The last 5 years have been the most turbulent period since the end of WW2 for companies in all industries, from all over the world. Political tensions between the leaders of the world’s major economies have sparked an unprecedented tariff war and economic sanctions that currently affect virtually every country and business in the world. The COVID19 pandemic blocked the international transit and slowed down the production of goods and services for more than a year. Futhermore, Russia’s ongoing invasion of Ukraine calls into question not only the security of Europe, but of the entire planet. At the same time, the technological revolution of Artificial Intelligence is gradually presenting itself as one of the great technological leaps in history, opening prospects for profound transformations in the way companies manage their production processes.
Joseph Stiglitz, winner of the Nobel Prize in Economics, defined globalization as the “growing economic and social interdependence between countries through increased international trade in goods and services, flow of capital, and circulation of information and ideas.” In this sense, Globalization ceased to exist in 2018 and has not yet shown signs of resuming. Managers around the world are now faced with the need to review numerous decisions, restructure teams and supply chains and perform a wide range of actions essential to the success of their companies.
To contribute to this discussion, IBS Americas conducted a worldwide survey in May and June 2023 of companies involved in international business assessing the impacts of these factors on global supply chains. These networks are the first to be affected by international turmoil and the response adopted by the companies points to the direction that will be followed by their value chains around the world. More than 4000 companies from 86 countries responded to the two surveys presented. The first survey explores the external factors that have affected companies and their impact on production and costs. The second survey dealt with decisions to relocate suppliers inside and outside their country, a key element in boosting the economic development of some regions – and deteriorating the economy of other regions.
The results of this research will be discussed at an online international symposium that will take place in the 2nd half of 2023. Professors and business experts speak at an event aimed at business managers and students in this field.
We appreciate your support and count on your presence at our event.
Prof. Ricardo Britto, Ph.D
International Business School Americas, Dean
Research Coordinator
