From intense global competition and a market-driven shift in workforce deployment to new demands for innovation, industrial and manufacturing companies are taking steps to redefine their market position and drive long-term supplier relationships with especially discerning clients whose focus is squarely on value. So just how are leading industrial and manufacturing companies addressing the mounting pressures on their bottom-lines Are there any strategic courses they might take to avoid a commodity-driven race to the bottom of the pricing wars

Large companies that are mainly financially driven are continuing to embrace six sigma and similar performance management techniques that support their commitment to very high operational excellence. They’re using their good cash flow to grow via acquisitions of younger, organically growing, innovative and creative companies. The most successful route to future growth comes by focusing on certain customers’ needs and by addressing them better than anybody else, thus being able to charge for the value provided with little price competition, as demonstrated by the so-called hidden champions. But some of these market innovators are not as hidden as they once were. Some have grown quite large because of their ability to bring innovative solutions to their customers top challenges. » Read more: Leadership Perspectives on Industrial and Manufacturing Market Shifts