GEQ1: How does the development of ICT have positive and negative
impacts on the changing business environment?
No Positive impacts
1 IT Improves Communication: Effective
communication is critical to a company's
success, and IT can help with that. Hiring,
utilizing, and keeping workers in today's
increasingly linked and large company
market need constant communication and
coordinated efforts.
For example, in the Human Resources
department, for example, technology can
streamline benefit solutions and store and
scan applications to efficiently screen
prospects
2 Creation of jobs: The most significant
benefit of ICT has been the emergence of
new and exciting employment in the IT
industry. By enabling new forms of work,
ICT also changes the structure of jobs, the
way people develop their career, and the
way they work. Many ICT-enabled jobs
are temporary or contract-based, for
Negative impacts
Hacking and data loss: Hacking is a fact
of modern life. Almost regularly it seems
the news reports yet another major
company has had files stolen by data
thieves. When this happens, private,
confidential and sensitive information
may be lost, along with the target
company’s reputation. Although some
organizations have been hacked because
of lax data security, others who had good
practices have also been broken into
Training and retraining: The investments
in money and employee time for training
can be substantial. Hours and days spent
learning new to use technology is time not
spent taking care of customers . Also, few
technologies stand still. With constant
advancements in technology, retraining
becomes necessary to keep up with the
 example, leading to a separation of work
from social safety nets such as health
insurance or pensions. Computer
programmers, web designers, and other
professionals have a lot of job prospects
because of technological advancements.
3 Education: Computer’s along with their
programs and the Internet have created
educational opportunities not available to
previous generations.Moreover,teachers
are able to create interactive classrooms
and make the lesson more enjoyable.
4 Globalization: Video conferencing saves
money on flights and accommodation. ICT
has not only brought the countries and
people closer together, but it has allowed
the world's economy to become a single
interdependent system to contact either a
business or family member.
5 Brings People Together: It makes it easier
for co-workers to communicate and
collaborate as they make use of email and
team-chat sites such as Slack and Stride.
Even basic technologies such as email and
text messages speed up response time in
emergencies and allow a more leisurely
latest vendor offerings.
Employees cheats through technology:A
lot of the employees and workers cheat to
their jobs and employment, by sharing
business secret information to the
competitors for money. It may decrease
the loyalty of the people.
Interrupt of working: A lot of the
employees and workers get distracted by
modern technology in their working time.
They start using technology for unusual
things instead of working. They use
technology for entertainment such as
social media, games,etc. Working
performance reduces due to lacking focus.
Over dependence on technology: glitch in
technology can cut off the process of
business. A very good example will be the
importance of the internet for business
transactions. If there is any issue in the
webserver of the online store then it
would be cut off from the customers and
 time frame for less urgent issues. the business process will stop because of
no alternate way of business.

6 Organizes Information: Computers store Overload due to technology: This bond of

and organize information in ways that technology and work at any place
would often take human beings anywhere has increased the overload of
considerably more time. It takes seconds to work. The race of being on top has caused
pull a profit and loss statement using the business employees’ and owners’
QuickBooks, while it might take hours to health issues because they are connected
compile the same report on paper by hand. to the business or work on phones and
The information systems you create using laptops every time. The employees suffer
technology and software are only as good a ton of pressure
as the information you enter into them.
There is no substitute for firsthand
knowledge of how your business works
when setting up a computerized application
to track your operations.

7 Bridging the cultural divide: Increased

access to technology has contributed in
bridging the cultural gap by allowing
people from different cultures to
communicate with one another and share
their perspectives and thoughts, improving
awareness and lessening prejudice.

8 Innovation: In several industries,

technology has resulted in digitisation and
modernisation. Whether in medicine,
agriculture, or electronics, technology has
 ushered in a global revolution.

9 Save cost: Sending an email seems free; it

is, without a doubt, less expensive than
making a phone call. Technology saves
money for your business by saving time,
such as the hours that would be required to
compile reports by hand, ICT has also
helped to automate business practices, thus
restructuring businesses to make them
exceptionally cost effective. In addition,
meaningful and up-to-date information
helps you quickly recognize problems and
opportunities and respond proactively.

10 Protecting classified information: It is thus

preferable to invest in information
technology that includes encryption and
other security features to prevent
unauthorized access to confidential
material.

GEQ2: What are the main types of pressure businesses put on the
natural environment? Suggest your solutions to reduce the pollution in
the changing business environment.

