Benchmark Your Company against the New Stars of Manufacturing
Many small- and mid-size manufacturers (SMMs) - the New Stars of Manufacturing - are not only surviving in this era of change; they are flourishing. Why?
The New Stars of Manufacturing continually transform their companies to fit the changes in their markets. They are not afraid of foreign competitors and the changes brought on by globalization. They are not hoping or waiting for a return to the good old days. Change to the leaders of these companies isn't a threat; it's nourishment. They eat change for breakfast.
The New Stars of Manufacturing seek out and capitalize on the new. They develop new, innovative products to serve the new needs of their current customers; and search for new customers in new, profitable market niches. They're experts at monitoring customers and quick to adapt to market shifts with new marketing campaigns
The New Stars of Manufacturing are organized to "turn on a dime." Operating with excellent cost information, they continually evaluate the potential returns on new opportunities. They can - and do - quickly evaluate new niche markets, identifying low-volume, high-margin opportunities that drive profitable growth.
The New Stars of Manufacturing diversify. They do not rely on a few customers or a few products or even a few marketing campaigns. They build a product portfolio that serves many, diverse market niches, which insulates them from the inevitable market downturns suffered by any particular market segment. They are niche marketers that serve--and continuously market to--many niches.
How do you compare? - Take the test and find out now.
The ten key success factors listed below enable the New Stars of Manufacturing to win in today's economy. Rate your company by selecting the number that best describes how well your company executes each factor, with "1" being "awful" and "10" being perfect.
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