...Globalization of Health Care Principles of International Business (BUS301.90) Post University Abstract For leaders in business and those few economic elite members, globalization is virtuous. Low-cost labor overseas facilitates production facilities in locations where labor and healthcare costs are low, and sell the finished goods in nations where wages are high. With the exception of the United States, almost all wealthy nations provide universal health care. These provisions are challenging due to increasing costs, as well as social, political, economic, and cultural environments. Globalization of Health Care Numerous global industries have resulted in offshore operations; the medical industry has become not dissimilar. With modern developments in technology in recent years, outsourcing of medical procedures has become a reality. The internet has vastly expanded the realm of possibilities for the medical industry, and has made it possible to transmit large amounts of information to countries; such as India, where it is then processed and returned. The United States has some of the highest costs for medical care globally; which has led to its’ citizens to search for economic alternatives. Outsourcing medical procedures to medical professionals in nations with lesser pay would undoubtedly benefit consumers; however, the United States holds a higher standard of care than those where treatment standards may not take precedence. This process would then take some...
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...Globalization and Health Care Samuel Palmer Week One Assignment One IBA301.90 Author Note Samuel Palmer, Business Administration-Marketing Major, Post University, Waterbury, CT. Merriam-Webster defines globalization as the development of an increasingly integrated global economy marked especially by free trade, free flow of capital, and the tapping of cheaper foreign labor markets. Same can be said for health care. With rising costs, patients and health care systems have begun to look abroad for services and employees. I will address three questions in relation to the globalization of health care in this essay. Firstly, is globalization of health care good or bad for patients? Second, who might benefit from the globalization of health care? And lastly, who might lose with the globalization of health care? Is globalization of health care good or bad for patients? This depends on who the patient is. For the United States, globalization means plainly the exporting of patients to other countries and the importing of medical services from other countries. With lower medical costs in other countries, patients now have the option to travel to those countries to receive care. Of course these patients inherit travel costs and any other necessary expenses associated with the travel, but is it not worth it to get better? U.S. medical facilities are now incorporating medical collaboration from physicians in other countries, where the need to be physically present is...
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...Globalization impact on healthcare Faculty Advisor; Prof. Peter Carrillo Student; Mohamed Osman National University 03/31/2013 Table of Contents Abstract 3 Problem Statement 4 Globalization and Poverty 5 Globalization and Climate Change 7 Globalization and Immigration / Emigration 8 Globalization and Communicable / Non-Communicable Diseases 9 Conclusion 12 References 13 Globalization impact on healthcare Globalization is the process of promotion of economic integration, communication exchange, cultural diffusion and travel, which facilitate the exchange and connection between nations, commerce and individuals. The effect of globalization on healthcare and individuals is complex. The globalization of healthcare has provided opportunities for many organizations to rapidly develop their products and to expand their network of customers also global transportation and the communications revolution enabled rapid response to epidemics and catastrophes. On the flip side, the rapid mobility of people across borders, the spread of infectious diseases is a great threat to everyone, particularly in poor developing countries. “Today, no microbe in the world is more than 24 hours away from the gateways of every industrialized country, and what incubates today in the tropical rain forest can emerge tomorrow in a temperate suburb.” --Nils Daulaire (Kelley, 2005) The link between globalization and global warming and environmental...
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...Healthcare in the United States Ten years ago we wouldn’t have thought of medical procedures moving offshores, but today we see it more often than none. People are going to places like India, Singapore, and even Mexico to receive care. Technological advancement has made outsourcing of medical work possible in recent years. The Internet makes it possible to quickly transmit large amounts of data to countries such as India where the information can be processed and returned. Countries like the U.S. have costly medical care facilities prompting people to consider cheaper alternatives. A heart surgery in India is cheaper and affordable compared to that of U.S. The outsourcing of medical procedures to nations where medical professionals are paid lower could clearly benefits consumers. However, the treatment standards in countries such as India may not be up to the standards found in the United States, and that the process takes some control out of the consumer’s hands. The United States health care professionals see the outsourcing as a negative trend, however, medical insurance companies view any means of cutting costs as a positive move. The middle class has been fueling the economy in the US for the last decade but as it shrinks, it is no longer able to do so. I think we are witnessing the long term effect of globalization. High unemployment, stagnant wages, credit evaporated and reduced spending. The globalization of health care should result in a more efficient industry. The...
