The need to sustain production and growth is one of the central concerns in running a business. Therefore, inspecting the phenomena and notions associated with production and growth is vital. In her recent article, Harriet Torry explained that, despite the pandemic, the U.S. manufacturing industry has been thriving, showing an impressive increase in production and growth (). By recognizing the multitude of factors that shape the production process, U.S. manufacturing organizations have managed to continue delivering solid performance despite the effects of the coronavirus.
The efficacy of managing the manufacturing process s and, therefore, delivering proper production rates can be attributed to companies’ saving and investment policies. Indeed, as the example represented in the article indicates, the levels of manufacturing have been sustained in no small part owing to collaboration with Chinese partners and making relevant investments (Torry). Similarly, employee education is likely to have played a major role in the enhancement of U.S. manufacturing since the article emphasizes the increase in performance rates (Torry). Likewise, research and development can be seen as vital in advancing the levels of manufacturing due to the need to collaborate with overseas partners and exchange data actively, with minimum delays and the highest accuracy rates possible.
The described factor has also been enhanced by the free trade policy, which has allowed American companies to select partners overseas quite flexibly and avoid paying tremendous taxes. Indeed, the importance of free trade is enormous for manufacturing, given the necessity to assemble products, which occurs at different stages of the supply chain process and, therefore, requires rather complicated logistics (Torry). Finally, research and development as the guide toward continuous improvement and the introduction of innovative products to the target audience should be viewed as central to the currently observed growth in manufacturing and, therefore, production rates.
Overall, the article under analysis proves that the presence of economic stability is linked to the production function of its businesses. Relying primarily on the presence of sufficient human capital, the specified outcome can be increased and improved by incorporating other forms of capital into it, particularly physical ones (Asplund 541). Namely, in the context of manufacturing, advanced equipment can be considered a critical part of raising performance quality. At the same time, a company leader must keep in mind the significance that talent management has on the efficacy of the labor force and the quality and quantity of the output (Torry). Thus, as the example of U.S. manufacturers has shown, reasonable management of the resources in question, particularly the focus on the needs of employees and the promotion of professional training as the means of enhancing the value of the human capital, is crucial to the management of production and a rise in corporate growth.
Even though the pandemic has been taking its toll on the U.S. economic performance, the extent of production and growth has been kept at a decent level due to the focus of American manufacturers on a multilateral analysis of the issue. Specifically, by acknowledging the diversity of factors affecting the manufacturing process, U.S. organizations have succeeded at maintaining their performance rates at a decent level. Therefore, the case at hand shows that even in a situation that can be described as highly adverse and hostile, creating premises for improvement and effective quality management is possible.
Work Cited
Asplund, Kajsa. “When Profession Trumps Potential: The Moderating Role of Professional Identification in Employees’ Reactions to Talent Management.” The International Journal of Human Resource Management, vol. 31, no. 4, 2020, pp. 539-561.
Torry, Harriet. “U.S. Manufacturing Growth Continued Early in 2021.” The Wall Street Journal, Web.