One of the key take aways from this year's conference is that it is essential for fluid power component manufacturers to include emerging markets in their sales strategy. On the first day, Mark Thompson set the stage with his presentation about Creating a Company-Wide Strategy for Strategic thinking.
In his presentation, Thompson of Decision Process International presented the basic components for every company's strategic planning. He did two case studies comparing Ball Corp. and Borroughs Corp. and how they managed their strategy to take advantage of market conditions. This set the stage for the rest of the discussions that involved strategy.
John Caslione of GCS Business Capital started the discussion of doing busniness outsite of the US by stating that 57% of the companies present are currently doing business outsite of the US. In his presentation, Caslione thoroughly discussed and covered the new normal and all of the turbulence involved in global business. Having a strategy for doing business with emerging markets is essential for business success today.
I will review the remainging topics in a later post.
