Impact of Modern Technology
As citizens of the twentieth century we have witnessed more change in our daily existence and in our environment than anyone else who ever walked the planet. But if you think the pace of change was fast in this century fasten your seat belts The twenty-first century will be even more complex fast-paced and turbulent. It will also be very different.
Just as wars two world wars the Korean conflict, Vietnam, and desert storm-dominated the geopolitical map of the twentieth century economics will rule twenty first century. The competition that is normal and inevitable among nations increasingly will be played out not in aggression or war but in the economic sphere. The weapons used will be those of commerce growth rates investments trade blocs imports and exports.
What is behind all this change? Global competition is the single most powerful economic fact of life in the 1990s. In the relatively sheltered era of the 1960s, a mere 6 percent of the U.S economy was exposed to international competition. In the 1980s, that number zoomed past 70 percent and it will keep climbing. U.S exports now generate one in six job as recently as 2986 exports generated only one in eight.
Fall Of Communism
To be sure the fall of communism has accelerated the forces of global competition. As an ideology communism began to unravel with the June 1989 elections in Poland the first communist state to evolve in to a democracy. Subsequently, communist regimes all across central and Eastern Europe began to fall like dominoes.
Managing Affairs in Relation to Current Global Environment
Following are some steps being adopted by the nations to meet the current global challenges.
Profound Structural Changes
In fact as nations around the world make the transition from wartime to peacetime economy from industrial societies to information based societies. We are witnessing profound, wrenching structural changes brought about by a number of factors.
Downsizing and Adoption of Technology
Nations are bringing changes in their business related forms and organizations and carrying out downsizing by adopting the available technology.
The world trade organization already brought the world to close and tool free business will be started among the nation for this skilled and professional sound people will be available to all nations.
Falling Real Wages
As a global competition increases, corporations have been able to boost productivity using combinations of restructuring downsizing; investment in new technology and unemployment brought the real wages down and helping the technically sound person.