Pick a major U.S. industry, such as automobiles or computers, and discuss the lapses in technology and innovation on the domestic front that permitted foreign competitors to get a foothold and, in some cases, a dominant share of the market. Who or what do you think was to blame for this situation?
In the mid-1980s, General Motors undertook a $5 billion program to introduce robotics and computer-integrated manufacturing techniques into many of its assembly plants. The results were disappointing, to say the least. Enormous technical problems dogged the program from the beginning, and the ultimate gains in productivity were decidedly modest. What do you think went wrong? Why? From the long-term perspective, was the automation program a good idea?
his case study will address the concept of inflation – the rise in average level of prices sustained over time that corresponds to a fall in the internal (domestic) purchasing power of money – with regards to Venezuela. The goal here is to explore several trains of enquiry in order to critically evaluate the impact inflation has had – and may potentially have – on the national income and economic growth of Venezuela. As it stands, Venezuela’s inflation rate – 282972.8% – significantly exceeds that which holds 2nd position – Zimbabwe -175.66% (WorldEconomicForum 2019). In order to better decipher the notable disparity in inflation rates between Venezuela and the rest of the world, several areas will be analysed. This macroeconomic issue will be addressed with regards to challenges surrounding it alongside any potential benefits, it’s impact on the labour market, it’s fiscal impact in terms of taxes and government spending and potential policies that could be implemented in hope of combating it. Venezuela holds the highest recorded oil reserves in the world – possessing approximately 300 billion barrels – even surpassing Saudi Arabia. Evidently, oil is one of Venezuela’s most valuable commodities accounting for 95% of Venezuela’s exports and 25% of its gross domestic product (Independent 2018). However, during a period of time in which the global price of oil dropped, foreign demand to buy Venezuelan oil dipped simultaneously.>GET ANSWER