Pros and Cons of Globalization for Suppliers and Businesses Essay

Pros and Cons of Globalization for Suppliers and Businesses Essay

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Almost every business has been affected by globalization during the last few decades. The main changes for businesses have been in technology, competition and the exchange of information. For suppliers to keep pace with the economy they have to understand the advantages and disadvantages of globalization and how it works.

The three main benefits of technology are a higher quality of the product or service, and the saving of money and time. For businesses to increase the sales and be able to keep a high quality in the goods and services, they have to compete against other companies by having the latest technology with the best prices. To achieve it, most of the times companies decide to outsource their production that permits them to use more affordable materials and labor.

Due to the fact that companies outsource their production, the technology also benefits money saving by, for example, eluding travel expenses. Moreover it could also avoid the use of an office, because workers could telecommute from home. This can also decrease the time in which a task can be completed by vid...

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