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...Globalization of Healthcare Business 250 Strayer University One of the biggest rising expenses for individuals in the United States and the U.S. as a whole are health care costs. They are having disastrous financial consequences for families as well as individuals. Many consumers have to go without coverage entirely due to the high costs of premiums. However, the costs incurred without health insurance can often threaten an individuals’ financial well-being. Many Americans have already started seeking medical attention abroad due to various economic issues, level of care given, and procedures currently not available in the U.S. Employers have also started seeking different health care options abroad by offering incentives those employees who are willing to go overseas for their major medical surgeries versus having them done in the U.S. at a much higher cost. Ultimately, the U.S. has to do something in order to make healthcare more affordable for Americans, otherwise consumers are going to be forced abroad to look for health care services (McCallum & Jacoby, 2007). By the year 2015 one out of four Americans are expected to be without health insurance. From the year 2000 to the year 2006 health insurance premiums have increased at a rate of seventy eight percent. Since then employee contributions for health insurance premiums have also significantly increased with employers passing the additional costs they have incurred directly to the employee. Many of the insurance...
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...overall affect of this globalization has yet to be realized, but in the short term for the middle and lower class echelon of thee fore mentioned economies, globalization has been devastating. In the first few pages of Chapter 1 “International Business (Competing in the Global Marketplace)” an example is given referencing the necessity for international healthcare due to the rising cost and inaccessibility to quality healthcare in the United States. The most interesting part of this example to me was the following statement. “Some insurance companies are starting to experiment with payment for foreign treatment at internationally accredited hospitals”. (Hill, 2011) Initially I found this statement comforting in the fact that insurance companies were thinking outside of a microeconomic healthcare model in order to better serve the people that they insure. On a larger scale this statement is disconcerting. It is disconcerting in the fact that everything associated in our healthcare system from equipment supply to the education and utilization of our medical professionals is either being mismanaged or financial gouged by government and the private market. As a result of the gauging, like any other business cheaper goods and services are being sought out elsewhere. It is astounding that it is cheaper to fly to another country and have a major surgical procedure performed at a quarter of the cost then it would be if performed in the United States. “Globalization refers to the shift...
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...assist in building a successful healthcare organization. Discussions will also include the expectations of the employees and the work practices and procedures that will be obligatory. In developing the leadership evaluation management must consider language, decision-making and daily work practices. An initiative to measure and meet all necessary performance objectives must involve major improvements of the healthcare processes. The following Performance Management’s Key Components are a must with the implementation process. Planning – Set goals and measurements to communicate the company’s requirements. Developing – Address and improve performance Monitoring – Observe productivity. Does the employee comprehend the tasks being implemented? Rating – rate the performance of the employee. Rewarding – compensate and award staff When conducted properly, evaluations serve that purpose by: (1) showing employees how to improve their performance, (2) setting goals for employees, and (3) helping managers to assess subordinates' effectiveness and take actions related to hiring, promotions, demotions, training, compensation, job design, transfers, and terminations (Kennedy, 1999). In implementing the Human Resources Department, there must be a certain criteria when posting and filling positions. Ask yourself, “What type of employee is required in filling the position?” The person’s character is just as important as trust and self-respect. The healthcare system has to align executive...
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...With the rise of globalization the world today is more interconnected than ever before, with this new economic reality there bound to be both good and bad result. As America being the biggest and most dynamic economy in the world, the question of whether globalization of business is either good or bad for America is complicated issue. In order to clarify the issue, it is necessary to see who benefited and who lost out on this. The purpose of this paper is to determine whether globalization of businesses is good or bad for America. The globalization of businesses brought more competition and loss of jobs to the average American workers, and factories (Roberts, 2010) . At the same time globalization opened the doors to new markets and more low-wage labor forces for large corporations in America, (Zagaria, 2011). The globalization is essentially trade of goods and services across borders, with the advent of the internet; globalization was solidified as a new economic reality. Illustrated in The Rise of the Multinational Corporation by Nick Zagaria, off shoring strategy amongst selected 100 corporations increased from 20% in 2005 to 50% in 2008. This shows that more corporations are outsourcing jobs than before, a trend that likely to increase, how does sending of jobs affect the overall American economy? More jobs sent abroad means less jobs being maintained or created for the average American workers. Shown by Dr. Paul Craig Roberts, in Globalization Creates Unemployment: American...
