Wednesday, November 17, 201011am-12pm ET It's a decision manufacturers face everyday – diversify or fade away. The proof…more than half of the companies on the 1990 Fortune 500 list are no longer on it today. Outsourcing, a poor economy, and market cyclicality can have a devastating impact on undiversified manufacturers. This webinar will discuss proven strategies manufacturers can utilize to diversify their business, focusing on customer, market and product diversification. This session will address diversification issues from both a small business and large corporate perspective.Panelists will cover: • Why voice of the customer (VOC) must be conducted prior to creating your diversification strategy• The difference between horizontal and vertical diversification, and pros/ cons of each method• How operational economies of scale can be created through product and market differentiation• Why your largest customer may be your greatest liability The session will be moderated by Dustin Klein, executive editor, Smart Business. Presenters include Joe McAleese, president and chief executive officer, Bendix Commercial Vehicle Systems LLC and Michael Araten, president and chief executive officer, K'NEX Brands, L.P.Joe McAleese Joe McAleese is president and chief executive officer of Bendix Commercial Vehicle Systems LLC (BCVS). With headquarters in Elyria, Ohio, Bendix is a member of the Munich, Germany-based Knorr-Bremse group, the leading worldwide supplier of pneumatic braking and related safety systems for commercial vehicle and railroad applications.A seasoned executive with diverse industry experience, McAleese has enjoyed a strong 25 year career at Bendix and Honeywell / AlliedSignal (owners of Bendix prior to January 2002).In addition to his role at Bendix, McAleese is vice chairman of the board of governors for HDMA (Heavy Duty Manufacturers Association), and a board member of the Motor and Equipment Manufacturers Association (MEMA). He also participates on the Bowling Green State University International Business Advisory Board and the Lorain Community College Foundation Board. McAleese holds a Bachelor of Science degree in accounting and a Master of Accountancy degree, both from Bowling Green State University in Ohio. Michael Araten Michael Araten is the president and cheif executive officer of K’NEX Brands, L.P. K’NEX Brands has two primary business units: K’NEX and The Rodon Group. K’NEX is a toy manufacturing, marketing, design and distribution company. The Rodon Group is a highly automated plastics injection molder with a focus on small parts used in more than 100 industries. Araten joined K’NEX and The Rodon Group in May 2005. He became President and CEO in 2009, and is responsible for all strategic and day-to-day operations of the company. He is also a member of the K’NEX Board of Directors. Araten serves on several corporate and non-profit boards, including ALMO Corporation, Drexel Metals, 911Safety, LLC, The Please Touch Museum of Philadelphia, the Delaware Valley Chapter of the Crohn’s and Colitis Foundation of America and Save an American Job, LLC. Mr. Araten holds a Bachelor of Arts degree in Political Science from Stanford University, and a Juris Doctorate degree from the University of Pennsylvania.
