Business leaders talk trends
GIBSONIA — Western Pennsylvania's economy is evolving at a rapid pace and it's up to business leaders to adapt to the winds of change.
That was the message Friday of seven chief executive officers at St. Barnabas' annual CEO Leadership Conference.
The annual conference brings together leaders in industry who talk about the regional economy and the changes within it.
Hundreds of business leaders packed the Kean Theater on St. Barnabas' campus to hear the speakers talk about the “Winds of Change” in the regional economy, which was the theme of the conference.
Rob Cochran, the president and CEO of the #1 Cochran Automotive group, described how he retooled the business model of his company about 15 months ago, a process that involved moving away from hard sales tactics and into more customer-oriented service.
The pace of change in the economy has never been more dramatic than now, Cochran said, and it's up to business leaders to adapt or be left behind.
Cochran adapted by telling his sales team to move away from the “lone wolf” approach of individual salespeople used in car dealerships across the country and instead embraced a team approach centered around customer service.
Business leaders must have the courage to move away from “old, tired practices” to adapt to change, he said. Cochran said he's glad he did just that because the past 15 months have seen unprecedented growth in his company.
And it's all because he adapted and put people around him who held similar values.“It always starts with the people you put around you and the culture you want to build,” he said.Louie Sheetz, a member of the board of directors for Sheetz Inc., also talked.Sheetz' older brother Bob founded the company 62 years ago, a company that started out as a dairy shop in Altoona.It has completely morphed its business model since then, becoming a leader in the gas, convenience and fast food industry.Sheetz has grown into a company with 478 stores in six states that employs more than 15,000 people. Louie Sheetz said each individual store averages more than $40,000 a week in sales.For Sheetz, the recipe for success with his company was simple. The hierarchy of company leadership includes 81 members of the Sheetz family who provide a solid backbone, but the ideas for innovation and adaptation often come from outsiders who are recruited to come into the company.Each family member has to prove his worth and earn his way before being given a leadership position, while outsiders with undeniable talent are often aggressively recruited to fill out positions.The business model is working, he said, but it is one that has always been immune to the winds of change because of how strong it is.“Family values are the best competitive advantage you can bring to your company,” he said.Other speakers included Joseph Massaro III, the president and CEO of Massaro Construction Group, and Jeff Broadhurst, the president and CEO of Eat'n Park Hospitality Group.William Day, president of the St. Barnabas Health System, said the conference is one of the most important events sponsored by St. Barnabas if only because it brings people together to have intelligent debate on the trends in Western Pennsylvania's economy.
