ABSTRACT
THE DYNAMIC BUSINESS STRATEGIES and operations of many companies have become highly influenced in recent years by the forces of globalization and advances in information and communication technologies. It is apparent that firms will have difficulty in operating effectively and creating value for their owners and stakeholders unless they embrace both of these forces to their advantage. Both internationalization of business activities and IT offer opportunities and threats to companies. Opportunities involve market expansion, cost reduction, risk diversification, and potential increases in productive efficiencies and market expansion. Failure to understand and to come to grips with them may well result in a competitive disadvantage compared to those firms which have effectively integrated the new forces of technology and globalization into their business strategies.
