Re: Forecast says double-dip recession is imminent
I was waiting for someone to pick up this comment. In fact we should start a thread to discuss innovation although I am not sure which is the right forum to start the discussion on this topic.. could be philosophy.
Manufacturing is the execution arm of innovation. There are many brilliant people in the world with brilliant ideas but fail to execute these ideas due to lack of means. Manufacturing base give the ideas the tools for execution.
When I say manufacturing results in innovation, I have in mind a very long term prospective. Remember these Japanese companies like National, Hitachi, Sony etc started as copy companies for electronic appliances. Eventually they became the leaders of innovation in their sector.
However manufacturing base is not the only thing which initiates innovation. Cultural back ground, educational infra structure, historical back ground, communities, and many other factors also play a role in initiating the innovation.
In present times the dynamics have changed. Today the companies hire globally to pick the the cultural/educational strengths. It’s not a coincidence that Italians have an eye for fashion details. it’s in their blood due to thousands of years of cultural back ground. Businesses/companies recognize this factor and hire globally. In fact they buy innovation from where ever they can get it.
If you are interested to discuss this topic in detail we should open a thread on the topic and try to discuss this in detail. We need some more participants to give their input.
I agree with your statement that " innovation does not come only with manufacturing" but consider the present time dynamics of international businesses.. where cultural/regional strengths are exploited by manufacturing sector by hiring globally because they have the means to do it..