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Monday, March 18, 2013
Globalization and the Electronics Industry
Globalization and the
Electronics Industry
Since the
agricultural revolution, technological and industrial improvements have
influenced growth in our economy. Globalization has had a profound impact and
will increasingly be an important consideration for electronics companies. The
biggest challenge for leaders, business owners, and CEOs is to understand the
effect of globalization. Globalization influences the electronics industry in
several arenas including economic, political and employee relations. It is
paramount for electronics companies of today to have a corporate vision and
plan to use the effect of globalization to their benefit, those who do will
succeed, and those who don’t will inevitably fail.
Political Impact of Globalization
The World Trade Organization, United
Nations, GATT and NAFTA have all made it increasingly difficult for countries
to have a nationalistic approach. Separationist attitudes and insulation
mindsets are counterproductive to growth and gaining a competitive advantage.
The electronics industry has been a forerunner in developing international
requirements and procedures to make electronics components and services
available to countries throughout the world. No longer can there be a national
economic policy that ignores global pressure in the three major trade blocs
including the Americas, Europe and the Pacific Rim.
Economic Impact of Globalization
In the United
States although many manufacturing and production jobs have been lost to
overseas markets due to cheaper labor/manufacturing costs, many jobs have been
produced in the service sector to make up for the loss in manufacturing jobs.
In 1950, manufacturing jobs accounted for over 20 million workers in the U.S.
while over 28 million were in the service sector. After adding nearly 71 million
jobs by 1998, 27 million were manufacturing workers and 93 million were in the
service sector. So there isn’t a job shortage per se but a movement to the services
industry, what some may call a paradigm shift.
Business Culture Changes
Prior to the Industrial Revolution
an artisan could produce a few items a week, with industrialization in force
the increase per worker could be 10 or a hundredfold. The rise in productivity
brought on by technological and organizational changes started to decrease the
need for more employees’ overtime. Also the need for skilled laborers started
to go down with the advent of the assembly line and mechanical processes.
Labor relations and legal aspects are
also very important in this global economy. The increased use of the Internet, teleworking, and
conference calls have also made it important for companies to monitor the
performance of their workers whether they are in the office or at home. Some
companies are moving away from this laid back work environment while others are
continuing the effort; it all depends on the goals of the company.
Intellectual property as well as
specific company trade practices must be protected. Several companies have dealt with
leaks of information and disgruntled employees exploiting their access to the businesses
intellectual property. Policies must be in place to address how intellectual
property and company specific trade practices must be handled and the
consequences if the policies are not followed explained and recorded.
To maintain
the competitive edge, attract and retain talent and ensure longevity managers
in the electronics industry must address the issues detailed. Although there
are negative aspects of globalization businesses that make the correct
adjustments can thrive. Companies who learn how to make globalization work for
them will succeed the ones who don’t will fail.
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