In-house production Article Example | Topics and Well Written Essays - 2000 words

In-house production - Article Example Globalization is both a cause and a result of the modern information revolution. It is driven by dramatic improvements in telecommunications, incredible increases in computing power, and the development of information networks, such as the Internet. These technologies are helping to overcome the barriers of physical distance. With what results' According to its proponents, globalization can be a whirlwind of trade and investment that builds economies and spurs development in even the world's poorest countries. For example, during the 1990's alone, foreign investors have poured one'trillion dollars into developing economies. This phenomenal increase in international investment has made the building of roads, airports, and factories possible in poorer nations. Globalization has indeed been a force that has raised living standards for some across the world. Peter Sutherland, chairman of the Overseas Development Council, says that "until recently, it took at least two generations for living standards to double, but in China, living standards now double every 10 years" (as quoted by Bendor-Samuel, 24). Globalization is perceived as bringing unprecedented opportunities to billions of people. The staggering expansion of world trade has induced a wave of productivity and efficiency and has created new'jobs. Its critics,Its critics, however, counter that globalization can also bring down economies overnight. A few clicks of a computer mouse can devalue a national currency very quickly, washing away the life savings of millions of breadwinners. Ominous words from the mouth of an influential Wall Street analyst can instantly cause a herd of panicked investors to sell their stocks in Asia, creating a huge capital vacuum that could eventually drive millions into poverty. A board of directors can decide to close a plant in Mexico and open up one in Thailand instead-creating jobs in Asia while condemning hundreds of families in Latin America to destitution. Certainly, as governments from different countries try to get into the bandwagon of globalization, outsourcing has been the main focus of many government officials when it comes to the shift of industrial culture that their own countries have to take. However, outsourcing has not been so much of an accepted agreement for everyone, especially for the local workers in the United States. What are the reasons behind this' What really is outsourcing and how does this economic strategy affect the whole working force of the business industries' The Truth behind Outsourcing Strategies Universally, globalization has placed great pressure on working people as governments force down wages and labor standards in an attempt to attract foreign investment with the promise of low costs. While some newly industrialized countries have profited from increased exports as a result of freer global trade, poorer nations have been largely excluded from the feast. Along with this, the economic enthusiasts saw the possibilities of using the low-cost options of taking the skills of other poorer countries in becoming a part of the work force of their growing economies. It all seemed so practical at first; however, some considerations placed some pressures on the matter. True, the skills of the third world communities are

International Tourism Development Essay Example | Topics and Well Written Essays - 1000 words

International Tourism Development - Essay Example Organizations like the WTO (World Tourism Organization) and WTTC (World Travel and Tourism Council) are aimed at regularizing and streamlining international tourism in all aspects. International tourism is revered as one of the fastest growing economic sector of the present day world, one of the largest export earners and a very crucial source of employment. In not only ushers in newer opportunities for the local people, but also generates substantial revenues. Recognizing these strengths of international tourism most of the organizations work towards bringing in coherence amongst various governments and local bodies and encourage them to play a more active role in promoting international tourism. In the business oriented world, tourism has almost become synonymous with trade. Whenever a tourism based activity is initiated, it generates trade in some form or the other. To further capitalize on this financial aspect of tourism, various strategies and policies are being adopted by various international organizations. In this regard the WTO releases annual reports on Tourism Market Trends reports which analyze global tourism results and their impact on a country's economy. Acute attention is given to various tourism products like special events, cruises, sports, ecotourism etc. to comprehensively analyze annual tourism trend of a particular country and its effect on the local as well as global trade. A special theory called PEST analysis is often implemented to assess a country's market potential. PEST analysis means adjudging a place on various aspects such as Political factors, Economical factors, Socio-cultural factors and Technological factors. Stability of the government or polity in a country, its economical status, its social and cultural setup and its technological background , all have a vital role to play in determining a country's tourism potential. As today's largest and fastest growing industry international tourism holds immense potential for unprecedented economic boom, globally. It has not only enhanced global trade and generation of revenue but has also given rise to novel ways of economic growth, especially to the developing countries. International tourism organizations are now working towards bringing in symmetry to the whole concept and to achieve global economical growth and prosperity through it. Answer 2: International tourism is present days' fastest growing economic sector and hence its continuous development and regularization is indispensable. Apart from generating huge tax revenue, this industry is also a vital source of foreign exchange and employment. Hence it becomes imperative for any nation to pay acute attention towards development and maintenance of its tourism resources. Tourism stakeholders play a vital role in shaping and sustaining tourism of any place. Tourism stakeholders could be any government or private body engaged in some form of tourism activity. Global tourism stakeholders may also include airports, travel agents, hotels, tour operators etc. Generically, each and every organization, which contributes towards tourism in some form, becomes its stakeholder. Tourism development is a complex activity, which not only includes tourism destinations, countries generating tourism, motivations and influences, but also relationships between people and institutions