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Identify and Review Specific Global Trends

Identify and review a specific global trend that you see developing. How will this trend influence local business, and how should you make plans for it in your own career? Please provide references to support your position.

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One of the main global economic trends that has been developing is outsourcing, but not with the big companies. The smaller companies are beginning to outsource, and what started out at domestic outsourcing has been slowly evolving by the smaller companies into global outsourcing. The smaller companies have less capital to work with, so they're at an automatic disadvantage to the bigger companies. The bigger companies started outsourcing a longer time period ago than the smaller companies. The smaller companies remained in the background, but began to experiment, after the footprint of the larger companies was made. The experimentation began with domestic outsourcing, and the smaller companies saw how successful this was. This included outsourcing activities like payroll processing, certain human resource functions, benefits administration, and similar processes.

The smaller companies saw that by outsourcing these activities to domestic companies, it saved money because the outsourced company could do the same activity cheaper, because it is their main ...

Solution Summary

The solution provides a detailed discussion identifying and reviewing a specific global trend that is developing, how the trend will affect local business, and how you can make plans for it in your career. References are provided to support the position taken.