A recent joint report by Duke University and the Conference Board indicates that American manufacturing is continuing to fall further and further behind the rest of the world.
Here are some of the report’s highlights:
- 53 percent of the companies surveyed had offshore manufacturing strategies in place—up from 22 percent in 2005.
- 60 percent of companies with offshore strategies said they have aggressive plans to expand those strategies.
- “Globalization of Innovation” (engineering, R&D, product design, and software development) is accelerating, thus reducing the need for U.S. innovation.
- A domestic shortage of science and engineering talent is a key issue for off shoring projects. Off shoring compensates for domestic talent gaps.
So, the United States is falling further behind the rest of the world in both Innovation and manufacturing. It appears that lack of talent in America is a major cause. Why is that? If we do not have the talents to neither innovate nor manufacture, what is to become of the United States?
What needs to be done to create/develop the talent—and desire—necessary to again make the U.S. the mighty industrial nation it once was?