The balance of world economic growth is tipping in another direction. Just as economists have begun lowering their forecasts for China and many other developing economies, the American economy is bouncing back. Japan appears to have turned a corner and is ending almost two decades of grinding deflation. Economic data out of Europe on Wednesday provided the first solid indication that many countries in the euro zone may be escaping the clutches of recession.
Increasing optimism in the U.S. economy has translated into a heightened confidence in regards to the still-shaky job market, a recent survey suggests.
One in four Americans believe now is a "good time" to find a quality job in the U.S., officials at Gallup say, citing a poll based on telephone interviews conducted early last month with a random sampling of over 2,000 adults.
Companies are increasingly connecting the dots between risk management and sustainability by making sustainability issues more prominent on corporate agendas, says a study by Ernst & Young LLP and GreenBiz. Driven by trends such as extreme weather events and risks to natural resources, among other factors, the shift is evidenced by the increasing involvement in sustainability-related issues of shareholders and the C-suite. At the same time, the study finds, companies are not adequately aligning risk response to the scale of sustainability challenges.
As the U.S. looks to forge a path for sustainable economic growth for the nation, there is a powerful business tool that can help U.S. industry to fuel business performance and drive growth. It's called standardization. This tool can help tap into new and expanding technologies. It can help businesses out-innovate competitors in the global market. And it can help you cut costs and boost your bottom line.
Li & Fung - the most important company that most American shoppers have never heard of - has long been on the cutting edge of globalization, chasing cheap labor to garment factories first in China, then elsewhere in Asia, including Bangladesh. Now, with sweatshop disasters there drawing international scrutiny, the business is looking for the next best place - perhaps South America or sub-Saharan Africa - where it can steer apparel buyers seeking workers to stitch clothing together for a few dollars a day.
While most executives recognize the importance of supply chain sustainability, cost is still a major factor and trumps environmental impact as a driver of behavior, according to a survey of 150 C-level and senior leaders at U.S. and European companies, according to AlixPartners, a global business-advisory firm. However, those that can implement cost-effective sustainability strategies and effectively market them to customers will have a competitive advantage.
President Obama publicly deplores growing economic inequality in the United States. At the same time, he is pushing for a new Trans-Pacific Trade Agreement on top of the trade agreements he won in 2011. Evidently, he sees no inconsistency here, but a growing body of economic research points to the adverse effects of lowered tariff barriers on manufacturing workers and their communities. Whether or not the losers are beginning to outnumber the winners, free trade is increasing the economic distance between the two.
Innovation is a popular word today, with plenty of books supporting it. Most pundits promote big innovation programs with innovation departments and innovation plans. But unless you happen to have hired the next Nikola Tesla, this is hardly a sustainable strategy.
For years developing countries have been thrice blessed. First, near-zero interest rates in the U.S. drove investors into bourses from Mumbai to Mexico as they searched for higher returns. Next, China emerged as the trading partner of choice as it gobbled up Indonesian palm oil, Cambodian hardwoods, and Brazilian iron ore. Finally, with the exception of the Middle East, the politics of most emerging-market countries were stable. The blessings have run out.
Tim Weiner, global risk manager of commodities and metals at MillerCoors LLC, smells a rat in his supply chain. He believes bank holding companies, through their control and ownership of stores of aluminum, are inflating the metal's prices.