Why I agree with The World is Flat by Thomas Friedman Essay

Why I agree with The World is Flat by Thomas Friedman - Essay Example The Japanese, Chinese and Indians or Hindus are part and parcel of this World is Flat economy. According the Thomas Friedman, the recent series of technological and economic factors have been pooled together since the year 2000 with the improved organizational and personal capacities plus the additional of more new players (nations) in the worldwide economic playing field has created a huge impact on the American economic Community like a tsunami. This Tidal wave will continue to change the lives of many Americans for more than a decade. The Friedman book is a wake up call for Americans to adjust otherwise; they will be overcome, economically by Japan, China and India. playing field will be leveled FLAT so that there will be more players coming from far away places, including marginal or third world countries. The third world countries can now take advantage of the benefits of HIGH advances in technology and productivity. A very good example of the FLAT world concept of Friedman is the DOT-COM bubble. Dot-com is the onset of the internet age. A person can now talk, some call it chat, with other persons and receive and send information from one corner of the world to the farthest point thru the internet. Some quarters say that the internet age has resulted to the BUST of some American companies. This is true because now that the world is FLAT, economic players from China and India can compete for the manufacture of amenrican products. Due to the hDue to the high wages and other operating costs of maintaining factory producing American goods, the American businessmen can now put up its offices in China and India where wages are ten times or more lower than the average American worker's earnings.For the American employees, this is a bust because it will add their unemployment situation. For the American businessmen, they will generate huge profits from the low labor wage and low costs of operating a factory in China or India. For the Chinese and Hindu nation, they are the winners in this bust situation because they are now hired and paid wages that are very much higher than the average Chinese or Hindu wage. The pride of working in a Multinational company is such a ego boosting to the Chinese and Hindus. A good example of his THE WORLD IS FLAT philosophy is Mr Friedman's stories of many foreign companies that cropped up to provide the technological services to American enterprises is the case of An American Income tax company outsourcing its basic income tax return filings to companies based in India.The National language of India is English where communication is not a problem. The Indian employees are paid around ten times lesser than the average American worker. This cost savings for the American company will result to lower American selling prices and / or increased company profit.This only shows that workers in the third world countries, including china can be trained to produce goods and service that is at par or even better than the ones produced by the American workforce. This is made possible by the internet and other improvements in technology. This clearly shows that the American industrial footing as the "big dog on the block" has been successfully questioned by the

What are the main areas of risk facing a medium-sized developing Essay

What are the main areas of risk facing a medium-sized developing housing association explain what might influence its response to those risks and what a risk strategy might include - Essay Example Risk is often seen as possibility of an undesirable event. Under scenario analysis, risk is differentiated from threat. A threat is considered an event with very low probability but possessing serious harms. Analysts are often unable to allocate a probability to threat and for that there is no effective preventive measure is available. The only precautionary measure that can be taken to cope up with a threat is to reduce the set of definite risks before proceeding to an experiment, project, action or innovation. If any of the above-mentioned variables reduces to zero, then the overall approaches to risk will be zero. For instance, humans are extremely vulnerable to the threat that aliens might control their minds, which would have a severe effect. But since we have never seen aliens therefore, we can say that they might not pose such amount of threat so the overall risk reduces to almost zero. Every type of business possesses some level of risk. Many risk-averse people prefer not to do business, since it includes a large amount of risk i.e. a business might work, and a business might not work. So there are 50/50 chances that one will be successful in respective business. Every business has certain risks, some of which are foreseeable while others cannot be predicted and are therefore uncontrollable risks. Risk is an important component of small and medium sized business as well. Some common types of losses in SMEs include fire, theft, flood, injury, legal liability, disability, etc. Undoubtedly, every business entity requires vigorous risk assessment and management system but Small and Medium Sized Enterprises (SMEs) need to put even more attention to risk management since they may not have means and resources to control and manage risks due to several limitations and their varying size. However, this is not the case in large multinational corporations because organizations take special