From Fordism to Post-Fordism and the Market Economy
From Fordism to Post-Fordism
The Fordist Era (1945-1970s)
During the Fordist era, state intervention played a significant role in regulating the economy. The state prioritized the general interest, counteracting market excesses and promoting social welfare. Public spending increased, supporting healthcare, education, and social protection. The state mediated labor-capital conflicts, fostering employment and wage growth.
Post-World War II Europe faced a shortage of goods, leading to the dominance of
Read MoreThe Welfare State, Fordism, and Economic Crisis
The Welfare State
The welfare state is a concept of government where the state or social institutions play a key role in protecting and promoting the economic and social well-being of citizens. It is based on equality of opportunity, equitable wealth distribution, and public responsibility for those in need. A fundamental feature is social insurance, common in advanced industrialized countries like the UK (National Insurance) and the US (Social Security), usually financed by compulsory contributions
Read MoreStrategic Operations Management: Optimizing for Competitive Advantage
Unit 4: Strategic Operations Management II
Operations Functions
To achieve competitive objectives and mission, consistent decision-making policies are essential.
Structural Decisions
Internationalization
Influencing factors include emerging markets, geographical diversification, production capacity, product life cycle, and competition. Several internationalization paths exist:
- Export: Selling products directly or through intermediaries. Advantages: No need for plants or extensive logistics facilities.
Tech Billionaires Add $750B to Fortunes in AI-Driven Year
Tech Billionaires See Fortunes Soar in AI-Fueled Year
Tech Moguls Reach Unprecedented Heights Amid AI Frenzy
By Phoebe Liu, Forbes Staff
The world’s wealthiest technology tycoons are
Cash Management & Factoring: Methods, Advantages & Disadvantages
Cash Management Methods
Just in Time (JIT)
JIT is an efficient system for producing necessary quantities at key moments, enabling timely and consistent delivery based on customer needs. This method optimizes distribution channel costs, avoids stockouts and overstocking, simplifies administrative tasks, maintains product value, and guarantees quality and resource availability. It’s ideal for companies aiming to keep low inventory levels by acquiring raw materials shortly before production. However,
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Administration
Administration is derived from the prefix “ad” (to) and “ministratio” (minister), signifying subordination or obedience. It refers to a function performed under command, a service being provided.
Definitions of Administration
GP Terry: “It consists in achieving a predetermined objective through the efforts of others.”
Henry Fayol: “It involves managing, organizing, commanding, coordinating, and controlling.”
Administration: “The function of getting things done through others” or “getting
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