Until relatively recently, many in the West have taken it as almost axiomatic that differences between national systems are either overstated, and/or, are in any case are diminishing as the world converges towards a single, integrated global political-economic system (often expressed in terms of an ‘end of history’ or the Washington Consensus thesis). However, the events of the last 20 years suggest that national differences are not yet ready to be consigned to the historical dustbin. Both the dot.
com and sub-prime mortgage bubbles have raised significant questions about the limitations of deregulated markets; 9/11 and its aftermath, suggest that many parts of the emerging world have a very different idea about how to organise their societies); BREXIT, US trade policy and COVID-19 has exposed the limits of international collective responses to global problems; while the rise of the BRICs, and in especially China, have offered governments alternative model of development outside of the US-centric one that has dominated the since the 1990s.
The module, itself, divides into two parts. Part one focuses on examining national differences in culture, politics, and economics, especially as they relate to differences in financial, taxation, regulatory and legal regimes. It looks both at the differences themselves, as well as efforts to harmonise them, either globally, through regulatory bodies like the World Bank and WTO; or regionally, through regimes like ASEAN, NAFTA and the EU. It looks at why these efforts have stalled and why we may be returning to an age of locally managed markets. The second part of the module looks at how these differences in national systems generate supply chain risk, and how firms may approach the challenge of supply chain risk management, whether this includes understanding how the firm’s operating model needs to adapt to local differences, or thinking through the challenges of coordinating its activities across national borders (the need to create and sustain supply chain resilience for example). Students will examine both how these risks can be quantified; as well as the management question. This includes both managing risk out of global supply chains and responding to/mitigating the impacts of unanticipated disruptions. In doing so, it draws linkages to effective supply chain models covered elsewhere on the programme.
Learning Outcomes
By the end of the module students should be able to:
Critically analyse and describe the key differences between different national political-cultural-economic systems.
Critically comment on attempts to harmonise some of these differences through international regulatory bodies like the WTO, World Bank and the EU.
Demonstrate an understanding of how national differences can impact on a firm’s ability to manage their supply chains effectively. Codify this understanding through formal risk assessment tools.
Articulate the range of strategies that can be used to manage these risks effectively, and show how they can be applied discriminatingly to take account of supply chain and national contexts.
Critically analyse and synthesize advanced academic material from a range of sub-disciplines (management, economics, cultural sociology and politics).
