Figure P.2b-3: Strategic Challenges

Type

Description

Business Strategic Challenges

Our business challenges include:

1) The trend to consolidation is projected to continue for several years,

2) The need to find and balance the best approach to cost reduction with our existing successful approaches to conducting business,

3) The need to be a good governance role model.

4) Potential changes in regulations

Operational Challenges

The effect of significant and ever changing technological advances on our supply, operational, professional services, and inventory functions represents the most significant operational strategic challenges are presently confronted with for the foreseeable future.

Human Resource Strategic Challenges

Our key human resource challenges include recruiting capable people, developing them, retaining them, and continuously gaining/maintaining their acceptance of ever-changing work responsibilities. The overall shortage of professional and technical personnel, escalating salaries, dynamic technical advances, and the relative ease of moving across similar type organizations contribute to this challenge.