Iain Jenkins Jenkins Electric Co.
Charlotte, North Carolina
Marketing & Industry Awareness Committee Member
Recessions provide a fertile environment for learning about the importance of business diversity. As an EASA business manager for the last ten years, I’ve done my fair share of learning. The following are a few quick impressions of what diversity has meant in our company.
Effective diversification involves finding ways to apply your company’s existing assets, particularly your employees’ experience and skill-sets, to new markets. These “knowledge” assets take time to build, are hard to duplicate, and are much more versatile than a purpose-built machine or building. New markets include new industries, new customer types (utility, military, etc.), new geographical regions, and fulfilling different needs for the customers that you already serve.
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