Business: Key Drivers for Business Book Report

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137). Across the board, then, technological innovations will not only be a key driver of business in the coming decade, they will also facilitate the effects of the other key drivers of business discussed herein. For instance, the editors of World Economic Outlook (2002) point out that, "More trade integration is usually associated with more international financial integration, as they respond to many of the same technological and policy factors" (Trade and financial integration, p. 108). As the current fourth generation technologies are replaced by fifth and sixth generation technologies, these trends will likely become even more accelerated over the next 10 years. As Wiedmann and his associates point out, "Up-and-coming technologies like radio frequency identification and future trends like ubiquitous computing, ambient intelligence, and the connected (smart) home scenario have gained special attention in both research and business practice" (p. 137).

Conclusion

This paper provided a review of the relevant literature to support the thesis that liberalization of trade, financial deregulation, the formation of international trading blocs as well as further refinement of existing trading blocs and technological innovations will be some of the key business drivers during the next 10 years.

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The liberalization of trade and financial deregulation were shown to be fairly similar in effect but different in operation, with the former contributing to increased international commerce and the latter helping to make the capital available to support such increased levels of trade. The penultimate key business driver, the formation of international trading blocs and their continuing refinement, was shown to be a major driver by facilitating international trade through the reduction and elimination of trade tariffs and barriers. Finally, the research showed that technological innovations will likely play a key role in driving business across the board during the next 10 years as the march towards ubiquitous computing continues......

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