New technologies such as artificial intelligence, blockchain, the Internet of Things (IoT), etc. are redefining business processes around the world at a rapid rate and resulting in both great opportunities and challenges for businesses. Though these technologies are extensively being used in developed countries, emerging economies are also not far behind.
Disruptive Technologies in International Business advances the understanding of technological applications in business within an international paradigm. With its in-depth discussions of diverse topics such as the global value chain (GVC), environmental risk management, IoT, Surface Mobility, and anime, the book argues that technologies offer many advantages but there are accompanying risks, challenges, and disadvantages as well. The need of the hour is to address the impact of these technologies on the environment, society, and economy of the world. This book offers a collage of insights on how these technologies can potentially change the playing field in businesses and countries and contribute to the betterment of society.
This book will provide business practitioners, international organizations, government officials, and policy makers with inspiration and new leads toward more efficient systems, policies, and operational frameworks in our increasingly technology-driven society.
1) New age technologies and disruption of globalization
Technology is one of the key drivers of globalization. Recent advances such
as artificial intelligence, blockchain, cloud computing, big data, and data
analytics have revolutionized the international business landscape. This
chapter will summarize how such breakthrough technologies have disrupted
international business.
Alka Maurya, Amity University, India, and Mark Munoz, Millikin University,
USA
2) Smart contracts and international business
Smart contracts are transforming international business operations.
Blockchain based smart contracts facilitate international business operations
by adding trust and transparency to transactions. This chapter evaluates how
smart contracts are now increasingly being used by global companies to
connect with their stakeholders and share vital information on a real time
basis.
Eve Man Hin CHAN, Technological and Higher Education Institute, Hong Kong
3) Technopoles, factories of the future and innovation districts: The
socio-spatial reorganization of international business
In order to meet the challenges of the global economy, many countries have
resourced infrastructure development in the form of industrial corridors (for
example, in India), and re-territorialization via megaregions (in China).
Simultaneously, a significant reorganization of production is taking place by
making use of new technologies, particularly AI, in technopoles, factories of
the future and innovation districts. Cities and regions are witnessing the
relocation to urban areas of advanced manufacturing and high tech corporate
activity. Factories of the future in technopoles and innovation districts
constitute new megaprojects that significantly alter the urban fabric and the
socio-economic structure of entire neighborhoods. In turn, many urban
megaprojects concentrate innovative corporate functions and activities. In so
far as these new centers of corporate activity are located in cities,
megacities, megaregions and urbanized areas, corporate strategies have a
direct impact on urban sustainable development. In this context, a new
spatial reorganization of production places urban areas at the core and
presents formidable challenges for sustainability: they both enable and
constrain it in urban areas on an unprecedented scale.
Gerardo del Cerro Santamarķa, Member of the European Union Expert Group in
Regional Policy (Regio Program) and a United States Fulbright Award Recipient
in Urban Planning
4) IoT, smart cities and international business
The focus of many governments across the globe is to transform their cities
into smart cities due to the inherent advantages of such a transition in
contributing to a greener planet. This chapter will focus on how newly
developed smart cities are contributing to the flow of goods and services
from one country to another.
Sandhya Sastry, Faculty of Business & Law, University of West of England,
Bristol UK
5) 3-D printing and international business
In an era when the whole world is talking about sustainability and different
methods of reducing and recycling waste material, 3-D printing has emerged as
a choice for many global manufacturers, though its usage is at very nascent
stage in some developing countries. 3-D printing helps in eliminating waste
material by reusing it in another process (Berman, 2012). Whatever materials
are used in 3-D printing have either been converted into a manufactured
product or used for recycling. The important functions of 3-D printing
technology include improving the standards of production, shortening global
value chains, increasing foreign direct investment and boosting international
trade in raw materials etc (Petersen, 2019).
