In her column in the Fall 2010 issue, MHEDA Executive Vice President Liz Richards highlighted a few of the association’s Critical Impact Factors for 2011. The complete list is below.
11 Critical Impact Factors for 2011
- Economic recovery continues to be slow. Members need to uncover new business opportunities, be more flexible, react quickly and efficiently, provide ongoing employee training, streamline their processes, and embrace metrics such as benchmarking tools and key performance indicators.
- There will be continued scrutiny of all dollars spent, emphasizing the importance of the value proposition and the requirement for a return on investment for both members and the association.
- With customer profiles changing, members need to structure their organizations to provide more services using core competencies and technology while minimizing internal cost.
- The banking and lending climate is worsening, with more banks failing and more credit scrutiny. Be mindful of your cash flow position as well as the creditworthiness of the customer.
- Members must be prepared to deal with more governmental intervention in their organizations, i.e., health care bill.
- Because of emerging online technologies, members and the association need to become educated and understand the implications and opportunities.
- Members must provide support and training to their employees and, likewise, employees must provide more value than ever before.
- Distributors need to demonstrate and communicate their value to both customers and suppliers.
- The association and its members need to continue to monitor the impact and opportunities of green technologies, energy efficiency and sustainability.
- The supply chain process is changing, with lengthened lead times, increased customer demands and limited resources, including personnel.
- Consolidation of customers, suppliers and distributors is creating realignment of distributor networks.