The competitiveness and future challenges of

Firm competition[ edit ] Empirical observation confirms that resources capital, labor, technology and talent tend to concentrate geographically Easterly and Levine This result reflects the fact that firms are embedded in inter-firm relationships with networks of suppliers, buyers and even competitors that help them to gain competitive advantages in the sale of its products and services. While arms-length market relationships do provide these benefits, at times there are externalities that arise from linkages among firms in a geographic area or in a specific industry textiles, leather goods, silicon chips that cannot be captured or fostered by markets alone. Within capitalist economic systemsthe drive of enterprises is to maintain and improve their own competitiveness, this practically pertains to business sectors.

The competitiveness and future challenges of

Cloud 5 Cyber-Physical Systems, Internet of Things, Smart Factory, and Internet of Services are the most common four terms cited in academic research publications related to the industry.

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Consequently, and given its initial stage, these are the four main components of the industry. Cyber-Physical Systems As mentioned above, a cyber-physical system aims at the integration of computation and physical processes. This means that computers and networks are able to monitor the physical process of manufacturing at a certain process.

The development of such a system consists of three phases: Unique identification is essential in manufacturing. This is the very basic language by which a machine can communicate.

RFID Radio-frequency identification is a great example of that.

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RFID uses an electromagnetic field to identify a certain tag that is often attached to an object. Although such technology has been around sinceit still serves as a great example of how Industry 4.

The Integration of Sensors and Actuator: This is essential for a machine to operate. However, even with the integration of sensors and actuators, their use was limited and does not allow them to communicate with each other.

The Development of Sensors and The competitiveness and future challenges of Such development allowed machines to store and analyze data. A CPS now is equipped with multiple sensors and actuators that can be networked for the exchange of information.

Machines can exchange data and, in a lot of applications, can sense the changes in the environment around them. Fire alarms are a good example of that. The Internet of Thingshowever, is thought to be what truly has initiated Industry 4.

The integration of such technology allows objects to work and solve problems independently. Of course, this is not entirely true as human beings are also allowed to intervene.

The competitiveness and future challenges of

However, in case of conflicting goals, the case is usually raised to higher positions. Therefore, the IoT can be defined as a network in which CPS cooperate with each other through unique addressing schemas.

With the huge development and diversity in electronic and smart devices, obtaining more and more of them creates complexities and undermines the utility of each added device. Smart phones, tablets, laptops, TVs or even watches are becoming more and more interconnected, but the more you buy, the added value of the last device becomes unrecognizable.

The Internet of Services aims at creating a wrapper that simplifies all connected devices to make the most out of them by simplifying the process. Smart Factory Smart factories are a key feature of Industry 4. A smart factory adopts a so called Calm-system. A calm system is a system that is able to deal with both the physical world as well as the virtual.

A calm system is aware of the surrounding environment and the objects around it. It also can be fed with soft information regarding the object being manufactured such as drawings and models.

Based on the components above, the following are the design principles: Objects, machines and people need to be able to communicate through the Internet of Things and the Internet of People.

This is the most essential principle that truly makes a factory a smart one. CPSs must be able to simulate and create a virtual copy of the real world. CPSs must also be able to monitor objects existing in the surrounding environment. Simply put, there must be a virtual copy of everything.

The ability of CPSs to work independently. This gives room for customized products and problem solving. This also creates a more flexible environment for production. In cases of failure or having conflicting goals, the issue is delegated to a higher level. However, even with such technologies implemented, the need for quality assurance remains a necessity on the entire process Real-Time Capability: A smart factory needs to be able to collect real time data, store or analyze it, and make decisions according to new findings.

This is not only limited to market research but also to internal processes such as the failure of a machine in production line. Smart objects must be able to identify the defect and re-delegate tasks to other operating machines.The Global Competitiveness Report – is published by the World Economic Forum within the framework of the System Initiative on Shaping the Future.

Company competition, or competitiveness, The U.S. steel industry faced a combination of challenges from increasing technology, a sudden collapse of markets due to high interest rates, the displacement of large integrated producers, increasingly uncompetitive cost structure due to increasing wages and reliance on expensive raw materials, and.

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The Competitiveness and Future Challenges of Bangladesh in International Trade. This report gauges Bangladesh's trade competitiveness and future challenges. This report uses the Prof. Michael. The Global Federation of Competitiveness Councils (GFCC) is a network of leaders and organizations from around the world committed to the implementation of competitiveness strategies to drive innovation, productivity and prosperity for their nations, regions and cities.

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