Dear ALTIX Friends and Community,
Welcome to our Q4/2024 ALTIX ACCESS NEWSLETTER for INDUSTRY EXECUTIVES, where we want to keep you informed about topics which are top of mind.
As we are approaching year-end, we look back on an election year here in the United States and prepare for a new incoming administration in 2025, promising a favorable business climate and hopefully some stress relief on global geopolitical tensions, especially Russia/Ukraine and the Middle East with the war in Israel. Big questions are nevertheless coming with the new administration as well, especially with trade policies and potential tariffs on goods and merchandise entering the United States.
2024 was marked by a still robust economy in the US but Europe was pretty flat, especially with Germany suffering a slight recession. The picture was more mitigated across industrial sectors, with especially the automotive sector still going through a deep restructuring and transformation. In the chart below, you will find projections from the OECD and its breakdown by key economic actors, predicting a 3.2% global GDP growth rate overall for 2025.
On the corporate side, C-Suite Executives have been focusing on key priorities:
- Driving Growth through strategy, innovation, market expansions and strategic initiatives, including targeted M&A transactions.
- Operational Efficiency and Productivity through lean and OPEX initiatives to maximize output while minimizing waste.
- Cost Optimization throughongoing reevaluation of cost structuresand best value strategies, especially in the face of economic uncertainties.
- Digital Transformations and accelerating the adoption of new advanced technologies(AI, digitalization and automation) in order to increase competitiveness.
- Sustainability and ESG through the implementation of sustainable practices, reducing the environmental impact and aligning both with regulatory requirements and key stakeholder group expectations (shareholders, customers and employees).
In 2025, those will essentially remain but will be complemented by the following:
- Artificial Intelligence Integration will be on top of the agenda (see my article dedicated to the subject in this newsletter).
- Geopolitical Risk Management and the permanent reevaluation of global footprints and global supply chain networks.
- Workforce Development and upskilling by investing in leadership development training and education as well as closing critical skills gaps in the workforce to ensure digital and AI readiness.
- Innovation and R&D as allocating resources to research and development will be essential to fostering innovation and maintaining competitive edge in a time of acceleration. Companies will also allocate resources to drive efficiency in the innovation process through R&D Excellence initiatives, Engineering Management Systems and the focus on Platforming and Modularization.
I hope this overview helps you to redefine and calibrate your priorities and I would love to have a chat with you about that.
The Q4/2024 ALTIX ACCESS NEWSLETTER will highlight some Industrial Champions, and I encourage you to read or listen in to these fascinating interviews:
- Industry Champions Interview with CEO & Regional Vice President Americas at Balluff, a German champion in sensing and connectivity.
- Technology Update Interview with Matt Huddleston, CCO and Tim Flaherty, CFO at Enable Injections, which is a very successful Cincinnati based start up in medical devices that has developed a revolutionary drug delivery system to change the lives of patients.
- The Industrialist Podcast on the fascinating story of Patrick Stober, Co-Owner and third-generation leader of STOBER Drives (another hidden German champion).
We will also shed some light on the fascinating topic of Industrial AI – Buzz or Reality? and what it might mean for you and your company.
Our team is continuously listening to the needs of our customers and making solution offerings to reflect those most anticipated needs and trends in order to best support you.
Discover some impressions of our ALTIX ACADEMY solutions on industrial training and education and leadership development with the LAX – Leadership Accelerator and the Ops Leaders – Operation Leaders Circle of Excellence programs.
None of this would be possible without our own Talents and Senior Industry Executives bringing their experience to your biggest challenges. Welcome to our new team members and best of success to them.
Some exciting innovations and developments are also in the making, and you will hear about them soon! Stay tuned!
I wish you and your families a joyful end of the year and some relaxing weeks to enjoy Christmas and New Years celebrations, as well as the traditions and cultures you are celebrating and embracing with friends and family around the world.
Take some time to rest, reenergize and get ready for a turbo-charged 2025!
Yours Cheerfully,
Yannick Schilly – Co-Founder, President and CEO at ALTIX CONSULTING
Click here to read the Q4/2024 edition of the ALTIX ACCESS newsletter.
