Technology has long been known to enable globalization in ways previously not thought possible, with instantaneous communication allowing members of organizations all across the globe to communicate and share information with little to no delay.

Example of Globalization:

• Cultural Globalization
• Diplomatic Globalization
• Economic Globalization
• Automotive Industry Globalization
• Technological Globalization
• Banking Industry Globalization

Did it change our lives?

Technology has changed how we entertain ourselves, meet each other, and consume all types of media. It's made fun advancements, but it's also made important advancements in safety when it comes to home security and medical devices. ... It opens up new opportunities by helping with safety, mobility, and connectivity.

Does it relate to us?

Technology is the application of that scientific knowledge to create devices that solve problems and carry out tasks.

Answer:

Technological advancements reduce costs of transportation and communication across nations and thereby facilitate global sourcing of raw materials and other inputs. Patented technology encourages globalization as the firm owning the patent can exploit foreign markets without much competition.

Examles:

1. Growth of Multinational Technology Corporations

Liberalization of trade and economic globalization have facilitated the growth of multinational corporations like Microsoft, Apple and Sony. Traveling around the world, chances are the televisions in all the airports are from one of the four or five major television brands. Anywhere in the world, chances are the phones will be made by Samsung, Apple, or another of the major multinational mobile phone corporations.

2. Mobile Banking

Mobile banking has allowed people to access money both at home and around the world at a faster pace than ever. In particular, smartphone stock trading apps allow for the ownership of capital to be shuffled around the world faster than ever, helping to speed up globalization and lower the cost of start-up capital to facilitate new business development.

3. Mechanization of Manufacturing

While not the first thing we think about when considering examples of technical globalization, this is one factor that has an enormous impact on our lives. Using machines for manufacturing lowers labor costs which has two competing effects: downward pressure on labor costs (leading to cheaper goods) and loss of traditional manufacturing jobs.