Question

9. Discuss the pros and cons of the United States being mostly a service versus manufacturing oriented nation. Discuss your perspectives on millions of American having lived whole lives and have never worked in a manufacturing company.

Answer 1

Yes this is true that USA is a service oriented nation. There are many companies which provide service, mostly people are salary based.

Pros of working in Service Industry- There are highly skilled people in service companies and the job hours are fixed. There are more creative and motivated people in service industry. People get salaries on time and they get other benefits like pension, perks, gratuity, bonus, shares, family trip etc. In service companies, there are chances of promotions, creativity and skill enhancement.

Cons of working in service industry- At the time of economic crunch or crisis, employees are fired off from the service or they work without pay or partial pay.

Pros of working in manufacturing company- Companies have to pay less wages to the labor because of low labor cost. It is easier to value a manufacturing company as it has inventory, physical assets etc. Less skilled labor is required in manufacturing companies.

Cons of working in manufacturing company- Long hours working is there, sometimes without paying overtime. Sometimes labor strike happens and production is shut down for so many days, poor labor remain unpaid. Companies have to maintain heavy inventories of raw material. Sometimes there are poor public relations among the manufacturing companies and companies' revenue is affected by the demand and supply in the market.