Plus: Manufacturing’s Central Role in the Presidential Campaign, Ways to Improve Productivity, the U.S. Manufacturing Renaissance, Search Engines in Business Decisions and Entrepreneurial Fears.
Sometimes the Internet seems like it’s gotten too big. To help navigate this sea of information, Industry Market Trends’ weekly Worth a Look feature spotlights some of the more interesting, informative and amusing resources that might have slipped under your radar — all in bite-sized chunks.
- Manufacturing Took Center Stage in 2012 Campaign | Recent post-election analysis shows that manufacturing, trade relations with China and outsourcing issues dominated television advertising during the 2012 presidential election, garnering an estimated 975,000 on-air mentions. According to AAM Executive Director Scott Paul, “Both the Democratic and Republican candidates spent a stunning amount of money…to convince voters that they could best represent the interests of America’s manufacturers and their workers.
- 5 Ways to Improve Production Performance | The United States manufacturing industry continues to grow at a moderate pace, and experts expect production to ramp up as managers hire and train new workers. This means many companies will have to overcome a performance gap by boosting their productivity. John Mills, executive vice president of business development at Rideau Recognition Solutions offers tips for increasing productivity on the line, such as rewarding floor managers who provide training and valuing efficiency as much as output.
- The U.S. Manufacturing Comeback | Manufacturing has experienced a strong rebound across the country, adding half a million new jobs in the past two years and maintaining a 21 percent share of the world’s manufactured goods. Moreover, the value of manufacturing output increased by $700 billion between 2000 and 2010, indicating there is a bright future ahead for the industry and leading Mary Andringa, chair of the National Association of Manufacturers, to proclaim, “There’s a renaissance going on.”
- Can Your Name Be a Business Liability? | Given the power and ubiquity of online search engines today, it’s no surprise that people often perform searches on companies. However, people are increasingly making business decisions based not only about business information, but personal details about executives and employees involved with a company. In fact, nearly half of all U.S. adults have searched someone before doing business with them, and 45 percent have found something that made them decide not to pursue the business arrangement simply due to name results.
- American Entrepreneurs Fear Failure | A recent international survey indicates that on a global scale, entrepreneurs in the U.S. are generally less accepting of failure than those in other countries. Based on data collected from investors and entrepreneurs in 17 countries, the findings show that only 37 percent of U.S. respondents said past failures bode well for a new business, compared to 81 percent in the Middle East, 67 percent in Asia and 42 percent in Europe. In addition, 41 percent of Americans said entrepreneurs should persist instead of cutting losses after a business fails, fewer than in the Middle East (55 percent) and Asia (53 percent).
- Hurricane Sandy by the Numbers | Although the full extent of the damage caused by Hurricane Sandy has yet to be assessed, estimates put total costs at up to $60 billion in economic losses. Other statistics reveal just how many people were affected by the storm, including roughly 8 million citizens who were left without power, passengers on approximately 18,000 canceled flights and property owners who had to deal with an estimated 7,000 downed trees in New York alone.