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Essay from the year 2003 in the subject Business economics - Miscellaneous, University of Phoenix, language: English, abstract: Today's business world is driven by technology. This technology has not only helped organizations become more efficient and effective, but it has also added two new challenges to the business arena. The first is the rapid speed in which industries change, thanks to technology. The second is the introduction of a truly global economy. This paper covers how these factors affect the four functions of management for IBM Corporation.