MANAGEMENT STRATEGIES AND ECONOMIC IMPACTS OF GLOBALIZATION ENABLED BY IOT, DIGITAL TRANSFORMATION AND ADVANCED DATA ANALYTICS

Abstract

This article explores how the Internet of Things (IoT), digital technologies, and advanced data analytics work together to create a new wave of globalization and what kind of management practices businesses and policymakers should consider taking to respond. The analysis connects technology capabilities (e.g., real-time sensing, edge/cloud computing, machine learning) with managerial practice (e.g., operations, supply chain, workforce, governance) and with economic outcomes (e.g., productivity, trade patterns, employment composition, inequality). The article introduces a conceptual framework that connects three themes enabled by technology: transparency, modularization, and automation, to the reconfiguration of global value chains. It builds the case for likely macro and micro economic impacts, suggests possible management practices to seize the benefits and manage the risks to capture the benefits of this new paradigm and suggest policy implications to ensure that disadvantage groups will equally benefit or diminishes the risk of widening inequality. The article ends with research recommendations and an operational checklist for managers and policymakers.