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Change is always happening but is it good for business? (1, premises) In the business world, why do they want to make globalization successful and the best answer I can figure is that for the business or company, the outsourcing of having cheaper production costs and that will allow for the opportunity to have more customers to sell to. Most outsourcing is overseas in countries like Mexico and India. It all comes down to competition between businesses. Untapped markets, different services, investment opportunities are all competitive advantages.
As soon as the first company went global, everyone else had to follow suit to keep up. (1, conclusion) Globalization is about growth, but it is also about establishing the ultimate competitive position and having diverse resources, diverse interests, diverse markets, and diverse acquisitions. (2, premises) Why globalization is bad for business and the reason would be the fact that outsourcing is taking jobs away from the American people and that makes an impact on our economy. Big name companies do have benefits, and the answer would be yes.
They bring in foreign currency, employment opportunities, and give funding to the governments in the countries they have bases in. However, their drawbacks outweigh their benefits. These companies can exploit the local workforce. Some examples would be that countries have less intense labor and health and safety rules and multinationals use that to their advantage. They might use cheap labor and give unfair hours. Issues of child labor have stemmed from this. The separation of these far-away factories means they do not have the investigative eye of the western media to watch them. 2, conclusion) The best solution can think of would be to keep the American worker employed to keep the money here in our economy to keep the money flowing in our own country. We need to support our own before other countries and their business ways. One example of inductive reasoning would be that we may be able to foresee more companies and businesses using outsourcing, to enable them to make the cutback needed to make the company more profitable. It is a trend we have seem quite commonly for the past few cascades and will most likely see more of it in the future.
It is hard to say how much, but I can only assume you might see a greater rise in this trend in the coming years. Before you know it, all companies will have production overseas. One example of deductive reasoning would be that free trade and globalization often get a bad mouthed because there is a belief that they allow huge multinational corporations to act without concern for human rights or democratic values. But the fact is that free trade helps small business far more than anyone else.