Next Generation Management for Growth in Uncertain Times
Hits:    Date: 2010-04-18

Next Generation Management for Growth in Uncertain Times
Today’s small and midsized manufacturers face a myriad of business challenges including: pressure to reduce costs to compete with emerging markets, identifying new opportunities & markets, differentiators, attracting and managing talent, and driving innovation. The strategies companies implement today to address these challenges will create the foundation they will be competing from tomorrow. 
The American Small Manufacturers Coalition (ASMC) recently released a nation-wide study that was co-conducted by the Manufacturing Extension Partnership (MEP).  The study outlines six essential Next Generation Strategies for global competitiveness to meet the business challenges of today and into the future:
 Customer-Focused Innovation
 Talent Management
 Systemic Continuous Improvement
 Extended Enterprise Management
 Sustainable Product and Process Development
 Global Engagement
The study also indicated the barriers faced by small and mid-sized manufacturers when it comes to putting these strategies into place.  These barriers include: lack of awareness, cash, management depth, and the ability to reach outside the organization to form strategic partnerships and leverage expertise.  But where does a company begin?
The following is an example of how one company put several of these strategies into place by opening themselves up to outside resources, focusing on the needs of a new market, and actively managing their talent.   This company’s willingness to learn, and flexibility in terms of continuously improving on their strategic direction, resulted in growth beyond their original expectations. To start this process they did not spend tons of money, they simply opened their minds to learning and new opportunities.
New Energies Venture, Inc. most recent publication “Next Generation Management for Growth in Uncertain Times” This white paper addresses challenges today’s businesses face in an ever-changing global economy.