In this chapter, the author will discuss the concept of 3-D printing
technology and how and where it has been currently utilised. The author will
also discuss the importance of 3-D printing in international business keeping
in mind sustainability goals. In this era of globalization, 3-D printing
technology can bring new changes in overall manufacturing and production
process. The writer will also explain the key functions and importance of 3-D
printing for modern day entrepreneurs. The future possibilities and
limitations of this technology will also be discussed.
Anuj Kumar, Bharati Vidyapeeth Institute of Management & Research, India
6) Blockchain and secure payments in international business
Payments have always been a problem area in international business
operations. Even though letter of credit are considered the safest mechanism
to realize payments in international trade, multiple cases of fraud still
occur. Blockchain is a key technology for adding security to the entire
process.
Purvi Pujari, Bharati Vidyapeeths Institute of Management Studies and
Research, Priyeta Priyadarshini, Bharati Vidyapeeths Institute of Management
Studies and Research
7) Blockchain and global value chains
In international business operations manufacturers/suppliers are located in
many different countries.. The effective management of global value chains is
critical for companies to remain competitive in the international business
landscape. This chapter provides information on how blockchain facilitates
the effective management of global value chains and provides vital
information about all the intermediaries involved in the entire production
cycle.
Geetha Subramaniam, Faculty of Business and Management, Universiti Teknologi
MARA, Selangor, Malaysia, Nur Zafira Akma Rozlan, Faculty of Business and
Management, Universiti Teknologi MARA, Selangor, Malaysia & Shobha
Subramaniam, School of Law, Western Sydney University, New South Wales,
Australia
8) Blockchain and documentation in international business
Blockchain is widely used in international business for payment processes,
supply chain management and logistics. Global companies now rely on
blockchain technology in their global business operations to ensure safety
and reliability at all stages of business operations. Blockchain technology
is used by companies for issuing certificates of origin, and also in other
export documentation such as
Bill of Lading etc. Export documents backed by blockchain technology
facilitate custom processes thereby controlling illicit trade as well.
Dr. Md. Nur Alam Siddik, Associate Professor, Ex-Head of the Department of
Finance and Banking, Director, Office of the Student Affairs, Begum Rokeya
University, Bangladesh, Suresh Iyer, Global Management and Academic
Consultant, Archie DSouza, Dayanand Sagar University.
9) New divisions of labour under Industry 4.0
Industry 4.0 refers to the new forms of production that rely increasingly on
automation and the introduction of sophisticated cyber-physical systems.
These production systems are re-revolutionizing existing divisions of labour,
which have already been revolutionized by the spread of globalization.
Changes come both in terms of what work humans will be still required to do
and of social and gender relations within the workplace. New competencies and
skills are required in skilled positions, with physicality and actual
location becoming less important, although both will remain significant in
the many low-skilled and low-paid jobs that will persist. It is already
possible to discern changes in divisions of labour in some places of
production, with factory automation having restricted human input to
marketing, design and control, in addition to maintenance and servicing. It
is also evident in the general movement in both the private and public
sectors towards the modularization of work, which has seen more and more work
functions outsourced and the provision of services coming from the precarious
gig economy. These changes have wider impacts in society and may be seen in
family structure, urban design and housing policy. Most governments are
currently under-prepared for the changes that are already taking place and
require better and more informed policy suggestions. As the current division
of labour has led to different countries becoming specialized in different
stages of production, inequality among societies is likely to be intensified
as similar work functions are affected in close order in different parts of
the world. This chapter provides an overview of these changes and the effects
they will have on people in all categories. It aims to go beyond the factory
to examine the changes that will affect people as members of families,
communities and societies. In looking forward to inevitable future change, it
interrogates the possibilities that policies such as universal basic income
will offer fairer ways of ensuring personal security and social solidarity.
John Walsh, RMIT Vietnam
10) E-Business and international trade
This chapter focuses on how e-business has helped in integrating small and
medium-sized organizations in the international trade process. Small and
medium-sized enterprises previously faced enormous barriers to venturing into
the international market as they were not capable of handling huge orders.
