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Journal Article Title: Globalization and Your Career Author: Eric Pan Name of Source: IEEE Engineering Management

Review 33.4 Assessment: Does source have a reputation for honesty and reliability !es Is the source potentially biased "o# because the article includes both the advantages and disadvantages of globali$ation in addition to several perspectives. %hat is the purpose of the material &o inform readers on the effects of globali$ation# in addition to creating awareness and giving suggestions to professionals in the wor' field today. Is the author credible !es %here did the source get its information E(cerption from the boo' Perpetual )usiness Machines* Principles of +uccess for &echnical Professionals ,an you verify the material independently &here is one specific source but I am still confident that I can verify the information. Is the material current It is about - years old but has proven to be accurate when compared to my other source# which is only . years old. Summary: Economic globali$ation has improved the flow of money# goods# services# people and employment across the nation. &he trend of globali$ation is constantly accelerating. /lobali$ation impacts trade surpluses and deficits# and supply and demand. ,ustomers and suppliers can now communicate from opposite sides of the world. )ut on the other hand# globali$ation has recently led to displacement of 0obs. )ecause of the lowering of trade and investment barriers and the rise of technology# companies outsource 1obtain goods from outside supplier2 manufacturing# research and development# and service delivery# wherever the e(penses are the lowest. /lobali$ation has essentially brought the world closer together through more effective communication# finance# trade# and transportation. "ew global sources of customer demand and product supply has brought new competitive threats and choices of resources. /lobali$ation initially caused shrin'ing profit margin# leading to the need to reduce labor costs# which has essentially forced businesses to outsource. 3irms have gained advantage by selling products that are manufactured outside the 4nited +tates with low5 cost labor# and low5cost natural resources. 6utsourcing has leveraged the wor'force worldwide# where wor'force is s'illed and available# wages and e(penses are low# and mar'et conditions are profitable. 3or this reason# globali$ation has also increased business competitiveness# creating emerging mar'ets in other countries such as ,hina# India# and 7atin 8merica. 4.+. businesses have opened global offices and e(panded their products and services to other countries. )usinesses benefit a lot from globali$ation. 9owever# these benefits create disadvantages for the professionals in the wor'place. /lobali$ation is creating e(ceptional uncertainties in many careers. It increases accessibility to a global labor mar'et and the commodi$ation of intellectual property. &he 'nowledge5based global economy puts pressure on businesses to obtain 'nowledge wherever it:s available. &he 4.+. is shipping s'illed 0obs to less developed countries to reduce costs in off5shoring. Professionals with 'nowledge and e(perience that was once valuable are now limited with their career choices.

It is arguable that the competitive 'nowledge economy and globali$ation provide the base for lasting economic blue and customers and raise the living standards in developing countries. It is also arguable that the negative effects of globali$ation are only temporary and the economy will eventually recover and grow. 9owever# globali$ation creates une(pected imbalances in supply and demand around the world. &o compete# businesses adapt to the globali$ation trends# while maintaining competitive advantage# where employees can easily be replaced. 3rom a professional viewpoint# leveraged global wor'force has caused displaced home wor'force# creating unemployment. &his means relocating to new# emerging mar'ets# or perhaps pursuing a new career or venture# all due to the increased competition in a shrin'ing 0ob mar'et. It is important to ac;uire new 'nowledge and understanding of the business principles to e(pand our career prospects and ;ualifications. )eing professional is not 0ust about having technical competencies or values# but it is also about mastering the principles behind business strategy# process# and people. &he acceleration of globali$ation has created unprecedented opportunities# threats# and uncertainties for professionals and for business in general. <nowledge# productivity# and money are no longer solid competitive advantages. 3or professionals to become effective in their contributions to and participation in business# constant self5 development# interdisciplinary 'nowledge# and cross5functional and intercultural teamwor' are the essential ;ualifiers. Article Title: &he /ood# &he )ad# 8nd &he 4gly +ide 6f /lobali$ation Author: Panos Mourdou'outas Name of Source: 3orbes Maga$ine Assessment: Does source have a reputation for honesty and reliability !es Is the source potentially biased !es %hat is the purpose of the material &o effectively get readers aware of the upcoming challenges and possibilities brought by globali$ation. Is the author credible !es %here did the source get its information &he contributor# Mourdou'outas# who speciali$es in global mar'ets# business and investment strategy# has e(pertise in the sub0ect matter. ,an you verify the material independently !es# there are many active hyperlin's throughout the article. Is the material current !es# it is from .=>>. Summary: /lobali$ation is defined as the increasing integration and interdependence of domestic and international mar'ets. It has three sides to it* the good side# the bad side# and the ugly side. &he good side consists of effective communication and new opportunities. )usinesses can effectively and efficiently communication with their partners# suppliers# and customers. &hey also have improved the flow in their supply chain management# which includes their suppliers# inventories and distribution networ'. 7ocal producers can sell their products in distant mar'ets with the same amount of ease

and timeliness. /lobali$ation also has increased national /DP# raised credit leverage# and accelerated money flow across the country. &he good side of globali$ation has now led into the bad side# which we are e(periencing today. &he bad side of globali$ation includes new ris's and uncertainties created by the integration of domestic and local mar'ets# increased competition# high levels of duplication# price and profit imbalances# and business and product destruction. Products are ;uic'ly becoming commodities# giving companies with little pricing power and constant pressure by new competitors. %ithin the last four years# globali$ation has also caused a decline in money flows# a decrease in /DP# and increasing rates of unemployment. &his not only affects the 4nited +tates# but also is hurting the economy worldwide. &he ugly side has yet to come and could potentially consist of more employment declines# currency devaluations# trade barriers# and trade wars. Analysis of both articles: )oth articles discuss that although globali$ation has given us many benefits# it has also created underlying problems. )oth articles agree that globali$ation has caused new ris's and uncertainties# has increased competiveness among companies# has caused products to become commodities# and has forced companies to change their strategy accordingly. )y businesses adapting to the global changes# they try to gain a competitive advantage. ,ompanies are willing to ta'e means necessary to become successful in the mar'et# even if it means replacing employees and relocating company offices to other countries where e(penses are cheaper. &his puts professionals in the 4nited +tates at a disadvantage. Even if they are highly ;ualified and 'nowledgeable# companies rather have someone 0ust as s'illed# but willing to wor' for lower wages. &here aren:t many dissimilarities between the two articles in terms of content# apart from 3orbes tal'ing about /DP or aggregate demand drops within the last decade and tight credit among good and bad borrowers. Globalization and Your Career is much more positive# and e;ually emphasi$es both the benefits and negative impacts of globali$ation. 6n the other hand# 3orbes has a greater focus on the negative effects of globali$ation rather than the positive ones. Note: I did not include the source of Investopedia because I only used it for definition purposes and there was no author. It is a credible website. 9owever# most of the assessment ;uestions would be left unanswered because it is not an article. &he only purpose is to give an accurate definition of the term globali$ation.