The Neumann Business Review
The Journal of the Division of Business & Information Management
In this first edition, all contributors’ topics relate to the global economy. When nightly newscasts are filled with stories from around the world, it is appropriate that students in our colleges and universities are taking the time to research our interaction with the rest of the world and it is our privilege to present some of the results of their work here in The Neumann Business Review.
In his paper, Nicholas Milillo discusses the efforts made by China to bring the games to Beijing and raises the question of whether this international appearance will have an impact on political and economic conditions in China. Mr. Milillo argues that, at least the body organizing the games within Beijing, is expecting economic development and believe that some governmental and cultural change is likely.
Umberto Bifulco offers a cautionary tale of the change in the value of the US dollar internationally and suggests that this country would do well to examine its evolving standing in the world economy. The author suggests that greater attention must be paid to emerging foreign markets and our dependence on imports of all kinds, including energy. He concludes that the security of the US, that is of so much concern to many of its citizens, would better be protected by a more informed approach to economic interaction with the rest of the world.
The third article presented in this edition of The Neumann Business Review proposes that the subject of outsourcing in production, especially off shore outsourcing, requires a deeper and more subtle analysis than simply a debate between the proponents who argue decreased costs and the opponents who decry US job losses. Michael Dendler focuses his discussion on the craft trades and acknowledges the cost to domestic businesses and workers, but also argues that there are additional costs incurred when production is outsourced, particularly offshore.
Mr. Dendler suggests that in outsourcing often aesthetic quality is sacrificed for the homogeneity required by mass production. Laborers may, in heavily outsourced industries, lose their ability to acquire new skills thus negatively impacting productivity. Also innovation, that might have occurred in US production facilities, may shift to foreign productions sites instead.
In the final article offered in this edition, Ira Hobson examines the power and impact of Transnational Corporations on this country and the rest of the world. Mr. Hobson offers the view that due to their tremendous market power, TNC's have been able to influence political and economic policies worldwide to their advantage.
While doing so, TNC's have taken advantage of, or even created the perception, that world wide development is dependent on their success and have often inflicted great damage on people and the environment around the globe, justifying that damage as a necessary side effect of development. Mr. Hobson concludes that TNC's could be the instruments of positive change around the world with appropriate and coordinated international regulation.
It is to be hoped that the four articles presented here offer ideas that encourage discussion, whether in agreement or disagreement with the views of the authors. We also hope that you enjoy this, the first volume of The Neumann Business Review, and would welcome future submissions from undergraduate students, current and graduated, that provide new topics of conversation.
Ellen S. Sloss