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Revolution of business

The advent of globalization spearheaded the information age. It opened new opportunities leading to the revolution of business in the 21st century. Trading became easier due to the global ubiquity of the internet. Land is no longer the measure of power, today; it belongs to the person armed with vital information. A new age of convergence has begun, bringing mankind closer to each other more than ever before, and indeed the world has been reduced to a tiny size (Friedman). Nonetheless, Thomas Friedman’s flatteners are seen today and it’s not showing any signs of slowing down.

He stressed that these flatteners “evened out the playing field”, thus giving individuals more freedom. The revenues that globalization influenced is significantly affected the world’s finances. On that note, how will these flatteners; insourcing, outsourcing, informing, supply chaining, and uploading affect the demand for finance professionals? It is safe to say that finance professionals will enjoy an increased demand due to increasing population of wealthy people and more investments (Nich). Insourcing is the allocation of jobs to a body that dedicates their service to a particular operation.

UPS is one of the companies that do this kind of business. Basically they ship products in behalf of

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other companies but apparently, they also operate beyond shipping services. For instance, UPS employees also restore Toshiba computers in their hub (Friedman). Outsourcing is a polar opposite of insourcing. It is the delegation of everyday tasks such as manufacturing, product design or customer support to third-party companies. This is done primarily to reduce a company’s expenses. A good example would be the production of the iPhone.

Apple has outsourced their operations to a manufacturing company in Shenzhen, China. Meanwhile, in-forming is a global flattener that made information accessible by anyone. Search engines like Google, Yahoo Search, and Alta Vista made this possible with their keyword matching technology. Users just have to type in the information they want and then the search engines will match it with relevant content from the internet. This led to the development of websites whose main purpose is to give information like Wikipedia. Wikipedia’s database includes a wide array of topics from Science to Religion and many others.

Supply chaining on the other hand is the systematic method of bringing a product from the supplier to the consumer. It involves the movement of the product in all its avenues including shipment and its arrival to grocery shelves. This is evident through the distribution of groceries that Wal-Mart has utilized for years. Lastly, uploading or open-sourcing an innovative method which offers an easy access to a copyrighted content. Friedman (2005) described this as “the most disruptive force of all”. Napster, Limewire and other peer to peer software are controversial software that are born out of this flattener.

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