Adjusting to a strong $: lessons from the European experience

Article Abstract:

The strength of the US dollar is adversely affecting American manufacturers' ability to compete with foreign imports on U.S. domestic markets and minimizing their price competitiveness on foreign markets. It is suggested that U.S. companies review European companies' responses to similar competitive disadvantages in the past. European response to market penetration has historically focused on labor cost reductions through automation, and corporate reorganizations that moved manufacturing facilities to foreign countries with cheaper labor forces. Another way in which European manufacturers have remained competitive is through product differentiation and market segmentation. The economic and competitive consequences of these and other responses to international competition are discussed.

Research, United States, Europe, Economic aspects, International aspects, Monetary policy, International competition (Commerce), International competition (Economics), International trade regulation, Business economics, Managerial economics, Free trade, Import quotas

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Advanced manufacturing systems and organizational choice: sociotechnical system approach

Article Abstract:

A major cause of the slow adoption of advanced manufacturing technologies by U.S. industry, and the disappointing performance gains from such technologies, is the failure to adapt organizations and work practices to the new technologies. This article proposes "sociotechnical systems" as a framework for examining the organizational implications of new manufacturing systems, and as a tool for guiding the change process. The sociotechnical systems approach suggests that different new manufacturing technologies have different implications for work design and organizational structure and systems which are likely to necessitate a realignment of the entire organization. Also different technologies are suited to different external environments. (Reprinted by permission of the publisher.)

Social aspects, Management, Innovations, Manufacturing processes, Manufacturing, Technological innovations, Organizational change, Industrial organization

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The resource-based theory of competitive advantage: implications for strategy formulation

Article Abstract:

Recent contributions to strategic management and the theory of the firm collectively known as the "resource-based view of the firm" provide illuminating insights into the sources of profitability and the nature of competitive strategy. This article argues that internal resources rather than the market environment should provide the foundation for a firm's strategy. On the basis of an analysis of the relationships among resources, capabilities, competitive advantage, and profitability, this article advances a framework for a resource-based approach to strategy formulation. (Reprinted by permission of the publisher.)

Methods, Planning, Competition (Economics), Marketing, Strategic planning (Business)

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