Haulage firms 'over-confident' about their economic future
Date: 11 February 2008
Firms including haulage companies are over-confident about their ability to deal with an economic downturn, according to research by the Chartered Management Institute (CMI).
Less than a third (32 per cent) of firms in transport and logistics, such as road haulage companies, believe that managing risk is their most important concern, and just over half (51 per cent) think that developing skills is urgent.
This is a worry for the haulage industry because it is currently suffering from a growing lack of skills, and freight firms need to ensure they are prepared for the future.
At the current time, UK companies of all kinds, including road haulage firms, are facing what the British Chambers of Commerce describes as "worsening economic prospects" brought about by the credit and banking crisis.
Across the economy as a whole, only 38 per cent of firms believe that "prioritising the reputation" of their company is important for long-term business success.
Jo Causon, director of marketing and corporate affairs at the CIM, said: "Questions need to be asked about how UK organisations will be able to manage in the future, if they fail to address key operational issues.
"Rather than simply focusing on 'what should be done today' the inability to plan properly might lead to questions of a more critical nature: 'what opportunities have I missed?' or worse, 'how did the organisation not see that coming?'."
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