Chapter 15, Problem 1RQ

Summary Introduction

To determine: The impact of global competition on the domestic manufacturing environment.

Introduction: Accounting Information System (AIS) is said to be the specialized subsystem of the Information System (IS). AIS can be used in the business events for the purpose of collecting, processing, and reporting the financial information.

Explanation of Solution

Determine the impact of global competition on the domestic manufacturing environment:

The wages of the citizens and the domestic wealth of the country can be increased with the business of the country especially with the manufacturing sector. The global competition might decrease the market share of the firm and it might increase the innovation of the firm. The firm will be in the position to innovate things in the market where they have competition globally.

Global competition will encourage the domestic companies to be efficient and customer-focused.

Technology helps the firm to make a better decision regarding the process or product. It helps to reduce the cost and increase the quality of the product or process. In addition to this, technology helps the firm to manage and control the process data.