How Truckload Carriers Can Thrive During Tough Times

How can truckload carriers thrive during tough times like the pandemic and the Great Recession?

No one would have guessed in early 2020 that so many businesses would be turned upside down by a worldwide pandemic, and that others would have found a way to thrive, incredibly, through that same pandemic.

What common traits are shared by businesses that survive when adversity strikes? John Spence, a top business thought leader named one of America’s Top 50 Leaders to Watch by the American Management Association, shared insights on that in a recent webinar hosted by Axele.

Organizational Issues Truckload Carriers Face When Confronting a Crisis

A crisis makes adapting to a changing industry even harder. Spence says the organizational issues that make surviving a crisis more difficult are:

1. Lack of Vivid Vision – Teams need a vivid, well-communicated strategy for growth. Ex: This is what the company wants to look like. Here is our revenue, this is where we are going, etc. This is the part of the industry we want to own.

2. Inability to Have Courageous Communication – Management needs to address issues, encourage people to deal honestly and feel safe while discussing big issues and problems. Lack of conflict resolution skills or lack of disciplined execution can impede communication.

3. Talent Issues – The most important part of your business is people. Talent, talent acquisition, communication, getting good people on your team, and talent retention remain top priorities for  companies. You might have a great company, great ideas, and great trucks, Spence says, but if your people don’t hold themselves accountable and each other mutually accountable for delivering excellence, it’s not going to work.

By assessing if any of these problems exist in your organization and addressing them if they do, you can strengthen your company and improve its chances of survival in tough times like these.

How truckload carriers can survive tough times

Spence also covered key concepts including:

  • What makes a good business strategy?
  • Getting the competitive advantage
  • Dealing with change in an organization
  • And more

You can get a complete overview of the ideas presented for truckload carriers in the webinar in a new report summarizing Spence’s insights.

Get it now

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