Capital, Technology, and Labor in the New Global Economy

By James H. Cassing; Steven L. Husted | Go to book overview

and Europe to act as account managers for the new overseas branches of such major Japanese customers. A Fuji Xerox representative meets with the company officials when they first start operations overseas, fills their equipment needs, explains market and product differences in the local market, and makes certain that the customer is satisfied with his after-sale service. The results thus far have been excellent.

This description of how Xerox and Fuji Xerox attempt to use the entire value-added chain to optimize geographic market participation has been presented to explain why the globalization of business does not permit the neglect of local needs and preferences. Xerox and Fuji Xerox have commonality and economies of scale as strategic goals. Yet in reality they are forced to consider many geographic factors that modify those goals. Geographical needs are increasingly important, and they more than justify the incremental costs that they impose. A continued effort for commonality will be made. Equally important, however, Xerox will be even more cognizant of the marketing opportunities inherent in identifying and serving the needs and preferences of local markets.


Conclusion

The trend to globalization is no doubt a major force behind many changes occurring in business today internationally. Numerous interactions or interdependencies among economies or disciplines on a global scale, as well as explosive progress in information, travel, and telecommunications, will make such interactions and interdependence highly sensitive and often vulnerable to changes of all sorts. They will invariably force decision makers to take a global perspective.

Yet a very important as well as sobering fact remains: human resources will continue to be the most important aspect of all economic activities. People will constitute the cardinal element in shaping the quality of information at both the sending and the receiving ends and will influence the way in which value perceptions change. They cannot become truly global, as other resources can, especially where transportability is required.

The forces of change and adjustment in the world's trade and financial arena, the protectionist movements in most major industrial regions, and the patriotic infant-economy strategies adopted by developing countries are bound to make political forces the key players in the world's economic adjustments until a new multilateral trade and financial system is installed.

Given that politicians are by nature domestically oriented and

-134-

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Capital, Technology, and Labor in the New Global Economy
Table of contents

Table of contents

  • Title Page iii
  • Contents v
  • Acknowledgments xi
  • Foreword xiii
  • Introduction xvii
  • Part One The Ongoing Revolution in American Banking 1
  • The Ongoing Revolution in American Banking 3
  • Appendix 51
  • Steven L. Husted 91
  • James H. Cassing 93
  • Burns's Reply to Comments by Husted 97
  • Part Two Technological Change and Its International Diffusion 101
  • The Relationship of Science to Technology 103
  • Notes 113
  • Nam Pyo Suh 114
  • William E. Souder 117
  • William E. Souder 119
  • Branscomb's Response to Discussants 120
  • Part Three Changes in International Marketing Techniques 125
  • On the Trend to Globalization 127
  • Conclusion 134
  • C. Whan Park 136
  • Toni Carbo Bearman 138
  • Kobayashi's Response to Park 142
  • Part Four Global Interdependence and International Migration 147
  • Global Interdependence and International Migration 149
  • Notes 179
  • John T. Dunlop 184
  • Notes 187
  • Joseph Eaton 187
  • Note 191
  • Discussion 192
  • Index 197
  • A Note on the Book 207
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