Companies have survived, and indeed thrived, against the emergence of lower-labour-costchallengers and the opportunities that have arisen from rapid growth in the global economy.
Over the past 18 months, manufacturers have had to demonstrate an even greater degree of agility in responding to significant shifts in the balance of competitive threats andopportunities.
Companies enjoyed a period of relative stability in the five years to 2008, but the booming demand, particularly in emerging economies, pushed fuel and raw materials prices to record highs. Companies were also dealing with growth ambitions from lower-labour cost-competitors as they sought to scale the value chain.
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