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Here we present the results of the March 2 ASI E-News survey.
While globalization has resulted in more trade, it also has increased the transfer of production to lower-cost labor centers outside the U.S., resulting in factory shutdowns and unemployment in the U.S. If American business knew in 1989 that this is what globalization would look like in 2010, would you have signed up for it then?
“Corporate sellouts sold the American worker for a few short-term dollars.”
“We let our cost get out of control, and we did a bad job of reinvesting capital to help control cost.”
“We went (to globalization) because our competitors were going or were planning on going. One company in an industry of 10 forces the other nine. Competition - or the threat of it - created a no-option environment. Water flows downhill.”
“(Globalization) has definitely changed the world order, and I guess we have no one to blame but ourselves.”
“Big business was looking at their bottom line and jumped at the chance to save money and increase profits.”
“If we had not (turned to globalization), Asia or the EU would have initiated the concept, leaving U.S .markets in a noncompetitive price situation.”
“In 1989, we were misled into the globalization fiasco. What helped were the stupid environmental regulations and the out-of-control lawyers and workmen’s comp - especially in manufacturing in California.”
“American businesspeople did not care what (globalization) would look like in the future; all they cared about were short-term profits so they could make their numbers and get their bonuses. American business went downhill when taking pride in making a good product and a fair profit gave way to MBAs living for the quarterly report.”