What factors are contributing to the intensity of today's global competition?© BrainMass Inc. brainmass.com March 4, 2021, 8:04 pm ad1c9bdddf
What factors are contributing to the intensity of today's global competition?
There are several factors that attribute to the intensity of today's global competition. Today the World is a global village; the levels of competition have increased by leaps and bounds especially in the last one decade. In my opinion, there are five major factors that have contributed to this paradigm shift are:
a) Outsourcing work to developing countries
b) Emerging giant economies like China and India
c) Falling wages in industries such as manufacturing.
d) Better Technology
e) Increasing workforce.
In my opinion, the most important factor that has contributed to this change is Outsourcing of not just in IT industry, but also in other industries. Many developed countries such as U.S and U.K have outsourced a lot of jobs to developing countries such as India, Vietnam and other countries, no only due to the cost factor, but also ...
This deals with factors contributing to global competition in this age of globalization.