The manufacturing industry has long been a powerful force in the world economy. Manufacturers create the many goods people use every day for business, recreation and to meet their basic needs.
From lawn fertilizer to auto parts, manufacturing makes dreams a reality. The industry has a storied past, and there’s no fear that global manufacturing will suddenly shut down, but changes will impact this sector in one way or another. Doing business “the way you’ve always done it” isn’t the best strategy in the face of new challenges.
The manufacturing industry will survive, but individual companies may rise and fall depending on how they respond to seven major challenges impacting the market today. And believe it or not, the right communication strategy is the key to survival.