The Impact Of Globalization On American Business

It has become increasing undeniable that the process of globalization is present, and a strong force in the international market. “Globalization”, according to the Merriam-Webster dictionary, is defined as, “ the development of an increasingly global economy especially by free trade, free flow of capital, and the tapping of cheaper foreign labor markets”. Before the start of the 1990’s, the United States had little competition in the international marketplace, and was as strong as ever. Globalization has opened the international market to cheap land and labor outside the United States. Corporations and businesses have outsourced many jobs from the United States labor markets, at the expense of United States labor. One of the biggest questions facing America today is if it is ready for Globalization. I believe that we are not ready for a variety of reasons, but there are a few that stand out in my mind. The top factors concerning the U.S. are ineffective nature of Congress, U.S. national debt, and overseas outsourcing.

US globalization changed not only the United States, but the world, since anybody can sell to anyone, anywhere in the world. It has opened opportunity to many people across the globe that would have never been able to have a successful business without it. Another way it has changed is in the way people communicate with each other. People can immediately talk to somebody in another country, or post to a social website, reaching many people at once and instantaneously, globalization has definitely made the world a lot smaller.

During the 1450’s to the 1700s, trade, imperial expansion, and exploration changed the way people all over the world lived. Globalization is when different societies adopt one way of life or syle. In 1492 when Christopher Columbus discovered America, a biological exchanged called the “Columbian exchange” started; which caused the Americas to be finally connected to the old world. From China to Western Europe to Latin America, globalization caused change all over the world. Globalization has changed China in many ways.

Globalization, defined as “a process that aims to expand business operations on a worldwide level, and was precipitated by the facilitation of global communications due to technological advancements, and socioeconomic, political and environmental developments” has been around for ages. However, it is a force that is becoming increasing more relevant in today’s world. In layman’s terms, globalism is the merging or “melting” of individual perspectives and markets into a more global market. As of recently, society has been obsessed with studying globalization. However, the conversation is rarely economical. Globalization is typically looked at as a social or cultural force that is shaping and connecting the world. This is scene in clothing styles, human travel, and popular culture that has become increasingly similar across nations. That sentiment isn’t wrong-globalization does have a cultural side, but many people are missing the economic impacts that this new world is facing. In fact, the economic implications of globalization and how governments legislate to control them leads to significant opportunity, but also huge threat globally.

Globalization has changed the way companies handle business and the jobs individuals can obtain. Companies have moved their labor overseas due to cheaper labor and production costs. According to Tarique, one of the nine drivers of international of business is the search for new markets and reduced costs. This means that companies are looking for new markets and lower-cost operations. These are found in other countries (15). Offshoring would be an example of this driver. Companies in the United States are moving their operations overseas to countries like China because labor costs are cheaper and products are cheaper to obtain and produce.

The US economy is still the largest and the most important in the world which represent about 20% of the total global output and is ranked as 6th highest per capita GDP. The US economy features a highly-developed and technologically-advanced services sector, which accounts for about 80% of its outputs. Large American Corporations also play a role on the global stage with a huge amount of their companies are located all around the world. The US is also the 2nd largest manufacturing in the world and also has an important manufacturing base and is the main hub in producing high-value products. They have access to almost any natural resource and is the world’s largest agricultural exporting country with sophisticated

Globalization in the U.S. Globalization is a process of integration on an international scale. This process starts with the mingling of different opinions from around the world that become shared among different geographic locations and different groups of people. When this process takes place, other cultural aspects are shared such as products, technology and even policies. Globalization has been responsible for the many technological advances in countries around the world. Over the course of history many developing countries became developed. Advances in medicine spread from one country to the next along with education. Laws became more focused on humility and fair justice. Technology has been made communication and travel more accessible

Competitiveness of a country is defined as the set of institutions, policies and factors that contribute to the level of productivity (World Economic Forum, 2015). Numerous empirical evidences show that productivity is the most fundamental element in explaining the level of prosperity of companies and Americans. So the United States is competitive to the extent that corporations operating in this country are able to achieve success in the global economy while supporting increasing wages and high living standards for the average citizen (HBS U.S Competitiveness Project, 2015). In short, competitiveness is a shared prosperity that firms win and citizens thrive.

