Archive for August, 2012

Some effects of globalization

August 7, 2012

Well managed economies of countries that are rich in minerals and low-cost labor grow while even relatively well-managed economies lacking in these resources struggle.

The manual workers who add value to land and materials prosper in the countries with less developed economies while manual workers struggle to continue to prosper in developed countries.

Initially it is the service workers who add value to people, ideas and data who are more likely to prosper in the developed countries.

Consequently, we’ve seen the gap between rich and poor widen within the developed economies even if we see more equality globally between countries.

Better education, training and management systems enable more people to prosper from their work. The nature of the work will change for those who are prepared for the changes. Whatever the work, process-based management systems can enable work to add value faster and prevent loss sooner.

But as delivery distances become more costly and with the better management systems we can expect the return of more manual work career options so products are made in smarter ways and so they are made closer to customers.