Final answer:
The 1990s in the corporate world were characterized by globalization, leading to practices like outsourcing and offshoring, technological advancements, and significant corporate scandals, which reshaped business operations and public perception.
Step-by-step explanation:
In the 1990s, the corporate world underwent significant changes due to globalization and advancements in technology. Corporations took notice of cost-saving strategies like outsourcing and offshoring, largely influenced by the penetration of global markets and the establishment of trade agreements like NAFTA. These practices enabled companies in developed countries to reduce expenses by relocating operations to countries with lower labor costs. As a result, many manufacturing jobs were lost domestically, and concerns over job losses became pronounced.
The decade also saw its share of corporate scandals. Notably, companies such as Enron and WorldCom were involved in massive accounting frauds, which led to increased scrutiny of corporate practices. The repercussions of these scandals were felt across the financial markets and initiated calls for more stringent regulations and oversight.
This period was marked by both economic prosperity, due to technological development, and economic challenges, as seen through the lens of corporate behaviors and their broader societal impact. The events that unfolded shaped the way organizations conducted business and how they were perceived by the public, ushering in a cautious approach to corporate ethics that resonated into the new millennium.