The main types of pressure businesses put on the natural environment

1. Natural Disaster
Natural disasters such as storms, floods, earthquakes, thunder, lightning are the biggest
threat from the environment. All these pose serious damage to a business; it not only
disrupts the supply chain but also can completely destroy a business.
2. Change in climatic condition:
Many businesses such as fisheries and agriculture-related businesses are climate
dependent. The change in temperature and other things cause a serious impact on the
output of these businesses. For example, if you own a seafood restaurant and the
availability of different varieties of fishes is not there it can seriously hamper your
business.
3. Inflation
If there is any direct or indirect increase in the cost of food or supply shortage it is going
to impact the economy. Productivity depends on a climate that channelizes those
conditions where people perform their best. But when there is a change in temperature it's
likely to affect how people will perform their job and that too efficiently.
4. Uncertain cases
The change in it cannot be predicted. Rising sea levels. drought, disease, epidemic
anything can affect it. For example, right now the pandemic COvid -19 is affecting
businesses all over the world.
5. The environment gives back.
The more you harm the environment the more it will harm you. For example, the
greenhouse gas emission which causes the Earth temperature to rise, and other harmful
elements also increase that ultimately will affect productivity and efficiency.

Solutions to reduce the pollution in the changing business environment

1. Treatment:
Before disposal of any waste from the industry, its treatment is very much required so
that the harmful effects of the waste are reduced to a minimum. Industrial waste not only
pollutes water bodies but its effect can be seen on land, temperature, air everything,
hence proper disposal such as sewage treatment, landfills, and other suggested ways
should be adopted.
2. Go Green:
Use as many environmentally friendly methods as possible. For example for electricity
one can switch to the" green power program" that majorly depends upon the renewable
source of energy. This will help in footprint reduction. The core message is to use energy
more efficiently.
3. Three R - Reduce, Reuse, Recycle:
Establish a countywide recycling program, look for ways to lessen your uses. Develop a
better preventive maintenance program to make your equipment last longer and
efficiently. Wear and tear of equipment can cause damage to the environment and hence
proper maintenance must be taken care of. For example, a simple way to reduce wastage
is to print on both sides of the paper. Again the use of non-degradable plastics has been
banned in many places.

4. Near resources:
When you are near resources for anything related to raw materials, or office supplies,
transportation reduces. Transportation of these resources at your door uses energy and
creates various emissions. When you near sources transportation reduces and thus
reduces your environmental impact and also helps to save money as well. Same applies to
employees if they are near to work then the emission by transportation can be reduced. If
you are into delivering products then consider different efficient ways to reduce your
shipping emission.
5. Reduction of waste at the workplace.
Reducing workplace environment impact seems to be a small step but collectively it is a
bigger impacting factor. For example, go paperless, watch your own wastage uses,
Carpool, regular maintenance, and cleaning. All these things will help to reduce
environmental impact.
6. Choose Sustainable Suppliers
Each company also has a responsibility regarding the partners it chooses. Choosing a
supplier is also an environmentally-friendly choice (or not, depending on the supplier).
Therefore, companies should make the effort to choose suppliers who demonstrate they
have good environmental practices.
In fact, companies wanting to get sustainability and CSR certifications such as GRI or B-
Corp often see their operations reviewed. And in the process, suppliers’ operations might
also be accounted for by a company’s own ecological footprint. Therefore, these
companies aspiring certification might even need to ask their suppliers to adopt more
sustainable practices (such as giving proof of not employing children and paying fair
wages or disposing waste properly), or even have to change to more sustainable suppliers
if the old ones refuse to change.

GEQ3: What should global managers do to adapt to the changing

business environment? (focus on the terms of knowledge, skills and
behaviors).

Knowledge ● Accept and utilize technology.

Accept technological change and learn to exploit it to have a good
advantage. Some people, particularly younger ones who are more
technologically competent, are reluctant to explore new technology for
fear of appearing ignorant or old fashioned in front of others.

● Enhancing the Organization's Value

The effort should always be profitable for the organization. If the
managers contribute more value, they will generate a better return on
their job than cost the organization. This is especially true now, when
businesses are keen to find cost-cutting opportunities. Always consider
 if the actions generate value or create expenses for the company.

