How Has the World Changed in the Past 40 Years

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Management Practices and Policies How Has the World Changed In the Past 40 Years? When thinking about changes in the world for the past 40 years, globalization, technology, innovation, and economy come to mind. 40 years ago people could not imagine that the car they currently drive would operate on a fuel-efficient hybrid system engine or fully run on electric engines. Perhaps all of the activities people accomplish today in some way related to the recent changes in the world. For example, a usage of GPS for traveling purposes, a usage of money transferring system by aliens who currently work in the U.S. and send money to their families for living, a usage of online dating sources to find spouses, or usage of teleconferencing to cut down or minimize spending for business trips. Things like laptops, cell phones, flash drivers, and the Internet are the things that are necessary to have in order to be able to accomplish one’s job performance or school assignments. Moreover, the productivity of employee or student directly depends up on these technologies today. Additionally, utilization of the modern technology developments became pervasive for businesses in order to be able to sustain in current highly competitive landscape. Firstly, in the past 40 years the world’s two the most powerful countries, USA and Russia (USSR for that time) had to change their types of the economy. USA from manufacturing economy shifted to the service and internet-based economy (Ferrell, Hirt and L. Ferrell 17). However, at the time the U.S. had the manufacturing and marketing economy businesses already became orientated towards customer satisfaction. Meaning that, famous joke made by Henry Ford in the early 1900s, “you can have your Model T in any color you want as long as it is black” was no longer applicable for the manufacturing and marketing type of the economy (Boone and Kurtz

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