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How would each of these realities impact your business?

Each of these realities impacts business in various ways. The globalization and developments in various technologies have helped businesses to grow outside the boundaries of countries. It has made world a single market place. The overall economy has seen transitions from agrarian based economy to manufacturing, services and at present knowledge based economies. Almost all the economies in the world abide by the rules and regulations imposed by the international agencies like World Trade organizations and regional agencies.

Liberalized markets have allowed investors to invest outside their country and operate profitably. This has enabled capital movements in different parts of the world. Thus capital movements have replaced trade as the driving force of the world economy. In such case all the countries are working together for the development and growth of world economy along with their individual goals. This has made world economy a dominant factor. The availability of internet and e-commerce facilities has enabled faster communication exchanged in this information age.

Which reality do you believe is having the largest impact on the World Economy to date? E-commerce has definitely the largest impact on world economies. It enabled faster information exchange and funds transfers. Internet diminished the time and space barrier

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and helped companies to work across the borders and irrespective of time differences. E-commerce has completely changed the business models of world economies. Companies are using e-commerce for administrative as well business purposes. It has provided them a virtual presence and helped reaching larger segment of consumer groups.

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