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The Impact of Globalization to Manufacturing Field - Essay Example

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  This essay analyses globalization creates both opportunities and challenges for businesses. Our success depends on how successfully we adapt to this changing environment. Here the major question to answer is ‘how do we motivate our people to improve themselves continuously?'…
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The Impact of Globalization to Manufacturing Field
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The Impact of Globalization to Manufacturing Field

Download file to see previous pages... Here the goals of helping to think ‘achievable’ as ‘possible’ and ‘realistic’ as ‘probable’. Working through the realistic criteria identifies the tension between the current state and desired state. Moreover, the organizations which aim for the globalization of manufacturing should have an aggressive expansion strategy and wants to fund this expansion debt free by freeing up capital tied up in other assets. The definition of globalization itself manifests its impact on the manufacturing logistics. To most economists,’ globalization’ means the closer integration of economies via trade and factor flows. But this permits many interpretations of how this can be measured. Economic geographers define the globalization as the shifts in the location of economic activity subsequent to shrinking economic distance. On the other hand, the critics take the view on globalization to be synonymous with capitalism, big business, and multinational corporations. (Crafts and Venables (2001, p. 2)(3) 2. Crafts, N. and Venables, A. J. (2001) ‘Globalization in history: a Geographical perspective’, London School of Economics, paper prepared for the NBER conference on ‘Globalization in economic perspective’. interactions in each economy between the external facets of globalization like e.g. shrinking economic distance, greater trade or the spread of international production that apply to the economy and internal factors that affect its employment response. The major impact of globalization as follows. 1. Globalization causes to manufacturing companies the converging of product prices between exporting and importing countries, a good indirect measure of economic distance between economies.   ...Download file to see next pagesRead More
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