Outsourcing Is An Alternative For Modern Economic Development

Outsourcing has become an alternative for many major companies as a way to not only manufacture products in other countries, but also employ and develop jobs in other countries in which reality should be available in the United States. Outsourcing as it may seem beneficial to the companies that employ it, actually harms the economy by decreasing the job market that is present in the United states. Offshore outsourcing has a strong potential to affect a variety of jobs ranging from low paid low and skill jobs to high paid and skill jobs. A princeton economist had predicted that about thirty to forty percent american jobs can be offshored in the next ten to twenty years (Institute, 2015). Specifically, informational technology jobs is field that has been targeted to be outsourced in the past, present, and future. A study from the Center for Urban Economic Development found that U.S. imports of business, professional and technical services increased their outsourcing by seventy seven pe rcent in the years of 1997 and 2002 (Offshoring vs Outsourcing, 2015). With the large number of jobs that could move offshore in the future, there is the potential for an increase in the number of jobs moving to other countries, specifically informational technology jobs. This in return would result in a negatively affecting United States jobs and its economy. A major risk outsourcing costs is the reduction of overall human capital levels in this country (NY Labor, 2010). This means the amountShow MoreRelatedKey Strategic Experience On The Completion Of The Board Meetings1482 Words   |  6 Pagesas it was progressively increasing due to the group’s accurate decision making to an successful  £5.22 of share price on the board meeting six. However By critically evaluating the board meeting three’s decisions WRSX able to consider the other alternative strategic actions that could have been made due to inconsiderate group decision that was made which resulted the share price to drop by  £0.11 from board meeting two. Also the report will have a discussion on the theoretical frameworks that was usesRead MoreAdam Smith and Globalization: China’s Economic Evolution Essay975 Words   |  4 Pagesbelieve if Smith were alive today, he would be repulsed by our modern day international business strategies. The general consen sus among dissenters of globalization is the misguided belief that capitalism at any level is missing the moral sentiment espoused by Smith’s philosophical viewpoints. Even though Adam Smith would acknowledge that some Chinese citizens are casualties of globalization, he would conclude the economic development of China’s poverty stricken society unequivocally raised theirRead MoreHuman Resource Is the Most Important Asset of an Organization1414 Words   |  6 Pageshow companies strategize and the way economies shift. Increasingly, developed countries are moving away from past economic structures such as manufacturing, into a knowledge-based system that encapsulates modern day advances in technology and science (Aubert, 2004). The 21st Century Business Environment Without a doubt, the Internet has been a main driver in structuring the modern day economy. Advances in Internet technology has contributed to important functional changes affecting companies acrossRead MoreUrban India vs. Rural India1322 Words   |  6 PagesGlobalization has had an astonishing impact on the modern world. It has allowed nations to connect with other nations through mediums such as the internet, fax machines, music and television. Globalization has also encouraged companies to take advantage of the knowledge and talents of people all over the world. Outsourcing has created thousands of job opportunities for developing nations. The flow of income into developing countries has allowed people to increase their standard of living (FriedmanRead MoreThe Poverty Of Capitalism, And Food Production1090 Words   |  5 Pages Part 1: Hilary’s book, ‘The Poverty of Capitalism,’ questions capitalism in modern day societies and focuses on the three economic sectors of extraction, garments, and food production. The accumulation of capital has led to the impoverishment of millions of people around the world and corporations have even gained enough power to outmaneuver states (ie Vattenfall sues Germany). Capitalism is about ambition, and the wheels of production need to keep turning to keep pace with the demandRead MoreOutsourcing: An Analysis2429 Words   |  10 PagesOutsourcing: An analysis The economic world as we know it is always changing. We live in a volatile time economically, and the need to survive these tough times is restructuring the way the world does business. Rather than keeping up more traditional models of business, globalization is impacting the way nations and corporations connect and compete with one another. Today, most companies use outsourcing as a primary strategy to help ease the load of the stress of day to day operations. Yet, at theRead MoreSharp Corporation - Beyond Japan: Case Study Essay1930 Words   |  8 Pagesplaced sensitive, high-value-added operations such as research, development, and component manufacturing near its headquarters in Japan. Faced with threats such as intense industry competition, currency risks, very high transportation and utility costs, and extremely high infrastructure costs and high corporate tax rates, Sharp Corporation needs resources in the forms of new methods, technology, and approaches to doing business in the modern world. It is recommended that the company remodels their operatingRead MoreHrm in 21st Century (Theories Practices)3480 Words   |  14 Pagesthis chapter the following definitions elements will be discussed, described illustrated that took place during the 19th, 20st and 21th centuries. HRM in 19th 20th Century Modern concept of human resources Though human resources have been part of business and organizations since the first days of agriculture, the modern concept of human resources began in reaction to the efficiency focus in the early 1900s One serious flaw of 20th century management is the definition of performance. HRM on 21stRead MoreUnder Armour (Case 26)1065 Words   |  5 Pagesmen, women and children of all shapes, sizes and walks of life. Economics The sports apparel industry has grown exponentially in the past few years mainly due to heavy marketing and advertising, technological advancements and a vast catalog of new items in new product categories. The ever-prolific sporting world has seen consist Political/Legal Large companies in this industry must stay up to date with the most modern clothing line and accessories in order to be competitive. With new productsRead MoreEssay on Multinationalism and Globalization in Britain1133 Words   |  5 Pagesinfluence over each other, in a process described as multinationalism. In order to consider multinationalism, we must first seek to understand its prerequisite in globalisation. It is generally regarded as having initially been an economic phenomenon, brought about by both an increase in world trade and an accentuated recognition of the necessity of international co-operation in the wake of World War One. Its earliest effects may perhaps be demonstrated by the foundation