IT304.2 - IT in the Global Economy AIT Department George...

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IT in the Global Economy AIT Department George Mason University Author: Dr. Anne Marchant
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ICT and the changing nature of work Work is changing from the perspective of both employers and employees Telecommuting Job sharing Outsourcing Nature of jobs has changed in many professions: Travel agents Real estate agents Stock brokers Banking
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Post-Fordism Fordism is the application of assembly line processes. Post-Fordism (or After-Fordism) is the application of Information Technologies to create flexible systems of sourcing and production. Why would this be controversial?
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Old Paradigm In the industrial age, non-industrial countries provided raw materials for industrial economies. Industrial nations manufactured goods and provided these goods to the markets of the non-industrialized economies.
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New Paradigm Now the picture is more complex. Economies are driven by information in the form of market data, financial indices, client data, etc. Operations may be highly diversified depending on market conditions. Companies need to be quick on their feet to adapt . B2B (business to business) is increasing at a rate faster than B2C (business to consumer) Electronic money is facilitating globalization
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Global Triad Over 80% of manufacturing and merchandise exports are generated by 3 regions: US, EU, and Eastern Asia. Note that these 3 regions also generate the most FDI-foreign direct investment. (Dicken, 74)
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Transnational Corporations (TNCs) TNCs have grown exponentially over the past thirty years (UNCTAD) “TNCs account for around two/thirds of world exports of goods and services” (Dicken, Global Shift , 52). Impact of FDI (foreign direct investment): post WWII huge surge in FDI—40% faster than world exports in the 1960s and twice the rate of global GNP. (Dicken, Global Shift , 52).
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Megacorporations Will Microsoft or Wall Mart demand seats on the UN security council some day? Example: German and French pharmaceutical mergers are planned as a way to compete with US companies. What is the result when large companies merge across international lines?
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Trade in ICT Services Dominated by US and Western Europe The US, UK and France have Service surpluses but manufacturing deficits Japan and Germany have service deficits, but manufacturing surpluses.
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US Employment Projections Fastest Growing Occupations Fastest growing occupations are computer and health related fields. ( BLS ) Hypothesis: If the US economy is moving in the direction of medicine and biotechnology, does this imply that this will be the next “Commanding Height”?
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Lenin referred to sectors of the economy
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This note was uploaded on 02/02/2011 for the course IT 304 taught by Professor Kendal during the Fall '09 term at George Mason.

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IT304.2 - IT in the Global Economy AIT Department George...

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