Riding out tariff turmoil takes more than watching the balance sheet.

I took a few economics courses in college, but I’m no Adam Smith. And I have predicted the future reasonably accurately, but no one would mistake me for a prophet. What I do understand, however, after nearly 50 years in manufacturing, most spent as a corporate president, is the impact of costs on profitability. More specifically, the impact of dramatic and unpredictable rising costs on a business’s ability to thrive, survive or founder.

Cost accountants typically separate expenses into two overall buckets: fixed costs and variable costs. Fixed costs may include items such as insurance, occupancy, benefits and so on. Variable costs include materials, supplies, labor, etc. Within a couple of years in manufacturing, however, I realized that in the real world only a small portion of costs are fixed, and the majority are truly variable. While all costs must be watched, monitored and managed, variable costs are the ones that make or break a balance sheet and income statement.

Navigating change in tech isn’t just about tools.

Research & development drives new technology, and new technology development fuels the lifeblood of technology, industrial and consumer companies. Without product development there is no “new!” As an essential technology industry, electronics showcases how amazing, productive and cost-effective new technologies get developed, refined and launched so all industries can leverage and integrate these advancements into their versions of “new.”