Today's world demands efficiency and competitiveness

The current crises in the German economy, such as those affecting large companies like Volkswagen, give me serious cause for concern. They are clear signals that no company - no matter how established, no matter how strong - is immune to external shocks and internal failures. These developments have once again made it clear to me how important it is to proactively address efficiency and competitiveness. When even industry leaders stumble, it is clear that we also have to keep questioning ourselves. We cannot ignore the signs of changing times, we need to actively respond to them in order to remain successful in the long term.

Over the past 20 years, the development of our economy has almost only known one direction: upwards. With a few exceptions, such as during the financial crisis or the coronavirus pandemic, Germany in particular has experienced a long period of growth with high investments at low capital costs. Efficiency and competitiveness often played a secondary role. In a phase in which resources were apparently unlimited and the economic environment appeared stable, it was easier to attach less importance to these issues. But times have changed radically.

Today, we are confronted with a multitude of crises: Climate change, high capital costs, weak demand, geopolitical uncertainties and enormous technological developments are shaping the markets. In addition, former emerging markets have greatly increased their competitiveness. For us, this means that efficiency and competitiveness are no longer just success factors, but have become a key survival strategy. Only those who adapt, consistently optimize their processes and react flexibly to change will continue to be successful in the future. This applies to the entire business location - and to each individual company.   

Yes, it is important that politics creates the right framework conditions - be it through legislation, infrastructure or funding programs. But we cannot rely on this only. All too often, people just call on politics. 

The truth is: companies have to take responsibility themselves and work internally on their efficiency and competitiveness. This requires tough, sometimes uncomfortable decisions. We can't just point to external factors - in order to be strong for the future, we have to act proactively, optimize processes and strengthen our innovative power. We have it in our own hands.

Digitalization and the use of artificial intelligence are important tools on the way to more efficiency and competitiveness. Today, they offer us opportunities that we could only dream of in the past. Technologies such as automation, big data and AI are not just trends, but indispensable tools for achieving efficiency gains. Companies from countries such as the USA, China and India have already overtaken us in some areas - they are implementing digital solutions at a speed and depth that challenges us. This development shows that we cannot afford to lean back and relax. Those who fall behind technologically will quickly lose touch. Companies that make intelligent use of this progress not only create competitive advantages, but also secure their market position in the long term. Efficiency is hardly conceivable today without technological innovation.   

The hard truth is that cost control and the use of synergy effects are essential components of competitiveness. This aspect has often been neglected in many companies in recent years, but needs to be brought to the fore again. Efficiency does not only mean innovation, but also a clear and targeted optimization of the cost structure and lower sickness rates. All available synergy potential must be exploited - both within the company and in external partnerships. Only those who manage to operate leanly and efficiently will be able to survive the increasingly tough global competition. Cost management is not a luxury, it is a necessity.

Efficiency is more than just technology and cost reduction - it is also about being able to react flexibly and agilely to change. Digitalization and artificial intelligence provide us with tools to act faster and more precisely. At the same time, the use of synergies and cost optimization must go hand in hand with agility. Companies that keep their structures flexible can react more quickly to market changes and crises and adapt to new circumstances. Today, agility is a key factor for efficiency: only those who can react quickly to new challenges and exploit opportunities will remain competitive. This agility must be anchored in our DNA.

We at RENOLIT are also faced with the challenge of continuously developing ourselves and increasing our efficiency. We started on this path at an early stage, proving our resilience even in times of crisis. In recent years, we have focused on technological innovations, exploited synergy and savings potential as well as continuously optimizing our processes. This foresight gives us a solid foundation today. However, we also know that we will continue to be challenged. Future steps may require adjustments that are not always comfortable. But it is exactly this determination to make uncomfortable decisions that ensures our success and allows us to emerge stronger from these times. RENOLIT is in a good position, but it is not taking time to rest.

The global economy is facing far-reaching changes that companies must face with courage. Today, efficiency and competitiveness are not only success factors, but indispensable foundations for survival in a highly competitive market. It is not enough to hope for better framework conditions - companies must set the course internally in order to remain successful in the long term. RENOLIT has already made good progress on this path, but we also know that the work never stops. We will continue to work on our efficiency with determination and openness to new solutions in order to exploit tomorrow's opportunities in the best possible way.