This week General Motors announced that they would be closing three plants in North America. Why? Because of escalating gas prices.
To those unfamiliar with the auto industry, this may seem like a no-brainer. But for those who have watched in dismay as The Big Three tried to spin slipping market share as cyclical and inflexible production processes as necessary, this is a turning point. Simply acknowledging that they don’t have a strong enough product mix for changing consumer demands may not completely turn the tide, but reacting quickly to market conditions is a new business model for our hometown car companies.
I’m a fan of public relations and marketing plans because I believe they provide an important road map and measurable goals. But, like GM, we should remain flexible and adaptable to the changing business environment and economy — or risk someone blogging about us just because we didn’t hide our heads in the sand.