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These clusters include high tech, factor endowment, low cost manufacturing and knowledge service clusters. High tech clusters are incredibly technology oriented and have a much greater dependence on intellectual property due to the constant increasing levels of ideas, innovations and pertinent information. [5]
Drivers of cluster emergence include availability of low-cost labor, geographical proximity to clients (e.g. in the case of Mexico for U.S. clients; Eastern Europe for Western European clients). [17] Knowledge services clusters – Like low-cost manufacturing clusters, these clusters have emerged typically in developing countries. They have ...
Commodity computing (also known as commodity cluster computing) involves the use of large numbers of already-available computing components for parallel computing, to get the greatest amount of useful computation at low cost. [1] This is a useful alternative to high-cost superminicomputers or boutique computers.
Material costs, too, will continue to rise and will reach global levels. As the economy slows down, it becomes harder and harder for companies to pass on the costs to customers. China's rising labor costs will help other South Asian countries gain a foothold in low-end manufacturing. [9]
Distributed manufacturing (DM) is a production model that decentralizes manufacturing processes, enabling products to be designed, produced, and distributed closer to end-users. This shift from centralized production to localized networks offers advantages such as increased flexibility, cost efficiency, and local empowerment.
A value chain is a progression of activities that a business or firm performs in order to deliver goods and services of value to an end customer.The concept comes from the field of business management and was first described by Michael Porter in his 1985 best-seller, Competitive Advantage: Creating and Sustaining Superior Performance.
Fordism is "the eponymous manufacturing system designed to produce standardized, low-cost goods and afford its workers decent enough wages to buy them." [ 2 ] It has also been described as "a model of economic expansion and technological progress based on mass production: the manufacture of standardized products in huge volumes using special ...
Three sectors according to Fourastié Clark's sector model This figure illustrates the percentages of a country's economy made up by different sector. The figure illustrates that countries with higher levels of socio-economic development tend to have less of their economy made up of primary and secondary sectors and more emphasis in tertiary sectors.