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28 November, 05:08

When Jerry started his small appliance manufacturing company in the 1950s, every component part was made in the USA and the product was assembled in the USA. Today, he sources the components from China. The change at this company is an example of the

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  1. 28 November, 05:12
    0
    globalization of production

    Explanation:

    Globalization of production is a common practice adopted in our contemporary world, which involves a producer sourcing for various components needed for production from different locations in another country, with the sole aim of lowering the overall cost structure.

    The change at the company started by Jerry is an example of globalization of production. It is most likely that the company has found the sourcing of the components from China more economical, hence, the change.
  2. 28 November, 05:21
    0
    When Jerry started his small appliance manufacturing company in the 1950s, every component part was made in the USA and the product was assembled in the USA. Today, he sources the components from China. The change at this company is an example of globalization of production.

    Explanation:

    Globalization of production is a situation whereby material, labour and capital flow for one country to another so as to enhance production process.
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