Complete the following questions after viewing the posted videos in the classroom.Limit responses to no more than 300 words per question.
Video #1:Coronavirus Hits Companies in China, but They Still Have a Reason to Stay
- Discuss globalization and the emergence of China as the world’s factory floor and more recently, an important market for multinational companies.What are the dangers of relying on a single market for both production and sales?
- Reflect on the value of lean production and just-in-time delivery.Have companies taken the strategy too far?Should companies shift at least some production from China so other locations like Vietnam even when China represents the optimal location from a cost and productivity standpoint.
- Consider the implications of disruptions to a company’s global supply chain from unexpected events like weather or a pandemic.How is COVID-19 different from a situation like the tsunami that hit Japan in 2011?
Video #2:Coronavirus:South Africa’s Economic Victims
- Can South Africa’s fishing industry survive the outbreak of the novel coronavirus in China?Will South Africa’s lobstermen be able to recover from China’s novel coronavirus?
- Reflect on globalization and South Africa’s fishing industry.How has globalization brought greater prosperity to the industry?What are the drawbacks of globalization for South Africa’s fishermen?
- What are the lessons that can be learned from South Africa’s fishing industry in the wake of the COVID-19 pandemic?Should countries take a more inward focus?What are the long-term implications of the novel coronavirus for developing economies like South Africa?