Companies Reposition in Face of Global Competition

Summary

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While relatively inexpensive foreign labor and rapidly developing technology are forcing some U.S. manufacturers to close their doors, other companies are developing strategies to keep themselves alive and well in the increasingly globalized and high-tech economy.

By adding value to their existing products, specializing in niche markets or focusing on customers in their own neighborhoods, these companies are finding ways to compete.

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Companies Reposition in Face of Global Competition

Still, the survivors are fewer in number than the business fatalities, according to Waring Justis Jr., a partner of Justis & Justis, a turnaround firm based in eastern Baltimore County.

During the next decade, more than 3.3 million jobs representing $130 billion in wages will be outsourced to foreign work...

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