By Steve Jesseph
Welcome to our new website; we hope you like it. For the past year, we’ve been working on a new look and enhanced functionality to provide you with better and more useful information. In the coming weeks and months, you will find more “News You Can Use”, a new area on “Best Practices”, postings of “Recent Presentations” at various conferences and more. If there are other areas you’d like to see on our website, please contact our head of communications, Yin Yin at email@example.com.
As this is our first blog, a few comments on the global economy.
The global recession has affected almost everyone I know. Every newspaper and website has been reporting on the challenges in the banking sector, the automotive industry, construction and housing, tourism and more. We’ve seen brands and retailers around the world go out of business and close their doors. Consumers have sharply curtailed their spending forcing prices down and cost-reduction strategies in virtually every industry in all parts of the supply chain. Cruise operators and resorts are offering unheard-of prices to attract customers however they can.
At the same time, some companies and industries have actually expanded and grown. A friend of mine has expanded his local distribution company into a global powerhouse in the past three years, and expanded even faster these past 12 months. Why did some businesses grow when others went out of business? I believe it is a function of leadership.
Some businesses have suffered and failed because of events completely outside the control of management. Those businesses that have survived and thrived in these challenging times are lead by men and women who understand that economies grow and contract on a fairly regular basis. “Boom times” and recessions have happened numerous times in the past 100 years and will likely continue to happen. Good leaders understand these economic cycles, and prepare themselves and their businesses to weather the storms and take advantage of the opportunities before them. This might sound a bit trite, but they truly understand the Boy Scout Motto, “Be Prepared”. And, they understand they must continually provide value for their customers; be fair with their suppliers; treat their employees with dignity and respect, and; operate their businesses ethically, honestly and within the laws of each country where they do business. None of this is “rocket science” – just good business practices and sound management. From what I read in news reports from around the world, we’re coming out of this recession and better times are ahead. At WRAP, we grew 12% in the first six months of 2009 and plan to continue that expansion by providing excellent service and value to all participating organizations.
All the best for the remainder of 2009.
President & CEO