Challenge: Expanding U.S. Exports, Reducing the Trade Deficit, Increasing Market Access and Responding to Foreign Governments Protecting Domestic Producers Solution: Create fair and open global markets for U.S. goods and services to reduce the trade deficit and increase exports as a percentage of GDP 3. Categories: Global Competitiveness, Education and Workforce, There is ongoing interest in the pace of U.S. technological advancement due to its influence on U.S. economic growth, productivity, and international competitiveness. These terms are often used almost interchangeably and with little precise meaning. Categories: Innovation, Current State of Manufacturing, Best Practices, This report offers a comprehensive analysis of the metropolitan geography of U.S. manufacturing. Categories: Capital and Cost, Global Competitiveness, Federal and Industry Collaboration, Education and Workforce, Regulatory and Policy Recommendations, Productivity, While R&D funding isn't the sole indicator of how a nation, region or industry will perform, it certainly is a fundamental consideration among other factors like science, technology, engineering and mathematics education levels, capital markets, healthcare, infrastructure, property rights and immigration policy. This combination of digitized distribution, digitized production, and new manufacturing platforms—aka the “Internet of Goods”—will allow the creation of new business models for manufacturing capable of expanding the market and changing the geography of production. Categories: Innovation, Federal and Industry Collaboration, Regulatory and Policy Recommendations, In response to the foreign challenge in the global marketplace, the United States Congress has explored ways to stimulate technological advancement in the private sector. Just to roll off some recent examples, we could mention Startup Nation, Startup Diaspora or Invest Romania. China, India, Russia, much of Central Europe, and other parts of the world are competing successfully for what were once stable, well-paying U.S. jobs. [3] http://www.businessinsider.com/exclusive-jpmorgan-employee-note-confirms-aggressiveinvestment-in-block-chain-technology-and-robotics-2015-12. Economic dynamism; 4. Those countries that have acquired a top score at this level have developed economies and a high GDP per capita. Manufacturing Universities' - January 2013, Industrial Competitiveness and Technological Advancement: Debate Over Government Policy - December 2012, Cooperative R&D: Federal Efforts to Promote Industrial Competitiveness - December 2012, Technology Transfer: Use of Federally Funded - December 2012, 2013 Global Manufacturing Competitiveness Index - November 2012, Leadership Wanted U.S. Public Opinions on Manufacturing - October 2012, Report to the President on Capturing Domestic Competitive Advantage in Advanced Manufacturing - July 2012, Global Manufacturing Outlook: Fostering Growth through Innovation - June 2012, Manufacturing and Logistics 2012 National Report - June 2012, International Benchmarking of Countries' Policies and Programs Supporting SME Manufacturers - June 2012, Interactive Manufacturing Locator - May 2012, The Future of Manufacturing: Opportunities to Drive Economic Growth - April 2012, Greater Portland Export Plan: Metro Export Initiative - March 2012, Emerging Global Trends in Advanced Manufacturing - March 2012, Make An American Manufacturing Movement - December 2011, Made in America Again, Why Manufacturing Will Return to the U.S. - August 2011, Growth Through Innovation: Building a Long-Term Strategy for Growth through Innovation - May 2011. A new chapter – the role of Competitive Intelligence. Categories: Innovation, Global Competitiveness, Education and Workforce. Today, the challenge is even greater as America competes against a wide array of nations seeking to win the race for global innovation advantage, especially in advanced manufacturing. At issue is whether incentives for technology transfer remain necessary, if additional legislative initiatives are needed to encourage increased technology transfer, or if the responsibility to use the available resources now rests with the private sector. Global competitiveness challenges Presentation V Co-operative Summit of the Americas Buenos Aires, Argentina. Discussing competitiveness is both a challenge and an act of courage. Three trends could lead to a manufacturing sector that uses information technology to boost productivity and create new markets. Old small firms, with less than 50 employees and more than 10 years old, are significantly more likely to be persistently digitally non-active. Challenges of HRM: Faced Over the Decades, by HR Professionals, Organisations and Retail Industry Challenges of HRM – 9 Emerging Challenges Faced by HR Professionals: Managing Workforce Diversity, Meeting Aspirations of Employees, Empowerment and a Few Others. Analyses performed at that time concluded that the slow, unfavorable development of specific elements influencing competitiveness were causing major discrepancies in comparison with other EU Member States. Categories:  Innovation, Global Competitiveness, Education and Workforce, This report reaffirms the importance of rebuilding a globally competitive, innovation-based advanced manufacturing sector in the United States. These new technologies are already having an impact, with the growth rate in manufacturing entrepreneurship at its fastest pace in over 20 years. The report examines the highly complex forces driving the future of manufacturing and many of the structural changes reshaping the global economy. Categories: Current State of Manufacturing, Innovation, Global Competitiveness, Federal and Industry Collaboration, The State New Economy Index uses 25 indicators to measure the extent to which state economies are