| Almost every aspect of the economy is impacted by | | | | more money, the increase in oil and gas prices also |
| globalization. Many people don't realize how much of | | | | has an unseen effect on all businesses. The increase |
| an affect globalization has because they ignore the | | | | in oil and gas prices is something that affects us all. |
| big picture. Globalization is thought of as outsourcing | | | | As much as we all complain about the increase in |
| and has many different functions, such as | | | | these prices, it is something that we cannot solve |
| communication between countries, news, cheaper | | | | and for which we will continue to pay higher prices. I |
| labor and free trade. Globalization has an effect on | | | | would consider gas and oil a necessity for all, not only |
| every economy, ultimately changes world views, and | | | | for one's own personal use, but everything used and |
| heavily influences what we do. A large aspect and | | | | needed in our economy is brought to us with the |
| concern of every economy is the many global | | | | need of oil and gas. This ultimately increases our |
| influences that affect business. There is a growing | | | | costs, as well because we now need to pay more |
| belief that outsourcing will aid our economy while | | | | for the transportation costs of receiving the goods |
| enduring many global speed bumps. Some global | | | | and services needed to run business. Customers are |
| changes that affect business are the price of | | | | also disturbed by this global issue because they could |
| imports, exchange rates, increase in oil and gas | | | | possibly no longer have the means required to pay |
| prices, and recession. Is outsourcing a way of solving | | | | for some businesses. In return these customers will |
| cost issues? | | | | choose cheaper alternatives. This specific global trend |
| To begin, a substantial global trend relates to | | | | has nothing to do with the U.S. because we do not |
| commodity fluctuation. As the price of imports rise, | | | | produce the oil or gas, but as citizens in this |
| we are able to buy fewer goods. This affects | | | | economy, we are very much affected. |
| countless businesses throughout our economy | | | | Similar to the effect that the extra costs incurred, |
| because they may then have to take on other | | | | the recession alters every business in the economy. |
| measures to obtain necessities needed to run a | | | | This slow down of economic activity is taking a |
| business. Accommodation, due to the lack of | | | | major impact on every household, business and |
| availability, generally leads to increased cost and alters | | | | economy. With the recession, big changes need to |
| the way of business. Paying more for any products | | | | be made in order to be secure in these down |
| or services needed to run a business will lead to an | | | | economic times. This issue fundamentally affects |
| unfavorable issue of increasing prices; therefore | | | | every business in the economy as a whole; as |
| ultimately driving away some of the usual clientele. | | | | commerce decreases due to changes needed in this |
| The increasing troubles and costs of confined sources | | | | fluctuating economy. Due to all the foreseen extra |
| negatively affect businesses daily operations. As | | | | costs, many businesses may have to begin |
| businesses are losing funds in some areas, | | | | outsourcing to keep the company functioning in this |
| outsourcing can make up for incremental loses. | | | | difficult economy. As outsourcing is becoming a rising |
| Outsourcing is commonly known as sending work to | | | | issue, there are many benefits and misfortunes |
| an outside provider in order to cut costs. | | | | related to the act. Outsourcing is looked upon as a |
| Another global trend that has similar effects as the | | | | way to save money, mainly due to lower labor costs. |
| price of imports is the issue of exchange rates. If the | | | | It is also viewed as a way of expanding recognition |
| value of the U.S. dollar drops it would lead to | | | | and competitiveness, but many believe that |
| negative circumstances; as we would then pay more | | | | outsourcing is negative because it takes away from |
| for the goods needed. Once again, paying more for | | | | the American economy. |
| the goods needed would affect both business | | | | In conclusion, the continuous global trends are |
| owners and customers. Not only would we have to | | | | unseeingly affecting all businesses throughout this |
| pay more for the goods needed, but we may have | | | | economy. These global trends cause a constant need |
| to take other measures like eliminating or changing a | | | | to accommodate, which is applying more costs and |
| business's products and services. This elimination or | | | | frustration to all businesses. The global affects that |
| change could either benefit or hurt overall business. A | | | | people are unaware of are what is slowly bringing |
| business could rid the hassle and extra costs of | | | | down businesses in this economy. Along with tending |
| importing goods from other countries, but this | | | | to the extra costs incurred from globalization, |
| change may lead to unsatisfied customers which | | | | businesses still have to focus on fulfilling customers |
| would subsequently hurt business. This change may | | | | expectations in order to improve satisfaction and |
| lead to poor company reputation, while outsourcing | | | | increase future business. Outsourcing opens doors for |
| may not be the best resolution. Outsourcing doesn't | | | | many businesses to gain access in a foreign market, |
| always improve a company's reputation and can | | | | but not all businesses can handle and maintain activity |
| weaken a business's initial ability. | | | | in these roughing economies. |
| In addition to the global trends that cost the business | | | | |