Friday, September 10, 2010

Historical Overview of International Business

International trade goes back to the earliest days of human history. It was a staple method of one acquiring what one needs without using monetary units. This was brought about by specialization; if someone was good at making clothes, they only made clothes. If someone else was a very good cook, they cooked. The former could trade the latter for their good; this way, each good would be of higher quality than if the same person made both. Soon after this, however, people invented units of trade, such as silks and spices, and these led up to actual money.


It's tough to imagine what life would be like in the business world without modern technology. Bookkeeping, and accounting in general, would be a lot more tedious and difficult. Before, everything was recorded on paper with pencil, using a simple five-function calculator. It required meticulous effort and great attention to detail. If one little mistake was made, whole accounts could be misconstrued and public records would be inaccurate, often resulting in lawsuits and defamation of prominent individuals.


Then came the Internet, and everything changed. Beginning with the late 1980's and moving forward to present day, the Internet has been revolutionizing how all business is done across the entire globe. It has proven to be one of the fastest-developing methods of communication to date, perhaps soon to be overshadowed by cellular technology alone, anyway. It allows a company to reach millions of people and is one of the best methods of advertising out there right now. Leading up to this point, however, it has expanded exponentially. Before, it was considered to be very advanced for a company to advertise their product or service on the world wide web. Later, online banking came around, and people no longer had to leave the comfort of their homes to physically locate and walk or drive to a bank. They could pay their bills online, schedule bills to be paid at automatic intervals, such as once every month, or even view their savings and checking accounts at the same time!


Cell phones took things a step further. Initially, they helped people from businesses talk to one another on the go. If someone was lost and could not find the location of their conference in a foreign country, they could phone the person in charge, or a colleague, and quickly figure things out, rather than having to refer to a map. The smartphone was made popular by prominent business cell phone company BlackBerry, and later Apple jumped on the bandwagon. It allowed people to access the technologies of both the Internet and cell phone, allowing them to call and surf for latest news updates, all at the same time.


Business technology, originally starting from people trading a fur coat for a fried piece of lamb, has developed into an intricate system of international companies expanding and communicating with their customers and partners more efficiently. It will continue to grow, without a doubt, from these very humble beginnings, at an increasingly fast-paced rate.

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