Companies like Amazon, Alibaba and others have facilitated e-business for a
large number and SMEs to sell their products to consumers globally. Millions
of SMEs in China could grow their businesses manifold by offering their
products on the online portal of Alibaba. Similarly, Amazon has also
supported SMEs with its innovative services like fulfilment by Amazon,
wherein with minimum efforts, small companies are able to sell their products
in the global marketplace
T Mongke, Lecturer, Department of Marketing, University of Botswana, Faculty
of Business, Botswana
11) Digital marketing and globalization
Reaching out to customers spread across the globe is a major challenge for
global companies. The challenge is not only due to large distances but also
because of the difference in their needs, language and culture. Digital
marketing is one useful tool used to effectively deal with these challenges.
Digital marketing strategies have now made it far easier for companies to
reach every corner of the global marketplace. Almost all companies, from MNCs
to the MSMEs are now using various digital marketing platforms like Facebook,
LinkedIn, Youtube, Instagram etc. to reach their customers and to understand
their needs.T hese platforms not only help in reaching out to the customers
in far flung areas but also help in communicating with them in their local
languages.
Valtteri Kaartemo, University of Turku, Finland, Department of Marketing and
International Business
12) Business strategies of low-tech companies in Sri Lanka in the era of
digital disruption
Rapid technological advancements, ubiquitous connectivity, more powerful and
ever-cheaper computing power, and changes in the behaviour of digitally
connected customers are driving unprecedented disruption and transformation
in virtually every industry today. Such radical disruption and transformation
and its wider systemic effects, frequently referred to as digital disruption,
is attracting substantial attention among both scholars and practitioners
alike. Digital disruption can occur at various levels, disrupting life, work
and business practices, industry structures, and societal systems. It can
pose a threat or provide an opportunity for firms by invalidating existing
business models and result in business model innovations. The theory of
disruptive innovation evolved and is predominantly focused on high-tech
industries in developed economies. However, it is not well understood how a
low-tech industry in a developing economy can cope with and shape disruption,
and innovate and adapt as digital disruption unfolds. Drawing upon data from
four case studies from a low-tech industry in Sri Lanka, this chapter
provides preliminary, yet promising empirical evidence that sheds light on
the further extension of the theory of disruptive innovation to low-tech
industries in developing economies. Highlights of the findings include the
following: build and execute a compelling vision, demonstrate top-level
managements commitment, digital congruence is the crux, adopt a
partner-centric business model, accelerate the speed of innovation and turn
people into the businesss secret weapon:
Thilini Chathurika Gamage & WKAC Gnanapala, Sabaragamuwa University of Sri
Lanka, Sri Lanka
Dr. Alka Maurya is Associate Professor at Amity International Business School, Amity University, Noida. She completed her Masters in International Business from the Indian Institute of Foreign Trade, New Delhi and PhD from Jiwaji University, Gwalior. Her area of specialization is International Business. She has over 19 years experience in teaching, research and consulting.
Dr. J. Mark Munoz is an MBA and PhD in Management at the University of San Jose. Prior to joining the academe, he held senior management roles in diverse multinational organizations. He was a Visiting Fellow at the Kennedy School of Government at Harvard University and former Advisor to the AI Initiative at Harvard University. He is currently a Full Professor of Management and International Business at the Tabor School of Business and the Dwayne Andreas Professor of Business. He teaches Business Creation, International Business, Business Strategy, and International Business Consulting.
Dr. Loveleen Gaur is a professor, Program Director (Artificial Intelligence and Business Intelligence and Data Analytics), Senior IEEE member and Series Editor. She is currently at Amity International Business School, Amity University, Noida and is an established author and researcher and has filed three patents in the area of IoT.
Professor Gurinder Singh is Amity Group Vice Chancellor and Director General, Amity International Business School. He has more than 25 years of experience in strategic management, teaching, consultancy, research and launching new organizations and prestigious projects in India, UK, USA, France, Germany, Australia, African countries, Singapore, Dubai and Taiwan.
