Word: labors
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Dates: during 2000-2009
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...globalization that we intuitively know - call centers in India, toy factories in China - is just one piece of an increasingly competitive landscape. As manual work becomes more automated and trade barriers fall, companies chase knowledge workers and efficiency just as much as they do cheap labor and access to new markets. In this new calculus, it is often surprising who comes out ahead. According to the Business Competitive Index, the Global Competitive Index's sibling measure developed by Harvard economist Michael Porter, the countries with the lowest wages relative to competitiveness - that is, the best values as investment locations...
...Tuhendhat's firm suggested harnessing the nation's long tradition of metal working and pushing into the machining and automotive parts sectors in order to take advantage of the growing auto industry in neighboring Slovakia and Romania - two countries that have become a hot spot because of their inexpensive labor and access to the markets of the European Union...
...with transportation costs continuing to plummet and markets becoming freer, there are many more places for companies to set up shop, and traditional advantages such as cheap labor or a lack of tariffs mean less and less in many industries. Multinationals are increasingly opening major operations in second- and third-tier cities - GlaxoSmithKline in Posnan, Poland, Google in Belo Horizonte, Brazil - places that plenty of people have never even heard of. "Companies are adopting an all-shore strategy," says Dennis Donovan, principal of Wadley Donovan Gutshaw Consulting, which helps companies decide where to locate...
...with making memory cards. "By having it all in close proximity, it reduces overhead costs," says Sandisk president and COO Sanjay Mehrotra, "and that's the name of the game, to be able to produce product at the lowest possible cost." (Notice that had nothing to do with cheap labor...
...workforce. "If we're hearing a mantra today, it's workforce - finding the qualified people," says Rob DeRocker, executive vice president of Development Counsellors International, a firm that helps regions position themselves. The global chase for talent is just as true for manufacturing workers - you have to find skilled labor if all your machines are computer-controlled - as it is for PhD scientists...