The theme for this meeting was “Survival Island,” a focus on techniques and business practices for prosperity in any economy, including a period of general economic weakness.
The educational program had something for everyone in business, including management of the workforce, business operations and marketing.
One program that was appropriate for the current economic conditions and business world was titled “Surviving in Tough Times: Ideas, Strategies and Behavior Needed to Survive & Thrive.” Delivered by Steve Houston, vice president of sales and marketing at DuPont Powder Coatings, the discussion centered around measurement and planning for success.
Houston provided excellent insights into the difference between a successful business and an also-ran. He asked the audience to write down what they thought separated a prosperous company from one that struggles to make a profit and grow. Answers that were turned in included planning, employee training, motivation, incentives, etc. “Each of these things is a part of the answer,” he said. He then listed the items that hold a company back:
- No significant difference in products
- No significant difference in service
- No significant difference in economy
- No significant difference in market
- No significant difference in personnel skills
How do ethics affect business success?
- 74% of purchasing agents say that they select their vendors based on trust.
- 88% of workers say they want to work for a company that treats them fairly.
- 73% of vendors prefer supplying to businesses that are honest and exhibit integrity.