Impact of Globalization to Us Firms

Impact of Globalization to US Firms

Globalization is a very popular word these days. It can be defined as a shift from local and regional things to global ones. In simpler terms, it is an increasing movement of capital, goods and services to the borders of other nations. Moreover, it is a defense mechanism and a catalyst for global movements.
Impact of Globalization to the US Firms
With the advent of globalization, the US Firms are increasing. The impact of globalization to the US firms can be seen in different-different fields and organizations. Market scenario in US has also been altered. The opportunities for new market and expansion of the existing market have increased. The demand for various products has increased regionally or locally. For example, American producer Coco-cola has expanded its market and has achieved success across the national borders also. Globalization has helped them (Dell & Paulette, 1999)
Globalization has brought many career opportunities, but reduction of jobs in certain fields is also seen. For example: reduction in IT jobs (Globalization and the American IT Worker, 2008). The realignment and expansion of markets has brought impact on the workers and accordingly their wages. The impact is different in certain organisations, for US import-competing countries the wages of workers are less compared to the US export industries. For example: Apparel organizations are the lowest paying jobs in the US, but a research on them stated that they pay comparatively more to the foreign workers.
With the coming of globalization, improvement in technology is also noticed. Rapid changes have been seen in this area. With the upgradation in technology, free trade has become possible. It has helped the companies to have better production and supply teams. The improvement in technology has helped transportation and telecommunication companies. Moreover, an increase in sending out information, people and goods can also be...