“Within five years, if you’re in the same business you are in now, you’re going to be out of business.”— Peter Drucker Recently, I watched a series of fintech startup investor presentations. These early-stage companies sought VC funding to take their... Continue Reading
Over the last few months, MTI has posted out for comments from members on how their current business insurance programs with property, liability, errors-omissions, commercial auto, and workers compensation have been progressing. What we learned is this is a huge pain point for most members. ... Continue Reading
US manufacturing is poised for a significant resurgence. The supply chain debacles caused by the pandemic have shown the weakness of an over-dependence on a long supply chain, especially one outside the US. Further, the rising tensions with China have caused the US to question its dependence on... Continue Reading
When R&D, production, packing and even marketing are in close proximity, new ideas can thrive in a different way. Factories have been a thriving part of the global economy for more than two centuries, well before Henry Ford and his famous assembly line. Back then, manufacturing was at the... Continue Reading
For organizations to be successful they must always be evolving. Even in the best of times, the shifts and changes of that evolution often take a toll on people. The best leaders understand the nature of change exhaustion and act to reduce it, especially in times of great change and stress. Of... Continue Reading
Now is the time to prepare your business for the recession. In addition to the typical strategies of cost-cutting and cash flow management, add culture-building. A healthy, effective, and resilient company culture can help you not just survive, but actually thrive during an economic... Continue Reading
The U.S. manufacturing industry is looking at a potential shortage of 2.4 million workers in the next decade. Here are my tips on how to overcome this shortage with more effective training. As we dive headlong into current and pending U.S. manufacturing labor shortages, it’s critical to... Continue Reading
MTI’s economic forecast partner, ITR Economics, is forecasting good economic growth between now and 2030. This will not come without a hiccup along the way, but it is growth that will take a turn early 2030, to a pretty significant downturn. There are many factors that will lead to that... Continue Reading
With the reconciliation legislation approved by the U.S. Senate and set for a vote in the House this afternoon, manufacturers across the country are working to understand how the legislation would impact their work. The NAM has compiled a policy guideto offer some useful information about the... Continue Reading
My Dad used to say, “Decide. Delegate. And disappear.” Delegation is an important component of most leadership roles, but you must understand that delegating the job doesn’t mean delegating the responsibility. You are still responsible, even if you are getting someone else to do... Continue Reading
U.S. manufacturing production probably peaked during the second quarter, though the data are noisy and conflicting, and a turning point may not become obvious until September or October. U.S. manufacturing output in June was down by 0.4% compared with March though it was still up by 3.6%... Continue Reading
Two articles in yesterday’s Wall Street Journal reminded me that unless we are purposeful about our culture and work relationships, things will get messy. One article focuses on annoying colleagues back in office together, and the other on heavy demands from CEOs. Both articles identify... Continue Reading
