Seven in ten clients cited cost reduction as a challenge in FY 2015, which has declined slightly. While continuous improvement is consistently cited as the top single challenge over the past seven years, there are some important shifts since FY 2009.
Smaller shares of clients report that growth, sustainability, and financing are important challenges versus seven years ago. For instance, the share of clients identifying financing as a challenge fell from 18 percent in 2009 to roughly 10 percent in 2015. This probably reflects changes in credit becoming more available and the fact that many firms have cleaned up their balance sheets. The declining share of clients saying that growth is an important challenge (even though more than half the clients still cite it as important even now) may likely reflect the uptick in manufacturing activity. The share of clients reporting sustainability fell by 5 percentage points, while the share of clients reporting exporting only fell slightly.
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World Trade Center of Greater Philadelphia News
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