Skills ● Adapting to a fast-changing work environment requires the

effective use of a lot of skills.
In some cases, it is not only required for your acquired skills, but also
other skills that you might not yet have mastered, or even just begun to
acquire.
=> That why global managers need to build as many skills as they can
before their use becomes essential for organizational survival in the
changing business environment

● Skills required
○ Collaboration skill:
In an international business environment, collaborating with team
members from other cultures is especially beneficial. First, it’s an
opportunity to use and develop business's cross-cultural communication
skills. Secondly, it will expose new perspectives and ways of addressing
difficult business problems. The most inspiring and successful global
manager should collaborators, knowing that collective brainpower can
accelerate company success.
○ Interpersonal influence:
The global manager should develop good professional relationships and
build respect — meaning communication, networking, and collaboration
can culminate in influence. It’s the ability to be assertive, without being
aggressive. In international business, it’s a skill that will serve managers
well in pitching for new business, negotiating deals, and motivating
diverse teams.
○ Excellent networking abilities
Working in international business, developing a strong network of
 connections outside of your home country is essential. A global manager
should have the ability to create a new outside connection. It can open
the door to unexpected business opportunities overseas.
○ Analyzing the uncertainties and developing plans to
address them.
Encourage company executives to look beyond the standard single-
business projection and consider the risks and uncertainties that might
have a big impact on the firm. This simple modification of the well-
known long-range strategy exercise can drive people to recognize and
address what they don't know. The company must distinguish between
"false knowns" (questionable but firmly held assumptions),
"underexploited knowns" (megatrends you may have recognized and
possibly even acted on, but not with sufficient speed or focus), and
"unknown unknowns" (unknown unknowns) (intrinsic uncertainties that
can be prepared for only by hedging the bets).

Behaviors ● Adopt another way of thinking

○ Develop a method that helps people think outside the box,
be creative, and picture the goals. Global managers will
learn a lot from new individuals if they work with them.
○ A change in the way of operating will help the managers
break free from the old stuck perspective.
○ Traveling encourages people to learn about various
cultures, and knowing a new culture helps to extend the
business by allowing you to see things from a fresh
viewpoint.
○ Make a list of any business ideas that come to mind.
 ● Put an initiative on every risk
The majority of businesses have a number of strategic projects. It should
become the motor that propels the company toward adaptability—and it
can, with a few little adjustments. To begin, every important source of
uncertainty should be addressed through a project. The initiative's
purpose may be to respond to a neglected business trend, provide
choices for responding to it in the future, or just learn more about it,
depending on the nature of the ambiguity. Your firm should be as strict
with KPIs, time dates, and responsibilities in managing these efforts as it
is with the product portfolio or the operational plan.

● Consider a variety of options.

It is sufficient to improve what presently exists or to assess single
modification recommendations in a stable context. The simple step of
demanding that every change proposal include numerous alternatives not
only exposes a more diverse and powerful set of options, but it also
legitimizes and encourages cognitive variety and organizational
flexibility.

● Increase the speed of adaptation.

The cycle time of decision making determines the speed of adaptation.
Companies must expedite change in a rapid environment by making
annual planning procedures lighter and more regular, and in certain
cases by making serial processes continuous.
The adaptive strategy isn't a one-size-fits-all solution. If the industry is
steady and predictable, businesses might be better off sticking to the
proven methods of gaining an advantage. However, if the competitive
reality is unknown and changing fast, as it is in an increasing number of
sectors, a dynamic and long-term strategy is needed to stay ahead.
 Building an organization that can harness the four skills that make up a
major part of adaptive advantage might be crucial to business survival.

REFERENCE
1. (“Adapting to change in a changing business environment”)
https://www.fmlink.com/articles/adapting-to-change-in-a-rapidly-changing-business-
environment/
2. 10 Actions Companies Can Adopt To Fight Climate Change
https://youmatter.world/en/actions-companies-climate-change-environment-
sustainability/
3. The Positive & Negative Effects of Technology in Business
https://bizfluent.com/list-6943594-positive-negative-effects-technology-business.html
4. ICTs are creating new jobs and making labor markets more innovative, inclusive, and
global – World Bank study

https://www.worldbank.org/en/news/press-release/2013/09/10/icts-are-creating-new-jobs-
and-making-labor-markets-more-innovative-inclusive-and-global-world-bank-
study#:~:text=By%20enabling%20new%20forms%20of,as%20health%20insurance
%20or%20pensions.
5. Harvard Business Review, Competitive Strategy, Martin Reeves and Mike
Deimler, ‘Adaptability: The New Competitive Advantage’, available at:
https://hbr.org/2011/07/adaptability-the-new-competitive-advantage