Information Technology
Pages: 1
Assignment 4.1: Dialogue 4 — Industry-Specific Use of Information Technology
Background
Information technology (IT) and the Internet have profoundly affected the way financial services are being provided. IT has enabled the creation of sophisticated financial tools and the global reach of most banks, empowering them to break the financial risk across industries and continents. Modern banks serve the function of powerful “risk intermediaries” or in other words “risk processing factories”. The financial institutions take the credit risk inherent in the businesses, break this risk down, process it using sophisticated financial technologies and then allocate this risk to a broad range of investors and countries.
The Manufacturing industry has not been able to reap full benefits of globalization. Different from financials, value in manufacturing factories is created by taking raw materials and constantly producing products which can be sold in high quantities or at high prices, with consistent quality, to generate stable return on investment. While traditional trade barriers for manufacturers decreased during the last decade, they did not disappear and sometimes re-appeared in other forms and formats.
Global access to raw finances and materials has also improved since the end of the Cold War, but this benefit has not steadied the increased pressure on research and development (R&D) and production technology, the broadened competition from low-cost regions, and the persistent protectionist measures taken by majority of national states.
The U.S. manufacturing base and its relative contribution to the national GDP has been slowly decreasing over the last few decades, representing some 14-16% of the current GDP. Comparable declines were seen in Western Europe. On the other hand, several large developing countries, notably China, are rapidly building up or enhancing their manufacturing basis, frequently utilizing positive trade balances to finance and support private businesses. The cost factors and macroeconomics have virtually forced a notable relocation of some American and Japanese manufacturers to China and South East Asia, as well as a comparable relocation of some Western European manufacturers to Eastern Europe.
Today, China, the “world manufacturer”, produces 50% of all cameras and 30% of air-conditioners placed on the world market. The Czech and Slovak Republics in Central Europe are the world largest automobile producers per capita.
Procedure
Access the HSBC Bank website, the self-denoted world’s local bank, as well as Ford Motor Company’s website.
Access the automotive B2B portal, Covisint, which is an independent e-business exchange, providing the automotive industry with collaborative product development and supply-chain tools. The portal was developed in 2000 by DaimlerChrysler, Ford, General Motors, Nissan, Renault, Commerce One and Oracle. It is a single automotive-parts exchange for the companies’ thousands of suppliers and dealers.
By the end of Wednesday, post to the Forum a substantive contribution in which you address the following:
How is the global presence of both HSBC and Ford Motor Co. reflected in the respective website, and what are the websites’ functional roles of (i.e., PR, marketing, service)?
Keeping in mind the module themes, what is the primary role of Covisint? How does it contribute to lowering the cost and sharing the risks among the car makers? Is this model applicable to other industries?
After posting your position, critically review at least two (2) positions of your fellow students. Additionally, you are encouraged to defend your position.
……………………Answer preview……………………….
Inventions of technology have significantly contributed to the growth and development of IT related organizations in nearly all states globally. Over the years, website has influenced a number of benefits for both customers and organizations. Website is substantial because it offers technical information technology services, enterprise applications, security, and data storage services…………………………………
APA
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