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 worldâ€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 companyâ€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 Africaâ€s Economic Victims
Can South Africaâ€s fishing industry survive the outbreak of the novel coronavirus in China?Will South Africaâ€s lobstermen be able to recover from Chinaâ€s novel coronavirus?
Reflect on globalization and South Africaâ€s fishing industry.How has globalization brought greater prosperity to the industry?What are the drawbacks of globalization for South Africaâ€s fishermen?
What are the lessons that can be learned from South Africaâ€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?
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