An upward trend is now discernible in many areas of the economy. However, cautious optimism disguises the fact that in many instances improvements in the competitive situation have been achieved by short-term cutbacks in workforces and cut-throat pricing policies. Innovation and investments in new technologies have often failed to be recognized as future-orientated measures. Cost cutting by transferring the production capacity to low-wage countries cannot by itself guarantee the survival of the manufacturing industry in the European Community. This book poses a number of topical questions, regarding competitive production for the 21st century, in four key areas: company strategies, product development, production and production systems.