- Key points in Business Week Articles on Outsourcing & Impact on China Broadcasting Industry
There are several points that are identified in the Business Week articles on outsourcing. In the Rise of India article, the points raised are that outsourcing is considered as an opportunity for the jobless recovery in the tech and services between India and America.
However, the outsourcing has raised the jobless rate among US software engineers that have increased 4.6% in the 3 years. The report by Bureau of Labor statistics has recorded unemployment of IT professionals is 234,000. The outsourcing is a factor to the job losses. There is a big comparison of IT engineers present in Bangalore as compared to Silicon Valley i.e. 150,000 in Bangalore and 120,000 in Silicon Valley. Also, different sectors are outsourcing from India to manage accounting and food program (Hamm, 2003).
The Business Week article titled as The Price of Efficiency has mentioned the estimates reported by Forrester Research Inc. This research reported that millions of job losses are due to the outsourcing factor in the last three years. This has symbolized with vexing issue of outsourcing. The U.S. workforce has become vulnerable as up to 11% are living with the fear of job risk that are at stake. According to the earlier records white collar jobs weren’t affected in the business cycles, but now these jobs are also affected by outsourcing.
The article titled as Commentary: Stow the Rhetoric has mentioned the factor associated with outsourcing. These fear factors are present among the easing workers. This fear is of lost health insurance and its impact on lower job anxiety. It has seen that no effort is being made to create job opportunities for the jobless present in the country. Addressing to the American workers, the politicians emphasize on providing their citizen a fighting chance i.e. to survive in an economy that has become global.
Working in the China Broadcasting Industry, it has seen that the business outsourcing in the broadcasting sector has allowed other companies to get efficient and effective cost benefit. Although, the overseas job has boosted the Chinese economy and decreases the percentage of the unemployment. It is a great way for employees in the broadcasting industry to have an opportunity to work with an outsourcing company and offer its services to an international market. As, China labor is skilled enough to handle all the new technology present in the emerging market by offering low wage rate. Also, outsourcing brings investments for the economy and help in building strong industrial sector.
- Issues with the Current Economy and to the China Broadcasting Industry
A current article on international outsourcing of American Jobs titled as Where Are the Jobs has pointed out the outsourcing and offshore production for considering cheap labor over the expensive U.S labor. This has increased the job loss in U.S. and transferring the capital and technology to the cheaper foreign labor using offshore to employ them. The biggest scene is that substituting cheap labor with expensive labor from India and China is creating losses for the First World (Roberts, 2004).
The few impact of outsourcing issues on China Broadcasting industry are explained further. Like, the fast changing technology and intense competition with the broadcast companies in China are working hard to bring invention and innovation. This change is for providing the content for the consumers to fulfill their want. Also, play effectively and bring a competitive benefit for the broadcasting industry.
Outsourcing has created a new way for the china market to experience new market present around the globe. Also, industry has to understand the areas of broadcasting, networking, content delivery, and telecommunications and systems integration. This understanding can be gained from the high profitable economy, as U.S. Outsourcing open new ways for the employees in the broadcasting sector.
- The Medium and Long Term Impact of Several Outsourcing points on US jobs Overseas
The impact of outsourcing on US jobs overseas is rapidly increasing for the recent years and is likely to continue into the future, as well. The major portion of outsourcing is for the services of information systems. The major reason is the economic cost benefit that is gained by outsourcing services. Like many companies in US are outsourcing services from China, India and other countries.
The American jobs moving to overseas for the recent years from technology support to Wall Street research becomes the biggest and critical issue for the American job market. As, it is impossible to compete with lower costs and unique skills of labor present in India and China. Companies like IBM has 43000 workers in India.
It is a critical issue and point of debate that hiring staff of the companies due to lowering their company cost and boosting their profits are hurting the workers. As these workers lose their jobs and its prospects. Also, a huge turnaround of outsourcing has an effect on the U.S. classes and their incomes that have drastically changed. Currently, Americans jobs are hurt by the outsourcing jobs overseas and created a huge amount of job losses that can only be stopped by U.S. government through implementation of the tax.
Yasgur, S., & Nounou, E. (2003). Is Your Job Next? Business Week, 50-60. Retrieved from google.com.
Hamm, S. (2003). The Rise of India. Business Week, 66-78. Retrieved from BusinessWeek.com
Roberts, P. C. (2004). Special Report – Where Are the Jobs? Business Week. Retrieved from BusinessWeek.com
Cooper, J. C. (2004). The Price of Efficiency, Business Week. Retrieved from BusinessWeek.com
Mandel, M. J. (2004). Productivity: who wins, who loses? Business Week. Retrieved from BusinessWeek.com