Describe the tradeoffs of business in a borderless world Assignment

Describe the tradeoffs of business in a borderless world - Assignment Example e need of social interaction, giving low consideration to the slow rate of revenue generation plus the fact that competition is getting far more serious. This situation is what we may call as an unsatisfactory compromise, a business tradeoff, as we may commonly call it. Cambridge International Dictionary of English explains â€Å"trade-off† as â€Å"a balancing of two opposing situations or qualities, both of which are desired. There is a trade-off between doing the job accurately and doing it quickly†¦A trade-off is also something that you do not really want but you accept, in order to have something else that you do want.† (Cambridge International Dictionary of English) In the world of business decision-making, tradeoffs are essential and vital. Applying the same to social networking sites, such as Twitter, tradeoffs play an important role in major business decisions wherein it calls for the need of monetizing its business and generative revenues without sacrific ing the infectious attraction and ease of its features of microblogging. A borderless world signifies a global integration of world economies. A network of partnerships, collaborative joint ventures, business relationships and alliances are formed giving rise to diffusion of new technology and a more open world economy. In a speech given by Everett M. Ehrlich, he envisioned a global marketplace – a borderless economy – wherein epochal information technologies have disintegrated our firms and led to a restructuring of the economic market. (Ehrlich, 2007) What once was an economic setup once barred with walls preventing the sharing of information and strategic solutions is now a solely integrated and symbiotic venture where an exchange of fast and accessible information through various open networks facilitate distribution and action leading to wise business decision-making. In other words, modern companies now demand the highest level of competitiveness in every activity, rather than introducing new