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McKinsey & Company: Capitalizing on Lighthouse Factories
The World Economic Forum and the consulting firm McKinsey & Company collaborated with academics to create the concept of lighthouse factories in 2018. The concept represents a vision for manufacturing in the digital age, in which cutting-edge digital technologies are designed and deployed to enable innovative manufacturing practices to be implemented at large scale. The concept has since become a global standard for digital manufacturing. For McKinsey & Company, and other consulting firms, this vision brings significant opportunities but also requires these organizations and their consultants to obtain an in-depth and nuanced understanding of lighthouse factories and the underlying business models, practices, technologies, and cases. -
Amazon in China
Amazon.com Inc. (Amazon), the Seattle-based e-commerce giant, leaped into China with a buyout of Joyo.com Limited, China’s largest online book, music, and video retailer, in 2004. Amazon had the ambition of becoming the dominant online retailer in China by capitalizing on its globally recognized brand, cutting-edge technologies, and advanced business model and philosophy. In the following years, China’s e-commerce industry experienced exponential growth, representing a golden opportunity for technology firms. For Amazon, however, many challenges started to surface, including intense competition from Alibaba Group Holding Limited and JD.com Inc., which limited Amazon’s growth. In 2018, as China’s e-commerce industry quickly became one of the world’s largest, Amazon had to determine what its next steps should be.