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Why The Trucking Industry Is The Lifeblood Of The U.s. Economy

Decent Essays

This assignment provides an opportunity for me to analyze relevant leadership concerns for an increasingly global future and commit to an emerging leadership theory that is appropriate to guide enactment of my leadership agenda.
The trucking industry is the lifeblood of the U.S. economy. Nearly 70% of all the freight tonnage moved in the U.S. goes on trucks. Without the industry and our truck drivers, the economy would come to a standstill. To move 9.2 billion tons of freight annually requires nearly 3 million heavy-duty Class 8 trucks and over 3 million truck drivers. It also takes over 37 billion gallons of diesel fuel to move all of that freight. Simply – without trucks, America stops. (trucking.org)
Some of today’s key challenges in …show more content…

• Operational excellence. Many industry players are facing strong competitive pressure, so cost leadership is another key to success.
• Service innovation. Customers are open to increasingly outsourcing supply chain and logistics activities to third parties. Flexible and innovative solutions are highly important to gain and retain profitable market share.
• Regulation and deregulation. Parts of the industry, like postal service operators in Europe, for example, have been facing strong deregulation. Other industry segments are also being seen as strategically important for governments and face regulation or protection.
• IT. Running global networks with standardized, cost efficient and innovative services is only possible via state-of-the-art IT platforms. The industry is currently investing heavily in this area.
The global markets become increasingly interconnected and economic dynamics change, companies offering supply chain and logistics services are finding themselves facing multiple challenges and opportunities. Through the increasing integration of global labor markets, companies now have access to massive amounts of talent streams that were once not possible to obtain. However tapping into these talent streams is only possible through a global leadership strategy where the organization has global leaders with a high IQ and global management (Gardner, 2007).
Today 's global business leaders must adopt decision-making techniques that are almost algorithmic

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