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...Globalization Tonya Waters Issues in Behavioral Science David Ouellette May 18, 2014 Globalization is the process of erasing national boundaries for economic purposes in order to create one global economy. This process is driven by free trade and the mobility of capital in order to trade goods, human labor, natural resources and investments. Globalization increases competition, creates jobs and increases economic growth. There is much debate however regarding the implications of globalization. While some welcome the integration as an opportunity to grow economically, others view globalization as the disintegration of their culture and values. India and Cambodia are examples of cultures affected both positively and negatively by globalization. Cambodia has been experiencing rapid economic growth, largely supported by increased tourism and the exportation of farm products. Globalization has brought improved healthcare, education, nutrition and raised the standard of living for the Cambodian people. Life expectancy has increased and infant mortality has declined substantially. However, Cambodia’s strong economic growth is not without cost. The jungles of Cambodia are being destroyed for the purposes of planting industrial size agriculture crops. "The government of Cambodia has full control over what companies are permitted access to various land and fishing concessions in Cambodia. Many of the concessions are given without regard to how they will impact people's...
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...and analyze how globalization and other factors have had an impact on them from a social, political, and economic perspective. During the late part of the 20th century, the International Monetary Fund and other organizations collaborated with countries that were struggling economically and offered financial assistance and the creation and implementation of policies. Globalization has had a significant impact on countries around the world; both positive and negative outcomes have resulted from various factors pertaining to globalization. Revolutions such as the Arab Spring uprisings have been influenced by aspects of globalization, such as the changing political sphere and the unstable economic market. Furthermore, the revolutions are more successful in contemporary times as opposed to fifty or one hundred years ago because globalization has provided the world with many comforts, such as the convenience individuals possess in the usage of technology—namely social networking websites. Therefore, it is important to analyze and examine the social, political, and economic changes that have been brought about by globalization, the changing global-politics, as well as social and economic issues that may have caused by or formed after military conflict. India and Vietnam are two countries that are quite similar in terms of GPD per capita rates, life expectancy, and other factors and are a perfect set of nations to examine and analyze in terms of the impact globalization has had on them...
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...Globalization: A Very Short Introduction by Manfred B. Steger is a book outlining the concept of globalization. Steger looks at the perception of globalization from an economical, political, cultural and ecological standpoint. By analyzing and reviewing Globalization: A Very Short Introduction, I will look on Steger's view of globalization focusing on the economical, political, cultural and ecological standpoint, which will explain both the causes and effects of globalization. What Exactly is Globalization? Steger introduces his book by first defining globalization. He explains that many scholars have a one sided view of globalization as oppose to viewing globalization as a whole, seeing that globalization is an uneven process (Steger, 11). He refers this to the parable of the blind scholars and the elephant, and explained how each scholar had very different descriptions of what an elephant is (11). In a similar way, there are different views on globalization. Steger defined globalization as the intensification of worldwide social relations which link distant localities in such a way that local happenings are shaped by events occurring many miles away and vice versa. (13) Is Globalization a New Phenomenon? This question was answered by looking at the four approaches to globalization (18-19). By doing this Steger comes up with an answer, which one is inclined to agree with. He stated, "globalization is an ancient process that, over many countries, has distinct qualitative...