knowledge-based, globalized, entrepreneurial, IT-driven, and innovation-oriented. https://www.nist.gov/mep/global-competitiveness, May 2019 The global competitiveness is enhanced mostly by the government of a particular country. This research report details the leadership priorities and investments that U.S. manufacturers are making in new systems, equipment and people to remain globally competitive through 2020 and beyond. The position of the World Economic Forum’s representatives is that competitive economies are the most likely to support a sustainable and inclusive development, meaning that all members of society will benefit from the economic growth. The results focus on four empirical investigations pointing to the growing strength of US manufacturing, and, in many cases, refuting or updating previous claims. Hit save and the PDF downloads directly to where ever your download folder resides. The first section of the report focuses on the importance of U.S. manufacturing in relation to economic growth, employment, the environment, and trade/investment. Official websites use .gov Categories: Innovation, Global Competitiveness, Education and Workforce, China will likely be the biggest business disruptor of the 2020s, but the discussion about how to respond has yet to take shape. There are … Starting from these, five imperative actions emerge for the business environment: taking into account and planning for the volatility of the system, elaborating a “radar”, continuous striving for leadership/technological supremacy, constant preparation for the genuine globalization, developing a thirst for knowledge, rooted in the experimental and the adaptable. An important characteristic of competitive countries is leadership, a promising example of which is Mongolia, which recently discovered the largest copper reserves in the world. Categories: Current State of Manufacturing, Innovation, Global Competitiveness, Education and Workforce, This paper examines the nature and prospects of robotics and associated production technologies, reviews the literature on their impact on spatial dynamics, reviews recent data on robotic adoption, including controlling for robot adoption rates by domestic worker compensation rates, and speculates on future trends in the spatial distribution of manufacturing. There are many important projections and key findings for each country and industry under discussion. Tackling such a challenge was a consequence of the subtitle of the Sectorial Operational Programme “Increasing Economic Competitiveness”, namely “Investing in your future” (structural instruments 2007-2013). ) or https:// means you've safely connected to the .gov website. Categories: Current State of Manufacturing, Innovation, Global Competitiveness, Federal & Industry Collaboration, Education and Workforce, Regulatory and Policy Recommendations, This report offers observations and recommendations on how to increase small and mid-size manufacturers (SMMs) SMMs' contribution to manufacturing exports; and answers questions related to: the importance of exporting to SMMs with the greatest export growth potential, types of assistance exporters need, the importance of innovation and supply chain for growing exports, and export assistance in a a limited funding environment. Some of the main findings: 1)Metropolitan areas, especially large metropolitan areas and central metropolitan counties, contain the great majority of manufacturing jobs and nearly all very high technology manufacturing jobs, reflecting the advantages they provide to manufacturing in general and very high-technology manufacturing in particular. Intelligent companies succeed in creating their future. Tomorrow’s business models have to respond to a rapidly changing market. As such, competitiveness becomes global when it affects large parts of the world. Moving forward, exports will continue to make important contributions to the U.S. economy and the NEI/NEXT is structured to do more to help U.S. manufacturers, farmers, workers and innovators sell Made-in-America products and services world-wide to the benefit of our economy. Current federal efforts to promote technology transfer is also examined, as well as a look at the small business technology transfer program and patenting. In the face of such an all-embracing change, the need to develop a rigorous understanding of the emerging stimuli of change and the preparation of potential future scenarios (contingency planning and prospective studies) becomes more and more evident, both in the academia and the business environment. What started with call centers is spreading to encompass everything fro… This environment forces companies, regardless of location or primary market base, to consider the rest of the world in their competitive strategy analysis. Key Takeaways Key Points. Conflict and Poverty. Access to sea routes remains an advantage. the aforementioned analysis of Citigroup or the investment made by J.P. Morgan in the new blockchain technology[3]) managed to develop capabilities/capacities for scanning the horizon and identifying the key factors and forces shaping the future. The 4 Signs of Strength: manufacturing output growth, U.S. Manufacturing competitive performance relative to other sectors of the U.S. economy, U.S. Manufacturing productivity growth relative to other countries, and new evidence of outward expansion by U.S. MNCS and economic activity by those same firms at home. The key challenges and solutions outlined in Make: An American Manufacturing Movement appear below: 1. The report claims that “this is understandable: more than half of the world's population lives in cities, generating more than 80% of global GDP". Perhaps the most visible component of China’s global competitiveness is the size of its economy. SME