Global Supply Chains & Manufacturing - Readings Flashcards
what recent developments have caused worries about globalisation to shoot back up
Brexit
US/China trade war
what does Krugman say about hyperglobalisation
one time event
most rapid changes are behind us
what does Krugman say the most disruption and change in regards to global supply chaining will come from in the future
attempt to reverse hyperglobalisation
eg. reshoring, raising tariffs
what behaviour has been increasing among luxury brands
acquiring suppliers
(SECURING THE SOURCES OF THEIR COMPETITIVE ADVANTAGE)
I.E. ensuring their supplier works with no other luxury brands, and ensuring consistency of quality
what sort of strategy is luxury brands acquiring their suppliers
long term
financial benefits only emerge after steep initial benefits
but creates bigger and less nimble companies
benefits of globalisation of supply chains
- lower costs for customers
- new business
- poor countries build industries and raise incomes
what is bad about government funding R&D
not linked to any one company
when innovation comes out, there is no clear place to bring the products to market
why is investment in employees valuable despite the fact that people job hop a lot these days
upskilling
people tend to stay in the same industry
investments in training will broader the knowledge of the industry community
what did Friedman say in 1970s was the responsibility of businesses
to increase its profits
led to a period where corporations favoured shareholder value and profits over other shareholdersne
negatives of shareholder value maxmisation
reduced R&D
increased offshoring => job displacement
slowing consumption due to less income
no investment in employees
no investment in customer support
companies increasingly disconnected from their employees
why is it a bad idea for companies to lay off people due to introduction of technology
technology aids what work is currently done
PEOPLE DRIVE INNOVATION AND COMPETITVENESS
are wall street winners or losers when it comes to the shareholder maximisation
winners
How has competition within global supply chains changed
shift from competing for goods and markets
to competing for labour and capital used in production
What is the issue with management education standardisation
e.g. MBA
homogenisation in education leads to similar responses to crises
how is America trade deficit incorrectly blamed on China
high tech production like the iPhone, despite being american innovations, exacerbate the trade deficit
statistics often attribute the entire export to the last country of assembly (China for iPhone) rather than considering value added by different countries in the production process e.g. (S. Korea, Taiwan for iPhone)
Misleading
