Commoditize (v): The act of making a process, good or service easy to obtain by making it as uniform, plentiful and affordable as possible. Something becomes commoditized when one offering is nearly indistinguishable from another.
The famed management guru Tom Peters once said, "Do what you do best and outsource the rest." Thanks to low costs abroad, many firms have chosen to outsource much of their manufacturing capacity over the past few decades.
America is at a crossroads. Are we to become a "warfare/welfare state" or an "innovation nation"? By the way in which we choose to spend our resources and approach our greatest problems today we are making a choice for tomorrow.
In Greenville, SC, a river runs through the past and the future of American manufacturing. On one side stands run-down and rusting towers of bygone factories. On the other side sit low-slung, long buildings churning out precision products for the likes of BMW and General Electric.
The digital age has been a boon for innovators and entrepreneurs. In a difficult economy, the small business heroes, inventors and pioneers who keep the American private sector at the head of the international pack are finding ways to do more for less, and the Internet is helping it happen.