Even a contract manufacturers that operates solely by a near term customer perspective versus a longer term market based strategy, assumes considerable risk to growth, and even its survivability. Unlike in the past, current market instability requires more than to rely on a sales rep bagging the next project, in effect, to save the day...or the next couple of months.
What amazes me is how often, even a mid-sized manufacturer, admits to not having a business plan. And of the business plans that do exist, many do not reflect a prediction of the future, but more of a near sighted view for the obvious, essentially a sales-plan. A forward looking business plan is crucial to laying the foundation for perspectives and actions that lead to sustainability, and future growth.
An important element of the plan comes from listening to the market for shifting needs and new or potential trends that have near or long term consequences. Changing competitive influences and industry wide trends provides the additional fuel for a projection of 2 or 3 possible strategies that a manufacturer will be poised to adopt, depending on future market conditions.
Please share your thoughts with Dennis at dennisparis@tangerinestrategies.com
Sunday, August 2, 2015
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