How does technology influence international business?

Technology significantly influences international business by enhancing productivity and enabling global transactions. Innovations in communication, information technology, and logistics have transformed the way businesses operate across borders. For instance, the internet allows for instantaneous communication and collaboration among teams in different countries, which helps in streamlining processes, reducing operational delays, and increasing overall efficiency.

Additionally, advancements in technology facilitate global transactions by providing platforms for e-commerce, digital payments, and supply chain management. This technology enables businesses to reach international markets more easily, reducing the costs and complexities that traditionally accompany cross-border trade. As a result, companies can expand their customer base, optimize their operations, and innovate their products or services, leading to increased competitiveness in the global marketplace.

Other answer choices do not align with the positive roles technology plays. Limiting communication across borders contradicts the essence of modern technology. Making international laws more stringent does not necessarily correlate with technological advancements and often reflects geopolitical considerations rather than technological impacts. Lastly, while technology may lead to some changes in market competition dynamics, it typically enhances competition by allowing more players to enter the market rather than reducing it.