Introduction to Business
Companies and individuals in today’s business environment can now allocate certain business tasks to external service specialists and providers. Particular focus is provided to the third-world countries or developing economies that can offer cheap labor to the organization. Outsourcing is utilized to reduce recruitment and operational expenses, share risks, concentrate on core operations, and to promote swiftness. However, the procedure has hidden costs in the contracting process and can expose confidential information regarding people or a firm. Virtual assistants or individual outsourcing is slowly rising based on the revelations of the video. American employees are forwarding their jobs to individuals in other regions to lessen their workload. The example of Donald Felton who gives up the money that he would have spent on coffee to outsource his duties indicates that the use of virtual assistants is related to opportunity costs (The Onion, more American Workers Outsourcing Own Jobs Overseas).
Infrastructure in Underdevelopment Nations
Infrastructure entails the capital equipment or basic stock that an area or country requires to facilitate development. Based on the ARCI video, most regions and continents are connected by bandwidths flowing from every place. Unfortunately, nations in the Eastern and Southern Africa do not have sufficient communication infrastructure to connect them with different regions. The lack of adequate communications and infrastructure programs can make the nations lag behind when it comes to financial development. The advancement of infrastructure is essential in promoting a region’s economic growth by increasing efficiency in communication, transportation, and production. The video indicates that a president or leader in the African continent needs to focus on developing communication infrastructure to enhance connections and interactions with other countries in the world. Communication technology will allow the third world nations to learn what is going on in various places to keep up with changes and compete with areas (WeOwnTV, the Africa Regional Communications Infrastructure Program).
Fortune Magazine
The top three corporations on the Fortune’s list are Royal Dutch Shell, Sinopec Group, and Wal-Mart. Most big firms come from the developed and powerful nations such as Japan, United States, and China. The Fortune List of enterprises has welcomed new entries while other firms leave the ranking. Some of the newcomers include Netflix, Salesforce.com, Hanes, Lithia Motors, Voya Financial, etc. The companies that dropped off to give room to the new entries include Big Lots, Oaktree, Consol Energy, Cliff Natural Resources, etc. Countries from emerging economies in the East Asia such as Japan and China seem to be on the move as they claw their way up the Fortune List. Some of the firms include Toyota Motors, Japan Motors, Fujitsu, etc. The global economy appears to be controlled by specific countries that have experienced tremendous development in infrastructure and communications. Third-world country companies are not represented on the list.
American Culture
The presence of foreign services and goods is a salient characteristic of globalization. America has drawn several cultural practices from various regions such as Italian and Mexican food and activities. For instance, people in the U.S enjoy eating pizza, pasta, mayonnaise. The famous black tea is a product from China. Other items from China include the keyboard, sushi and mode of dressing. Most of the American culture is derived from immigrants who lived in the country during the early eras starting with the Catholic religion, culture of drinking from the Irish, music from China and India such as the Gangnam and Jai Ho style respectively, and the French cuisine (Moran, Neil, and Sarah, 29).
Foreign Advertising
Despite attacks from local celebrities in the countries that use American stars for marketing, foreign advertisements are bound to continue since they provide income to both parties. The internet will just promote the practice of foreign advertising because it is easier to reach out to many people through social media. However, the American stars do not come cheap; hence, the foreign companies interested in using the celebrities have to cough out a lot of money (Bhattacharjee, 17).
Works Cited
Bhattacharjee, Anuradha. "Global or Local? What Sells in International Advertising?." IPE Journal of Management 5.1 (2015): 102.
Fortune. Global 500, 2015. Web. <http://fortune.com/global500/>
Moran, Robert T., Neil Remington Abramson, and Sarah V. Moran. Managing cultural differences. Routledge, 2014.
The Onion. More American Workers Outsourcing Own Jobs Overseas, 2009. Web. <https://www.youtube.com/watch?v=rYaZ57Bn4pQ>
WeOwnTV. The Africa Regional Communications Infrastructure Program, 2008. Web. <https://www.youtube.com/watch?v=23gkk7zoBkg>
