From the course: Accounting Foundations: Budgeting

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Hong Kong and the typhoon border shutdown

Hong Kong and the typhoon border shutdown

From the course: Accounting Foundations: Budgeting

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Hong Kong and the typhoon border shutdown

“

- An important function of budgeting is identifying potential bottlenecks in advance so that you can take steps to keep your processes running smoothly. - I agree. Let me tell you a story of how costly production bottlenecks can be. A story that takes us to the mysterious east. - Ooh, the mysterious east. Are we talking about Virginia? Delaware? Not New Jersey? - No, no, no. I'm talking about the Far East. Let's go to Hong Kong. - Excellent. You know I spent a couple of days in Hong Kong. I've never seen a nighttime skyline quite like what I saw in Hong Kong. - Yeah well this story is not about Hong Kong's nighttime skyline. A friend of mine lived in Hong Kong and was a manufacturing representative for a US company. - So why did a US company need a manufacturing representative in Hong Kong? - Well this company purchased components from suppliers in southeast China. So my friend went across the border several times a week to talk with suppliers, check on quality control, and so forth…

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