Modern organizations operate in a continuously changing environment influenced by economic, political, and technological developments. These dynamics of change have presented business enterprises with unprecedented opportunities and challenges in their quest for finding new ways to compete. Firms are beginning to move from operating on a regional or national to a global scale. They are increasingly replacing the traditional hierarchical organizational structure with centralized control to a flexible, decentralized set-up with varying degrees of autonomy. They are striving to offer customized products in specialized markets to stay competitive. The ability to quickly adapt to changes, such as with time-to-market products, as well as incorporate institutional reforms will be the key to survival for firms.
KeywordsSupply Chain Configurable System Product Life Cycle Mass Customization Micro Model
Unable to display preview. Download preview PDF.
- Merriam-Webster Online Dictionary and Thesarus, http://www.mw.com/home.htm (October 2006)Google Scholar
- Nadler G (1970) Work Design: A System Concept. Irwin, HomewoodGoogle Scholar
- Von Bertalanffy L (1968) General System Theory. George Braziller, New YorkGoogle Scholar
- Von Bertalanffy, L (1975) Perspectives on General System Theory. George Braziller, New York.Google Scholar