A blog posted on April 27th, 2013 by Smart Manufacturing, http://smartmanufacturing.com/2013/04/27/competitive/, poses the following question, as the economy becomes more global, how will the U.S. keep up with other nations? According to a Harvard Business School study, if the U.S. is going to stay competitive, manufacturing will play a big role. The study states that the manufacturing sector is “most likely to act to improve the nation’s competitive economic standing.” The full report can be found in the link at the beginning of this blog.
According to the report, “Respondents from manufacturing ﬁrms reported the largest number of actions that boost U.S. competitiveness: 86% engaged in internal training; 59% in regional initiatives; 40% offered apprenticeships; 47% reported community college or other external training partnerships; 54% sourced locally; and 45% engaged in supplier mentoring—the highest proportion for each action. Manufacturing was also near the top in participation in research collaboratives (63%) and showed the highest interest in re-shoring (29%).”
But what does this all mean? The report states the following, “These ﬁndings point to a reason to emphasize manufacturing in efforts to improve U.S. competitiveness that is not widely understood: manufacturers tend to take actions that benefit the wider commons.” Basically, we need manufacturing if the U.S. is going to stay competitive in the global economy.
Do you think that manufacturing is key for the success of the U.S. in the global economy? What industries have the most effect on the success of the U.S.?