The topic should be in the area of Applications of IT in general and Essay

The topic should be in the area of Applications of IT in general and software in particular - Essay Example the customers and stakeholders are coming in close connection and linkage with each other and there is more room for getting in touch with one another, thus enhancing the chances of working in unison and earning multiple times over and over. However the drawbacks are also apparent in such an undertaking but from a global perspective these seem to take a back seat when there is a comparison of the benefits with the disadvantages, the former ruling roost over the latter in this case. For the understanding related with the discussion at hand, the focus will be on making a clear cut basis for the role of globalization in the finance industry and the manner in which IT has played a key role at speeding up things when it comes to working within the global domains. Globalization in the coming times will leave a lasting impression in the different spheres of life than is present at the moment. In an economic zone, globalization plays a significant role at increasing trade on an international front which as compared to the global economy, is much faster and ahead of its time. Furthermore, we can predict an increase in the flow of capital that has been coming from the global regimes which might include for the foreign direct investment as being one part of it. Then there are the agreements which are signed on a global scale that eventually lead to world bodies like the World Trade Organization (WTO) and others. Global financial systems also come to light as their developmental work gets thumbs up. International transactions speed up as the world bodies like WTO, WIPO, IMF and the like play their role in a more coherent and active manner. Economic practices like global sourcing or outsourcing as we know of it, off-shoring and others increase court esy the multinational concerns. (Berberoglu, 2005) Since this discussion is also on understanding what the future holds for the globalization regimes in terms of the Information Technology’s undertakings, there is a need to