include:
¤ an increased scale and scope of activities;
¤ cost and risk sharing;
¤ an improved ability to deal with complexity;
¤ learning effects; and
¤ greater flexibility, efficiency and speed.
ICT has significantly reduced the costs of outsourcing and co-operation and has thus contributed to the increase in networking among firms.
It is also a key technology for speeding up the innovation process and reducing cycle times.
Source:
http://www.timesofmalta.com/articles/view/20030727/opinion/the-growing-impact-of-ict-on-globalisation.144718
Source:
http://www.timesofmalta.com/articles/view/20030727/opinion/the-growing-impact-of-ict-on-globalisation.144718
