Outsourcing and Globalization - 2072 Words

| Globalization and its Impacts | A Brief Look at Effects and Ramifications | | | 5/11/2010 | | I challenge you, the reader of this paper, to attend a party, church or school event, or any gathering of adults, and not hear about someone’s job being outsourced. I also dare the reader to remember a time when there was not an abundance of affordable products in the marketplace and wax romantic over spending over a thousand dollars for a cell phone in the age of buy-one-get-one free. Well, this paper is all about that. I am going to skim the surface of the global economy and its impact on American industry and workers. Such a meaty topic cannot be covered in so short a forum, so my intent is to provide a high level†¦show more content†¦Looking at the GDP chart in the previous section, and you see the economies of Japan and China have become world powerhouses. This growth has produced wealth and development in these countries. Images of Chinese streets filled with bicycles and pedestrians have been replaced with those of bustling, building and growing cities. Because there is so much manufacturing going on in these countries, the cash flow has started to reach the smaller cities and towns. Among the improvements to these once isolated farm villages are electricity is being brought in, water supplies and schools are being built. More and more Chinese and Indian nationalists are purchasing automobiles further expanding their connectivity to each other, thus increasing the demand for more production. Developed nations that can follow trends and adapt to the changing economy are benefitting as well. The medical and pharmaceutical industries have grown significantly with the expansion of workers internationally. According to Medical Marketing and Media, an industry trade journal and website, Pfizer has relied in international sales to buoy slumping domestic sales at the onset of the American recession in 2008. â€Å"Lipitor revenues were down 1% to $3.1 billion for the quarter as a 16% increase in international sales compensated for a 13% drop in US sales. Lyrica revenues shot up 45% to $675 million, withShow MoreRelatedGlobalization and Outsourcing6341 Words   |  26 PagesIntroduction Its been said that arguing against globalization (and many of the issues related to globalization) is like arguing against the laws of gravity. This statement comes from Kofi Annan, who won the Nobel Peace Prize in 2001 and also became the seventh secretary general of the United States (The Nobel Foundation, 2001). The quote introduces, in its broadest sense, the issue discussed in this paper. While the general idea of globalization is not our primary focus in this report, one ofRead MoreGlobalization and Outsourcing Can be Beneficial Essay1167 Words   |  5 Pages For decades, American citizens have been complaining about how outsourcing has ruined their lives and that it is only going to harm America and its economy. Unfortunately, jobs are going to be lost and the unemployment rate may rise due to globalization. However, the benefits of globalization are infinite. People in other parts of the world will achieve a greater life than they ever thought possible due to the facto ries built in their countries. Due to the poverty in third world countries, theseRead MoreOutsourcing Of Aviation Maintenance Practices And The Effects Of Globalization1352 Words   |  6 Pages Outsourcing of Aviation Maintenance Practices and the Effects of Globalization Matthew Wilkerson Embry-Riddle Aeronautical University Worldwide May 16, 2016 â€Æ' Abstract Within the aviation industry outsourced maintenance practices have become increasingly more prevalent to maintain current assets. There is generally three processes currently being utilized by the airline industry: outsourcing specific maintenance needs, in-house operations, and lastly, a hybrid approach, which entails a combinationRead MoreGlobalization: Outsourcing and Offshoring Software Creation Essay1208 Words   |  5 Pagesemployment, income distribution and economic growth? Is the outsourcing of services a different phenomenon than simply importing steel? Economic theory and past history point to the fact the trade provides net economic gains but if it also redistributes wealth, affects worker employment the short run and wages in the long run. It is easy to find literature that tells of the growth of the American economy with the increased use of outsourcing. It is however a different story when one asks the questionRead MoreOutsourcing, The Key to Globalization Essay examples995 Words   |  4 PagesThe concept of outsourcing in the Unied States goes back to 80s. But it was in the 90s that really companies began to use it more and more and they found out that this is something that really works for them. Outsourcing is defined as the practice of subcontracting manufacturing work to outside and especially foreign or nonunion companies. This concept became very widely used in practice today in the United States. Firms such as IBM, Sprint, ATT, Dell Hewlett Packard, and Novell are someRead MoreGlobalization : A Benefit For Americ a1343 Words   |  6 PagesGlobalization: A Benefit to America Globalization. What is it exactly? And why is there so much debate and controversy surrounding it? This topic has sparked protests all over the world. Like with many other topics, some support globalization and what it has accomplished. Others have hatred and believe it should not exist. Why do some people believe that globalization is an essential process and helps the economy immensely, while others see it as the root of pure evil and destruction? The answerRead MoreThomas Friedm The World Is Flat1021 Words   |  5 PagesFlat† by Thomas Friedman. The video starts with Thomas Friedman, a veteran award winning American journalist, speaking of his visit to Bangalore in India to work on a documentary based on outsourcing, and how his meeting with the then CEO of Infosys influenced him in writing his book where he analyzes globalization and lists out the various factors that led to a â€Å"flat† world. Mr. Friedman then continues and briefly summarizes the first three chapters of his book and how he derived them. The World isRead MoreThe Main Goals Of Free Trade Agreements1186 Words   |  5 Pages One of the main goals of free trade agreements is globalization. Globalization, or global free trade, is the creation of trading connections between countries throughout the world (Globalization). Globalization stresses free trade. Free trade is when tariffs are reduced or eliminated on exports or imports. Tariff tax percentages added to US imported goods have dropped dramatically from about 60% in the 1930s, to lower than 10% in 2005 (International). With less money taxed on products, corporationsRead MoreOther Side of Outsourcing  by: Thomas Friedman738 Words   |  3 PagesASSIGNMENT 2 â€Å"Other side of outsourcing† by: Thomas Friedman The impact outsourcing had to United States was for some Americans bad. They claim the jobs they loose and the disadvantages that Americans were facing due to this radical change. While in the United States some people were disgusted, in the other side of the world, the young people were very thankful. This change made a revolution on their culture; the new Indian generations were entering to a whole new world, making a big change betweenRead MoreThomas Friedman’s The World is Flat Essay1031 Words   |  5 PagesWorld History In Thomas Friedman’s The World Is Flat he presents his idea of the globalization of the world in all areas; from economic to communication with other countries. Friedman is a journalist from the New York Times and most of his work focuses on economic and technological innovations and advancements, and furthermore how they are associated to history. The ideas he presents in this book are both plausible and convincing. The main focus is whether the world is â€Å"flatâ€Å". The answer to