The Tempest, when Plath was only twelve. Plath herself relates this influence on her work The Colossus, and she says that The Colossus is influenced by The Tempest as

An ethical dilemma happens in the workplace more often then we expect. World Class Bull, written by John Humphreys, Zafar U. Ahmed and Mildred Pryor, is a prime example of how sales personnel can manipulate a potential client into a contract. Christopher Knox, a stellar sales employee at Specialty Fleet Services (SFS), just landed the Armadillo Gas & Power account. Samantha Williams, Human Resources Vice President of SFS, was now filing a breach of the company code of ethics against Christopher and the Vice President of Sales, Jeremy Silva for “deceptive business practices” used to make the sale (Humphreys, Ahmed & Pryor, 2009). Disrupting personal space of the client, starting a dishonorable relationship, and

In today’s world, with a few notable exceptions, nearly everyone in every region of the world has access to the same products, information and services. A long-distance relationship is no longer so distant, since each party involved in the relationship can communicate through Skype, Facebook or through any of the vast amount of social media available. A person in Easter Island, one of the most remote inhabited islands in the world, can go to the other side of the world and travel to Canada. An economic crisis in Argentina could affect the economic landscape in Brazil. A person in Chile or Peru can buy an Abercrombie and Fitch t-shirt because this transnational corporation decided to expand its market to developing countries, or as you might prefer, to emerging economies in South America. Although many of these examples might be trivial, these are the consequences of globalization.

Britain’s vote to exit the European Union, Opposition by the U.S. to the Trans-Pacific Partnership (TPP), and the undergoing renegotiations of the North-American Free Trade Agreement (NAFTA) are just a few examples of the increase in anti-trade sentiments in recent years. Protectionist sentiments undermine the broader economic benefits of international trade and create uncertainty among trading partners. Trade liberalization is a key component of the world economic agenda required for sustained reduction of global food insecurity, poverty, and inequality. Trade boosts productivity, spurs innovation, lowers prices, and increases access to imports. For example, Canada’s productivity is estimated to have risen by 13.6% as a result of free

All companies doing business domestically or internationally are affected by political issues and risks- the likelihood that a society will undergo political changes that negatively affect local activity. In many different ways, politics are a huge factor for the willing of two sides to cooperate and trust one another. (International business book)

Capital punishment also known as the death penalty is a government sanctioned practice whereby a person is put to death by the state as a punishment for a crime. In 2004 four (China, Iran, Vietnam and the US) accounted for 97 percent of all global executions. On average, every 9-10 days a government in the United States executes a prisoner.(kathy Gill 2017) There are a lot of different kinds of capital punishment. Capital punishment was the use of long time ago, in this time a lot of country cancel Capital Punishment. In this time for Capital Punishment is used Lethal Injection.In America there 33 states have Capital Punishment, and another 17 states cancel the Capital Punishment. As of April 1, 2008, the Death Penalty was authorized by 37 states, the Federal Government, and the U.S. Military. Those jurisdictions without the Death Penalty include 13 states and the District of Columbia. (Alaska, Hawaii, Iowa, Maine, Massachusetts, Michigan, Minnesota, New Jersey, North Dakota, Rhode Island, Vermont, West Virginia, and Wisconsin).(D P) Capital Punishment should be legal and use in our country because it can help to deter against crimes, save money for the government and help us to treat everyone fair. In our country capital punishment need to be used every State.

Globalization encompasses new challenges to the business industry. Nowadays an organization may face changes and must adapt strategically in order to stay on top of its competitors (Nielsen & Montemari, 2012).