For years now, companies have rushed to find cheap labor and increased profits in foreign lands. The move was a play to make bottom-lines blacker, company coffers deeper and corporations safer. The thinking was that global corporations would be more secure and more profitable if their operations were spread amongst many economies rather than anchored to one. But given the domino failures in economies worldwide, has offshore outsourcing helped or harmed enterprises in the final count?
"Globalization created so many hyper-competitive markets that many imploded," says Dan Brown, adjunct professor in the Segal Design Institute, McCormick School of Engineering and Design at Northwestern University. He is also founder and president of Loggerhead Tools. "The continuous drive to lower prices is harmful to the company and the market."
