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Global Competitiveness: the works on the world industry and economy in a global perspective - Essay Example

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[Insert Subject, Case] EXECUTIVE MBA FINAL EXAM [Insert Name] Texas A&M University-Commerce In partial fulfillment of the requirements for [Insert Subject] [Name of Professor] Table of Contents Abstract…………………………………………………………………………………………
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Global Competitiveness: the works on the world industry and economy in a global perspective
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Download file to see previous pages ??………………………….20 Abstract In the course of the Executive MBA, and in this subject of Global Competitiveness, it is of utmost importance that as students of the subject, one has an in depth working knowledge on the works on the world industry and economy. In order to make sound decisions in a global perspective, it is therefore an imperative that a person has a good grasp on the challenges and obstacles that can and will be faced in globalization. With many companies gearing for global competitiveness, a working understanding on critical decisions such as outsourcing of business aspects is necessary. Yes, risks are part of business, but it should be educated and calculated so as to avoid grave consequences. While there are many advantages in the international arena, there are also as many pitfalls for the unwary and unprepared. One must carefully weigh all the options and evaluate all the current plans in order to position the company for better competitiveness. It is also important that employees are also in the same page as the management in order to ease the transition and stability of the company. therefore, a strong and decisive leadership is required for this to come into fruition. How to handle difficult employees is also very critical for success, for it is in the right blend of these different employees that the company can develop unique business advantages that will have a more strategic impact on its operations. EXECUTIVE MBA FINAL EXAM 1. What are the key issues for consideration before sourcing production abroad? Provide explanation for each key issue. In the advent of globalization and modern trade, outsourcing other operational aspects to other countries has been common practice. Every country has its unique advantages in the field of global trade, and every company seeks to optimize its business potentials by driving their costs to a minimum while also acquiring value-adding activities which will then ultimately increase their profit margins. Thus, it is not surprising that countless of companies are trying to take advantage of what companies in other countries can offer in premium. Appendix A shows the current status of the industrial outsourcing. Aside from financial services, it is not surprising that manufacturing firms lead in Global Revenues in terms of outsourcing in the industry. It should thus be noted that in the manufacturing industry, per unit price of their production operation are a variable relative to many factors like resource availability, labor, proximity of supply chains, and the like (Washburn & Huang, 2008). But through outsourcing, one must first evaluate whether expanding and extending the company’s operations outside the scope of its national area should really prove to be highly beneficial. Shoring off and being dependent to another country for an aspect of their operations could be very crippling, and even fatal, for a company in its entirety. Therefore, one must delve into a deeper understanding of the risks and the factors involved ...Download file to see next pagesRead More
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