WEEK 2 Discussion Questions for UoP BSA 310
How has globalization influenced business?
Globalization has influenced business in several ways:
Globalization and increased trade have increased market access by foreign manufacturers. As a result, this has increased price competition domestically and increases foreign imports.
According to BBC news, "Globalisation is blamed for many of the ills of the modern world, but it is also praised for bringing unprecedented prosperity." http://news.bbc.co.uk/2/hi/business/6279679.stm BBC news also provided a stark comparison between the severe economic loss in Detroit, USA and the economic boom in India within its I.T. industries.
Globalization has also eradicated many cultural and traditional values. For example, Corporate America no longer uses the phrase "Merry Christmas" in fear of offending non-christans and fearing an economic backlash. Instead, companies will use a generic, non-offending, and often vague phrase such as "Happy Holidays."
The 2005 article "Under Pressure: Issues Challenging Every CIO" refers to the Sarbanes-Oxley Act of 2002. What is the purpose of the Sarbanes-Oxley Act, and which businesses are impacted by it? What business events was this Act in response to by Congress? Do you think this will help or hurt the business environment?
The purpose of the Sarbanes-Oxley Act establisehd new or enhanced standards for all U.S. public company boards, management, and public accounting firms. The Act also established the "Public Company Accounting Oversight Board", which is charged with overseeing, regulating, inspecting, and disciplining accounting firms. All U.S. public company boards, management, and public accounting firms are impacted by the act. Th ...