Final answer:
Technology is crucial to global organizations as it drives globalization, facilitates technological diffusion, and fosters economic development. While it has not yet achieved technological equality worldwide, advancements like the Internet and mobile banking are revolutionizing how global businesses operate and contribute to economic growth.
Step-by-step explanation:
Technology plays a pivotal role in global organizations by driving globalization and facilitating the spread of innovations across borders. This phenomenon known as technological diffusion has significantly bridged the gap between core and peripheral nations, albeit not creating complete technological equality.
The rapid improvement in technology has linked economic growth with technological progress and has been paramount in lifting many from absolute poverty. For instance, rural and low-tech markets benefit from innovations such as mobile banking, improving efficiency in financial transactions regardless of geographical location.
Moreover, Thomas Friedman's seminal work 'The World Is Flat' highlights how personal computing and high-speed Internet have 'flattened' the world, changing core economic principles and enabling businesses to operate on a global scale with greater ease.
Technology, particularly the Internet, has prompted shifts in the workforce and market dynamics, with implications for how nations prepare their workforces for the future. Technologies like the Internet, Global Positioning System (GPS), and Geographic Information Systems (GIS) are other examples of how new information technologies can impact global dynamics and decision-making.