Companies will need to focus on globalization, innovation, strategic market planning, sustainability and uncertainty in the coming year, according to Tompkins Associates’ Top 11 Priorities for Profitable Growth in 2011.
“Across key industries and areas, we have developed nine Top 11 Priority Lists – Automotive, Consumer Products, Food & Beverage, High-Tech, Logistics Service Providers, Mergers & Acquisitions, Retail, Pharmaceutical and Service Supply Chain – to help companies plan for 2011,” said Jim Tompkins, president and CEO of Tompkins Associates. “While we found a few common priorities across the board, each industry has its own specific set of needs.”
The overriding theme across industries is that “uncertainty is certain,” said Tomkins. Organizations in all sectors will face uncertainty head-on in 2011, according to the firm, and the most successful ones will lead – not manage – through uncertainty and grow more agile to deal with unpredictable circumstances.
Globalization also remains a high priority for gaining a competitive advantage, the firm points out.
“The benefits of doing business in emerging markets cannot be ignored,” Tompkins said. “While the focus has mostly been on whether or not to outsource, the question now may be whether or not to sell into these growing countries and regions.”
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