Manufacturing Advances
In the past, the United States was a manufacturing-based economy. However, due to the rising costs of technology and the effects of globalization, most manufacturing went overseas, even though certain segments within the manufacturing industry have remained in the United States, such as high-end production that requires specialized capabilities. Though shifts in politics and international security may lead to more manufacturing happening within the United States in the future, international partners will always be necessary to provide components for production. Globalization is a critical matter for international businesses. Read this chapter and focus on the trends in global business over the past few decades. Are these trends going to continue, or could we see changes as nations start to become more isolationist in an attempt to protect jobs?
Key Takeaways
- Describe the impact of the anticipated worker shortage on U.S. business.
- How are today's educational trends affecting the future of manufacturing?
- What is business process management (BPM), and how do businesses use it to improve operations management?