To Grow, Mid-Marketers Must “Shake Up” the Way They Do Business
A recent HSBC report finds that the middle market contributes $1.7 trillion to the U.S. economy and supports 16.5 million jobs, representing 13% of output and employment, respectively. Retail and wholesale make up the largest sector presence with 18,500 firms. It also represents the largest share of turnover at an estimated $1.8 trillion and contributes about 3.1 million jobs.
Despite these companies’ tremendous presence, however, they face serious challenges. “They’ve reached a point, where, having grown successfully for some time, they have to shake up the way they do things if they want to grow further,” says Derrick Ragland, executive vice president, HSBC Bank USA.
Retail businesses aren’t wasting any time as they’re quickly shaking up the way they do things. A recent GE Capital survey of leaders of U.S. middle-market firms finds that the retail sector continues to experience steady growth in terms of revenue and employment. In fact, 45% of respondents believe the retail sector will expand in the year ahead, while employment is expected to grow an average of 2.4% over one year.
One of the greatest impacts on retail is coming from mobile devices, according to the GE Capital Survey, which finds 1 in 5 retail transactions is completed online. Half of middle market retailers expect more online transactions will take place in the coming year. Nearly half of the retailers have mobile-designed websites, while another 15% plan to optimize their website this year.
In these times of uncertainty and increased competitiveness, mid-market business leaders will benefit from being able to adapt to, and possibly predict, their dynamic needs in this ever-changing environment.
Chief Executive Group exists to improve the performance of U.S. CEOs, senior executives and public-company directors, helping you grow your companies, build your communities and strengthen society. Learn more at chiefexecutivegroup.com.
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1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns. They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning. Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process. This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented. If you are ready for a Strategic Planning tune-up, select this workshop in your registration form. The additional fee of $695 will be added to your total.
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
