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Role Unions Play in a Global Economy

In: Business and Management

Submitted By hpeabody
Words 1038
Pages 5
Role Unions Play in a Global Economy In the present day, a lot of people converse about how much the economy has changed and the new economy. For instance, in the United States buyers want more high-quality services and merchandise, more than ever before and they want it custom-made to their specific needs. Technology is continually and rapidly changing, which generates innovative, high-quality goods; therefore customer’s needs are altering too. These changes put new stresses on companies and they have to be very flexible and have the ability to change their products to meet customer’s demands. The incredible variety of selections mean consumers will not be dedicated to any one business that doesn’t give immediate satisfaction. The economy today is a global economy. Capital travels around the world seeking profits more quickly than in the past. Information technology permits companies to transfer from high to low-cost locations and to incorporate manufacturing into a wide-reaching output-input chain. Globalization also means just as soon as one country tries to regulate capital, it exits that country and this forces it back down and removes the controls. Some believe with the economy now, technology is creating and increase in output of goods and services, therefore leading to a prosperous economy and low inflation. Production that uses cutting-edge electronic technology calls for exceedingly skilled workers who are flexible. In the past industries where the products were made in less than satisfactory working conditions, by workers who were physically strong but were most like uneducated, now work is done in a technologically innovative workplaces that is clean and done by highly accomplished and educated employees. However, for service-producing businesses, working conditions are similar to working conditions of those who worked in hot, dirty factories…...

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