I think that the understanding of trends and using them to build five-year plans and even longer plans is essential to smart business. It has not been business as usual in the media business or in the fluid power businss for a long time. It won't be.
Therefore we need to grasp where things are going so that we can provide service to our customers. In the media business, we serve both our reader customers as well as our advertiser customers. We need to deliver fluid power content to our readers in the format and timliness that they expect. Our advertisers need to connect and communciate with our readers in a way that will increase their product and brand awareness.
So, what are the trends? First, the trends in the media business are being redefined regularyly. We have incorporated websites and e-newsletters into our mix of advertising options. What is next? Social Media? Apps for smart phones?
What about in fluid power? Is it smaller, faster, more durable components and systems? Are more electronics and smart controls to be applied to traditional fluid power applications?
In the area of supply chain management, will the roles of distributors and manufactures reps continue to evolve? What about e-commerce?
Is globalization of components to continue to grow and change the business?
These are all essential questions to understanding trends. Can you help me?