Overview ; The Role of Express Integrators in the Global Economy ; Benefits Specific to SMEs ; Key Industry Challenges; 3 SMEs A Prominent Sector of the Economy. Because technology can contribute to economic growth and productivity increases, congressional attention has focused on how to augment private-sector technological development. This will require action by the public sector—to provide tax credits for innovation and more forward-thinking trade policies, for example—and the private sector, including businesses, universities and private research firms that reward education and job skills. The PDF file is not e-mailed. The U.S. economy of 2014 is different, not just larger, than the economy of 2013. Nonetheless, approaching a new perspective in this matter literally means walking into the lion’s den. Categories: Federal and Industry Collaboration, Global Competitiveness, Regulatory and Policy Recommendations, "This Policy Brief examines data that are more recent and more detailed than data previously used to refute the claims of US manufacturing weakness and present new evidence of its strength and breadth. A .gov website belongs to an official government organization in the United States. [2] Also, the dimensions of urban spaces do not constitute a constraint on competitiveness. Governments should be more responsive, reducing bureaucratic red tape. However, no more than 40 percent of executives at companies headquartered in developed economies expect a quarter or more of revenues over the … However, companies are not consistently aware of the emerging technologies. [4] to project the software, a computer etc., in order for the latter to be used in the future regardless of what technological changes may take place http://dictionary.cambridge.org/dictionary/english/future-proof however to consult also the point of view available at https://www.techopedia.com/definition/2204/future-proof. Understanding which trends in manufacturing reflect factors that may be unique to the United States and which are related to broader changes in technology or consumer preferences may be helpful in formulating policies intended to aid firms or workers engaged in manufacturing activity. This was one of the key findings outlined in Canada’s competitiveness scorecard. This book provides an overview of evolutionary economic thought, explains the three dominant drivers of U.S. economic evolution and lays out eight key principles to guide evolutionary-based economic policy making. Myron Brilliant, Executive Vice President and Head of International Affairs, U.S. Chamber of Commerce. Categories: Current State of Manufacturing, Innovation, Global Competitiveness, Federal and Industry Collaboration, Supply Chain, The 2012 State New Economy Index builds on prior State New Economy Indexes published in 1999, 2002, 2007, 2008 and 2010. Categories: Current State of Manufacturing, Innovation, Capital and Cost, Global Competitiveness, Education and Workforce, Productivity, The State New Economy Index uses 25 indicators to measure the extent to which state economies are knowledge-based, globalized, entrepreneurial, IT-driven, and innovation-oriented. The main themes currently debated in prospective analyses are those related to changes with impact on wealth and power, extreme economic uncertainty and transition policies in many countries. The recommendations include a call to establish a national network of manufacturing innovation institutes; an emphasis on investment in community college training of the advanced manufacturing workforce; an approach to evaluate platform manufacturing technologies for collaborative investment; a plan to reinvigorate the image of manufacturing in America; and proposals for trade, tax, regulatory, and energy policies that would level the global playing field for domestic manufacturers. cheap work force), but as a building process for an economic structure based on capital investment and research, development and innovation”. The latter allow them to “acclimatize” themselves to emerging “shocks” and capitalize on new opportunities. The emergence of the digital economy and the global spread of broadband capacity have opened a host of service occupations to international competition. Categories: Innovation, Global Competitiveness, Productivity, Over the last decade, the United States lost about one-third of its manufacturing jobs, raising concerns about U.S. manufacturing competitiveness. Categories: Current State of Manufacturing, Innovation, Global Competitiveness, The IU Manufacturing Policy Initiative, in partnership with the Hudson Institute, organized a spring 2020 conference, to bring together leading thinkers to identify concerning trends and discuss policies that will enable domestic manufacturing to remain internationally competitive. Categories: Regulatory and Policy Recommendations. We invite leaders to join us to co-shape new solutions to the challenges highlighted in this report, working together with the This report focuses on an emerging alternative digital future for manufacturing, the “Internet of Goods." The SOP IEC 2007-2013 report mentioned that “rising competitiveness cannot be perceived/seen as the exploitation of short-term advantages (e.g. This paper examines the government's various efforts to promote cooperative research and development activities among industry, universities, and the federal R&D establishment designed to increase the competitiveness of American industry and to encourage the generation of new products, processes, and services. Categories: Current State of Manufacturing, Global Competitiveness, Federal and Industry Collaboration, Education and Workforce, Smart manufacturing depends critically on information governance: rules (formal and informal) concerning the collection, flow, and analysis of