Modern Industry Characteristics and Global Offshoring
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Characteristics of Modern Industry
From the decade of 1970, after the oil crisis, a new model of industrial production was born: the post-Fordist model. This model is based on:
- The development of new technologies and new industries: information technology, biotechnology, telecommunications, microelectronics, etc.
- The satisfaction of the individual tastes of each consumer: Many different models of each product are produced to cover different tastes and needs.
- A system of flexible production: automated and highly specialized.
- The incorporation of emerging countries into industrial development.
Globalization and Multinationals
The globalization of the economy is the context in which current industrial activity is developed. Globalization has boosted... Continue reading "Modern Industry Characteristics and Global Offshoring" »