In the service sectors, the cost saving from offshoring enables companies to create new service lines, many of which had been deferred for want of investment. New services increase customer satisfaction and become new revenue streams, as well as growth paths for companies. The geographic nature of offshoring brings its own advantages. It helps the company expand its reach, thereby helping the company grow. This growth mitigates any negative effects of offshoring.
2. Made customer orders quicker and with fewer errors 3. Arranged for more products to be shipped which lead to lower rates and better service 4. Bought technology that reduced cost and improved order fulfillment to customers There are major external forces have changed the competitive market in the last five to seven years: 1. Globalization is most prevalent factor in the changing business world.
Trending now is outsourcing, this allows companies to focus more on important daily functions of their own business. A major component in the payroll service industry is expanding technology; this will reduce the need for face-to-face contact with clients. Being one of the greater expenses in the industry it will lower costs for the payroll service companies. In this industry they are many competitors offering a variety of services and a major key to success for these companies is a user friendly web interface. For payroll services the major expenses include providing one-on-one contact with clients and training them to be able to use the software.
Uncertainties, globalization, rapid pace of technological improvement, innovation, diversity, complexity and information overload are common problems faced by organizations (Maak and Pless, 2006). Ethical behaviour in Business is another point of contention where problems arise and organizations need to rise to this challenge and which they cannot afford to ignore (Thomas et al., 2004). These circumstances create a need for strategic leadership. This essay by means of a literature review tries to explore the necessity of
TNCs, firms that are able to coordinate and control processes and transactions within production networks, serve as the main driving force behind economic globalization we witness today. While the direction of economic globalization today seems to reflect the ideal - continuing expansion and mutual integration of market frontiers, the capitalistic and profit driven nature of TNCs have brought along its own share of problems. The costs of globalization are magnified in LDCs but the benefits brought along has helpe Economic globalization today is often synonymous with the creation of a greater primary industry in LDCs. TNCs tend to outsource labor-intensive jobs such as manufacturing and assembly to LDCs to reduce labor costs and maximize profits, tapping on comparative advantage at the same time. While the creation of jobs would greatly ease the unemployment problem and combat poverty effectively, the issue on exploitation of the workforce, particularly women should be considered.
Organizations tart becoming more effective and can respond more quickly to customer needs and start eliminating some activities enabling them to focus. Organizations start to tap into the skills and knowledge of the extended business network. The final
Supply side policies are important for determining long run growth in productivity. These will be further discussed in this essay. Demand side policies aim to deal with just the demand and therefore change (increase) the aggregate demand in the economy. This needs to be done during recession period most of the time. If there is spare capacity (negative output gap), then demand side policies can play a role in increasing economic growth.
Outline the features of globalization and analyse the impact of globalization on the standard of living in the global economy. Globalization, is an important characteristic within the contemporary economic environment, and has undoubtly provided a significant stimulus to economic growth for participating economies. The term globalization refers to the process of increased integration between different countries and economies and the increased impact of international influences on all aspects of life and economic activity. The drive for globalization has resulted in greater economic growth globally, through the opening up of barriers to international trade, yet this increase in world output is often associated with detrimental effects in relation to the stability of a national economy, being susceptible to the ups and downs of the international business cycle and also both positive and negative effects on the standards of living or quality of life with in a nation. There are many dimensions to globalization, and it is often difficult to categories an economy as being globalized, yet there are several key indicators of integration between economies; these include: • International trade flows • International financial flows • Growth of investment flows b/w countries and the transfer of technology • The movement of workers b/w countries Whilst economic growth is one of the most obvious features of globalization, the driving force for world economic growth and economic growth within individual economies, is the growth in international trade flows.
Persuasive Paper Part 1: A Problem Exist Linda Aponte Strayer University Introduction Outsourcing is one of the most popular trends in present times as outsourcing helps companies to achieve higher levels of cost efficiency. A company that engages in any off shoring/outsourcing activities; - these activities may include production and information processing. Outsourcing helps a firm give out some portion of its work and ensure that it carries out only the main aspects of business thus focusing on the major aspects of work and value addition activities. Since there are foreign nations involved in case of outsourcing, the rules and regulations as well as the laws and legislations of each of the nations are severely different. Thesis Statement In case of companies outsourcing to nations without labor laws and union laws, it is quite possible that there is exploitation of workers and practices like child labor prevail.
This worked well enough in a slower time when supply chains were less complex and when products themselves were less complex. Those were times we now refer to as the "good old days." Increasing competition and demands from customers to deliver products faster and cheaper shapes the world we live in today. At the same time, the array and complexity of products in our economy has increased dramatically and that trend will clearly continue and even accelerate. In order to be competitive and also profitable, companies need to find ways to reduce or eliminate costs associated with routine and repetitive business transactions.