The world will not be as productive as it is today without manufacturing. Given those early times when mass production has not been invented and people use the old method of manufacturing where products are made one by one, would you still believe that, that system will work today given the fact that over-population is indeed evident? I don’t think so. That is why how Taylorism and Fordism was able to introduce mass production has saved an immense amount of time, productivity and efficiency among manufacturers. Their magic seemed to work and even up to now, still being used as an inspiration for making things possible.
As the world faces different economic conditions lately where growing fears of an international economic downturn repeat because of sowing growth rates on countries like in BRIC, PIIGS, and more; it was believed that the way they handled their countries’ manufacturing is a mess. That is how important manufacturing is. They failed to make manufacturing as the core of their country’s productivity and source of revenue; that is why it resulted to a weak growth. Manufacturing is important because not only does it provide an opportunity for businesses but also it allows an exchange of goods from one country to another through import and export. Failure to make the most out of manufacturing is a failure for growth opportunity.
In spite of the economic conditions happening today, some countries, particularly in Asia remain strong. “Asia has emerged as the most stable global region, and it’s pretty hard to argue against that assertion. China obviously continues to drive growth after several years near double digit GDP advances, and India’s prominence continues to rise. But less discussed nations; Korea, Indonesia, and Malaysia remain strong as well and rising.” Asia has the ability to stimulate the global economies because of the level of Asia’s manufacturing strength. We all have been aware how China’s manufacturing is strong since most of the goods available in the market today are made from China. Its manufacturing has tremendously made the country a worth investing one and it even emerged as one of the most powerful country in the world today.
For entrepreneurs and business enthusiast, manufacturing is important because this proves their ability to make their innovation into a reality. In the Chinese culture, their word “危機” read as WeiJi, a mandarin term for “Crisis” is surprisingly also the term used for “Opportunity”. Entrepreneurs are known to be risk takers and opportunity seekers because they are not afraid to show what they have and give out all their best in everything. This means that in every crisis comes another business opportunity to venture in, to fight for and to make as an inspiration to keep on moving forward.
Through the years, manufacturing has proved its worth to be the core of business and economic success. How countries create their own name depends on how they give importance to manufacturing and economic growth. In my own point of view, manufacturing is simply more than just producing a product but also an ability to make greater things possible. For entrepreneurs, opportunity is ubiquitous because it is everywhere. But what makes a real ‘business’ opportunity different depends on how wise an entrepreneur can transform it. A wise entrepreneur sees opportunity when others see impossibility because he always believes that: “In every downfall, there is hope and in every crisis comes an opportunity.”