Reflective Consolidation Paper Casandra R. Langley MGT 6053 – Perspective International Business Michael A. Rinkus Lawrence Technological University April 3, 2011 In the beginning of this course I was intimidated by the work load of weekly discussions, discussion modules, papers due the same week as modules, the WTO debate and finally the term paper due the same day as consolidation paper, but I completely enjoyed every minute of it. Yes that opening sentence is extremely long, but it is consistent with the course workload.
This course is very business healthy and organized with an approach of reinforced course work load to keep us in tune with the topics of international business. The book for the course is very detailed as well and is consistent with the lectures and modules. I will go into detail about the information that benefits my professional outlook for international business and following that will be my opinion on global capitalism. All in all, the course provided me with positive insights on international management and what it entails in order for it to function.
In the past, my understanding about international business was something I had to learn quickly while I worked, causing me to miss all the nooks and crannies of political functionality. In this class, I acquired knowledge of national differences in politics, economics, ethics, strategy, structure and operations. I understand the purpose of balance of trading, which is the largest component of a country’s balance of payments and the largest benefit for an economic unit. Until taking this course, I thought that the U. S. eficit was due to government officials being overpaid and stealing. However, I learned that the issue is more broader than that, which having a lack of export of goods to other countries the U. S. is loosing competition in the marketplace, with that being said the value of the dollar is decreased. The U. S. market abilities is not appealing to other countries and not only that, the inability that the U. S. government has for balancing government spending when they have lack of balanced trade, shows other countries that the leaders of the U. S. re immature and unprofessional. I learned how the capital market supports the indirect and direct connections of bankers’ functionality, which are known as the market makers. It benefits borrowers by increasing the supply of funds available for borrowing and by lowering the cost of capital. It benefits investors by providing a wider range of investment opportunities, thereby allowing them to build portfolios of international investments that diversify their risks. Ok, I have a small business and after learning this information my business prospective have broadened.
The WTO debate was a fun exercise and communication of difference in opinions of the debates made me aware that many of us are lost on how the system really works. I learned how to perform my key functions obtained from this course in order to strive and prosper in the international business environment. I utilized this book to help me research, the business aspects, strategy, plus prospects of IBM and Karmanos Cancer Institute. This course prepared me to be able to discuss business on a more mature, thorough and relaxed level of confidence. My vision of the U. S. conversion to global economy is proven to be promising.
On the positive side, global capitalism is beneficial to small and under developed businesses, which allows them to hire foreigners at lower cost. Jobs are slowly coming back to the U. S. , the economy is striving to keep up with global change, expertise is being shared amongst diverse practices and new strategies are being formulated to conform to the economic crises. On the negative side, US citizens got laid-off and constantly have to relocate overseas with new employers this caused a decrease in tax payers. Decrease in tax payers caused the loss of schools, public facilities, overnment services and it getting so bad that even doctors are starting to get laid-off. Marketability sunk because of increased prices of gas, clothing, goods, food and more that makes us comfortable. In closing, the insights obtained from this class allowed me to comprehend the politics surrounding the global economic downturn. The experience gained from this course enabled me to demonstrate a more competitive strategy to approach the field of business and medicine. I think that the U. S. will recover very slowly and that global capitalism is beneficial to us.