Abstract
Since the early ‘80s, the global economy has radically changed companies, manufacturing system and products. Global managerial economics demands ramified, far-flung and strongly interconnected organisations (networks). These complex structures favour knowledge management skills, competitive alliances and outsourcing agreements (with co-makers and external partners). Market-space competition also emphasises global economies of scale, whose value does not depend on the level of exploitation of elementary manufacturing factors but on the ‘intensity of sharing’ of specific resources in a networking system. In highly competitive markets, therefore, lasting corporate development does not depend primarily on the volumes of individual products (easily imitated in their tangible characteristics). In fact, corporate success on global markets is conditioned more by the level of sophistication of the intangible assets, developed, maintained and even modified, with targeted spending and investment plans.
Highlights
Corporate success on global markets is conditioned more by the level of sophistication of the intangible assets, developed, maintained and even modified, with targeted spending and investment plans
In today’s highly competitive global markets, companies compete in conditions of extreme economic, technological and socio-political instability
□ The Toyota Production System envisages the elimination of all waste from manufacturing processes, through the following stages: 1. identification of the value for the customer; 2. development of the process of value creation; 3. generation of the value flow; 4. customer participation in the ‘definition’ of the value flow; 5. development of the process of continuous improvement of the supply chain
Summary
In today’s highly competitive global markets, companies compete in conditions of extreme economic, technological and socio-political instability. Market-space competition emphasises global economies of scale, whose value does not depend on the level of exploitation of elementary manufacturing factors but on the ‘intensity of sharing’ of specific resources in a networking system. Corporate success on global markets is conditioned more by the level of sophistication of the intangible assets, developed, maintained and even modified, with targeted spending and investment plans.
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