What are the effects of the information revolution in today’s global market?
Research Question
Academic Insights
The information revolution has significantly transformed the global market by lowering transaction costs, enhancing business communication, and fostering the development of new business models and digital platforms.
Key Insights
- Lowering Transaction Costs:
- Information technology has fundamentally changed the landscape of the global financial marketplace by lowering transaction costs, thus leveling the playing field for investors and issuers .
- Enhanced Business Communication:
- The explosion of technology and globalization has led to a paradigm shift in business communication, requiring new methods and content to achieve relevant effects .
- Development of New Business Models:
- Digital transformation has led to the creation of new business models, particularly the platform economy, which integrates various industries and players to achieve common goals .
- Digital Platforms and Competitive Advantages:
- The development of global digital platforms has introduced new systems of competitive advantages, modifying global value chains and requiring innovative business models .
Conclusion
The information revolution has reshaped the global market by reducing transaction costs, enhancing business communication, and fostering the development of innovative business models and digital platforms, which collectively contribute to increased market efficiency and competitiveness.
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