Question

Conduct an online research on any consumer services industry to determine the competitive nature of the industry, both domestic and global. Also analyze the role of the economic system that the industry operates in and the local and international laws that affect the industry. Write an essay of about 500 words on your findings.

Answer 1

Answer:

The various consumer services industries in United States are education, hospitality, financial service industries, and so on.  

In the United States virtual technology has made outsourcing services easier and more efficient. For example, a programmer can offer her services to companies around the world without having to travel or even meet those she works for. Computer programming, web design, accounting, and customer support are among the services exported to countries around the world. The competitive nature of the programming industry is becoming one where the quantity supplied (workers) is increasing as the education availability increases for developing nations. This surplus has driven down the cost of labor for programmers. In the United States, a computer engineer once commanded one of the highest salaries in the professional community with a four-year degree. However, worldwide competition has driven these salaries down. There are moves to create laws that would prevent these jobs from being outsourced, however, a side effect of this trend is that more jobs have been created to manage the outsourced employees to ensure quality and efficiency. The North American Free Trade Agreement has enhanced the increased outsourcing particularly among Canada, Mexico, and the United States. There exists no viable US legislation that governs outsourcing services specifically. The international laws that govern outsourcing mostly deal with intellectual and property rights. As companies offer workers the necessary information to do their jobs, some trade secrets must be revealed, and this can lead to the theft of intellectual property. For example, the Indian Copyright Act of 1957 and Copyright Rules of 1958 do not cover software or computer programs. US companies hiring programmers from other countries should be aware of the laws applicable to the work they are hiring for. India’s economic system has been moving from a social democratic system to a market-based system since the 1990s and has led to economic growth that rivals most every other nation on earth. This means that the outsourcing opportunities in India are plentiful and will continue to grow.

Explanation: