Modern Industry Characteristics and Global Offshoring
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...