World 's Most Fastest Growing Economy With Top Exporting Companies And Huge Amount Of Foreign Investments

1673 Words7 Pages
ASSIGNMENT 3
LEARNING JOURNAL

CULTURE AND ETHICS IN BUSINESS

SANTHEESH
STUDENT ID 17951865

Introduction

China is world 's most fastest growing economy with top exporting companies and huge amount of foreign investments. Global financial crisis happened during 2009 due to collapse of international market hit china hard initially but its economy was the first one to rebound and return to growth. Now in 2014 country 's Purchasing Managers Index survey suggests that manufacturing growth is slow. The country 's Purchasing Managers Index (PMI) fell to a lower-than-expected 50.8, from 51.1. Any score above 50 represents growth. This will create huge pressure to provide jobs for increasing
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Manufactures must understand the obstacles and challenges they face, understand their jobs to fit into larger organizational objectives (Kazmer 2014). Global challenges for the managers is to understand the process of suppliers and getting their feedback. Motivating them to exploit new manufacturing technologies and establishing close relation in work (Olausson, Magnusson and Lakemond 2009). One of the main global challenge for the manufactures is the two available outsourcing strategies. Advantages can be gained with respect to cost when domestic outsourcing option remain competitive across the globe. Understanding the challenges in domestic versus international outsourcing options and at the same time managers have the challenge in how to reach a particular decision (Pearce 2014). Another global challenge for Chinese manufactures is how to optimize their gross profits.

Since these manufacturing companies have their reputation and credibility within the country and around the world. Thus these managers have to ensure the safety and security of those products that public consume or use. Safety of products isn 't a new criteria but the challenge is in addressing the security and safety in operations management field with new insight and fresh perspectives (Marucheck, Greis, Mena and Cai 2011). Security of the product refers to the delivery of product which is uncompromised by intentional damage, contamination or diversion in supply chain. Security issues can
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