How to Revitalize U.S. Manufacturing
Tita, B, (2016, June 7). How to Revitalize U.S. Manufacturing. The Wall Street Journal.
Bob Tita in his article asserts that after the continuous decline, US manufacturing needs to make a comeback but only if the policy makes comes up with initiatives to revive it. It was evident that shed of 5.7 million jobs in the manufacturing sector between 2000 and 2010 which was over one-third the entire workforce in the manufacturing sector. This situation led companies to leave plants as well as workers in preferences to foreign countries that were, of course, less costly. Bob Tita asserts that currently studies, politics, and leadership have started to come up with initiatives that can promote job gains as well as investment in the sector of manufacturing. He asserts that the ideas run from those pruning the regulations that increase the costs as well as abilities to run manufacturing and those imposing value added tax on imports for companies to find it easy in hiring skilled workers. Some of the strategies he proposes to bring back the manufacturing sector in the US include making exports more valuable and impose a value-added tax. The other strategies are that there is a need to deal with an overvalued currency and look at the true cost of offshoring. Purging of duplicate regulations and looking at more than jobs together with turning community colleges into career factories would be inevitable. Bob Tita also asserts that the federal government also needs to spend more on manufacturing R&D and creating regional centers of expertise.
The article remains relevant from the fact that our text focuses on leadership and strategic management. The situation facing manufacturing in the United States calls for robust and strategic leadership to turn things operational. Reviving manufacturing sector, particularly in a country like the United States, needs multi-dimensional approach including involvement of policy makers, economist’s salary as well as business minded initiatives to rescue the situation back to its glory. The steps offered has the ability come up with a robust foundation of the manufacturing sector that can remain competitive in the world while maintaining ethics and accountability. Coming up with such strategies present an avenue that attracts and retains manufacturing investments must which in the end can positively impact economic performance of the country performance
This author feels that the reviving manufacturing sector in the United States is responsibilities that need to be taken by the federal government in conjunction with others stakeholders. Attracting manufacturing investments and retaining employees of this sector seems a concern that the article presents. The political class, policy makers as well as other relevant actors in the manufacturing sector are vital in making robust initiatives that can drive any agenda in the country. This article is very informative and working with the proposed strategies are remains one of the vibrant ways that can revive manufacturing sector in the United States. Bob’s article has vast information relative sustainable investment in any industry, particularly where there is a direct link to country economy. It, therefore, shows how different responsibilities need to be undertaken to make manufacturing regain it lost glory in the United States. Therefore, the US leadership needs to swallow the bitter pill and implement the strategies laid in the article if there are any hopes to revive manufacturing sector.