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...OUTLINE OF CHAPTER 1: GLOBALIZATION Opening Case: Flat Panel Televisions and the Global Economy Introduction What is Globalization? The Globalization of Markets The Globalization of Production Country Focus: Outsourcing American Healthcare The Emergence of Global Institutions Drivers of Globalization Declining Trade and Investment Barriers The Role of Technological Change The Changing Demographics of the Global Economy The Changing World Output and World Trade Picture The Changing Foreign Direct Investment Picture The Changing Nature of the Multinational Enterprise The Changing World Order The Global Economy of the Twenty-First Century Country Focus: India’s Software Sector Management Focus: China’s Hisense-An Emerging Multinational The Globalization Debate Anti-globalization Protests, Globalization, Jobs, and Income Globalization, Labor Policies, and the Environment Globalization and National Sovereignty Globalization and the World’s Poor Country Focus: Protesting Globalization in France Managing in the Global Marketplace Chapter Summary Critical Thinking and Discussion Questions Closing Case: IKEA—The Global Retailer CLASSROOM DISCUSSION POINT Ask students to describe how international business has affected them in their day so far. Ash them about who made the clothes they’re wearing, what type of food they ate for breakfast or lunch (muesli cereal, sushi, Italian-style...
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...Essay on impact of Globalisation: Has Globalisation brought about more benefits or ills to countries around the world? Explain your answer. I think Globalisation has brought about more ills than benefits, even through it has brought about many benefits to countries around the world. However, there are countries that have benefitted from Globalisation and we will examine this from the economic, social and environmental aspects. Firstly, the economic aspect of globalization has brought about an improved standard of living for many people. As countries participate in trade and open their doors to investments, more money is earned and thus this revenue is channeled to the development of facilities such as healthcare, education and infrastructure that benefit the people and thus increase their standard of living. Moreover, Singapore’s pro-Globalisation policy has lead to an increase in the average household income from $4940 in 2000 to $5400 in 2005, and this has allowed the people to improve their lifestyles. Furthermore, with free trade, there is a greater variety of goods available to the people and they benefit from the wide range of choices available. (+ ve) Globalisation also creates competition among countries in terms of investments and markets as they compete for Transnational Corporations (TNCs) to invest in their countries. This leads to countries developing themselves to be more attractive towards the investors and thus boost infrastructure and economic development...
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...Running Head: Globalization Analysis of Globalization with Theoretical Approaches in Sociology [Name of student] [Name of institute] Analysis of Globalization with Theoretical Approaches in Sociology Globalization: Globalization is the process of trade between richer and low labor countries without limitation of boundaries and distance. After the Second World War countries with rich economies and strong social security system open their trade border for globalization, especially in last two decades. A study says, costly labor results in expensive social security. Some organization and firms tend to limit their work in high labor cost countries and divert their activities to those countries where labor cost is less and the social security system is weak. A risk factor of social security in such rich countries increase due to the forces of globalization. Rich countries offer imports from low labor countries and remain competitive by enforcing lower social security standards to the labor. These tricks develops a pressure to scale back the countries having higher social security system. Resultantly, competitive pressures arising from globalization is slowly destroying the social security. However, if the situation prevails, social achievements of industrialized countries could be destroyed and their ability to generate income would become unfavorable (1). Sociology The study of social relationship of human in any aspect of life that is family, friends, religion...
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...What impact, if any, does globalization of the economy has on labor relations in this industry? I chose health care as my industry of choice because it is my major so it is important to know more about current issues in this industry. With all the changes in Obamacare going on it is important to understand the importance of Unions among health care. "Factors driving that surge include the National Labor Relations Board likely approving new rules expediting union elections, and healthcare workers are feeling greater anxiety over wages and job security due to partly market and policy pressures to reduce healthcare costs." ( Joel Carson, 2014). Reducing health care costs will eventually reduce the money of independent organizations and it worries this business by the unionized labor. The globalization of the economy includes obamacare by affecting labor relations of all organizations related to healthcare, including pharmacies, hospitals, medical groups, and insurance companies. Union labor among healthcare ha many benefits , specially focusing in quality at lower costs. "Although union membership in the U.S. overall has steadily dropped since the 1980s, organized labor has found more success organizing in healthcare. Currently, about 14% of the workers involved in the delivery of healthcare at public and private facilities are unionized, compared with less than 7% of employees in the private sector as a whole." ( Joel Carlson, 2014) Private healthcare try to stay away from...
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