information, often in digital form. Ninety percent of exports and export growth come from the top 10 exporting industries in the region including: manufacturing (computer and electronics, primary metals, machinery, and transportation), royalties, professional services, and travel and tourism. Such an analysis must embark upon the following steps – defining and evaluating key factors triggering the change; identifying critical effects and subsequent implications for both the economy and the business environment; prioritizing imperative actions or related to assumed policies in order to respond to such factors of change and their impact; and projecting alternative scenarios, prospective/future-oriented, based on the possible way of responding to those imperatives. The following key conclusions emerge regarding state policy and advanced manufacturing: States play a central role in promoting economic development and industrialization; This is a new era of industrial development for the SGA states; State policy in support of the advanced manufacturing sector must be carefully coordinated with other public and private entities that seek to promote economic development in order to maximize returns for state residents and the business community; A strategy for fostering the growth of advanced manufacturing should be based on carefully developed strategic plans that build on SWOT assessments of state assets and needs and include quantifiable goals and objectives. Challenges and Opportunities in U.S.-China Relationship. Larry Llamzon Country Manager; 2 Todays Agenda. The report is in support of a major joint research efforts undertaken by MEP and the U.S.Commercial Service. Since 1979, when Klaus Schwab published the first edition, the series has been providing policy-makers and other stakeholders around the world with an annual assessment of the drivers of long-term growth. Global competitiveness. Romania ranked the lowest: Despite all of these hindrances, Romania still displays a native “future-proofness”, which can endow it with an advantage on the global arena of competitiveness. Future-proof[4] or the ability to positively answer to changes. In the 2015-2016 report, Romania ranked 53rd out of 140 states, the most problematic factors undermining business dealings being: the tax rates, the inefficient governmental bureaucracy, the access to funding, the inadequate infrastructure and corruption. With the world's largest consumer market, skilled and productive workers, a highly innovative environment, appropriate legal protections, a predictable regulatory environment, and a growing energy sector, the United States offers an attractive investment climate for firms across the globe. Every day, foreign companies establish new operations in the United States or provide additional capital to established businesses. Some are not yet ready for application at scale. Basically, rising competitiveness means rising prosperity. o What are future scenarios across advanced manufacturing sectors in the technology areas of semiconductors, advanced materials, additive manufacturing, and synthetic biology? These industries encompass the nation's "tech" sector at its broadest and most consequential. Most of these digital technologies have been brewing for some time. Given the increased popularity of cooperative programs, the paper looks at questions that might be raised as to whether the programs are meeting expectations. This report includes the papers and the discussions from the event. Categories: Innovation, Global Competitiveness, Education and Workforce, Regulatory and Policy Recommendations, Sustainability, This report offers observations and recommendations on how to increase small and mid-size manufacturers (SMMs) SMMs' contribution to manufacturing exports; and answers questions related to: the importance of exporting to SMMs with the greatest export growth potential, types of assistance exporters need, the importance of innovation and supply chain for growing exports, and export assistance in a a limited funding environment. Categories: Current State of Manufacturing, Global Competitiveness, Education and Workforce, Supply Chain, This report explains how digitalization is transforming manufacturing globally, detailing what exactly smart manufacturing (or “Industry 4.0”) is and examining the productivity impacts that digitalized manufacturing promises to deliver. When you hit submit, you'll have a choice of "opening" or "saving" the file. “The number of people living in the world's cities is growing by nearly 60 million every year”. Because of the lack of consensus on the scope and direction of a national policy, Congress has taken an incremental approach aimed at creating new mechanisms to facilitate technological advancement in particular areas and making changes and improvements as necessary. Categories: Current State of Manufacturing, Innovation, Global Competitiveness, Education and Workforce, The 2019 Manufacturing and Logistics National Report shows how each state ranks among its peers in several areas of the economy that underlie the success of manufacturing and logistics. To remedy the situation, this policy memo defines these terms and explains how each is important in driving economic prosperity. At the same time, the world of business is driven to adjustment by a combination of market volatility, globalization and transformation brought on by innovation. In order to achieve this vision, new data value chains are needed. In order to stay competitive in the global market, companies need to find the highest skilled workers, breathe innovation and become more efficient in energy, production and logistics. The development of a “prospective radar” of the business environment is required. 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