In this keynote session at the 2010 IW Best Plants Conference, Timken Co. CEO James Griffith said globalization has become a bad word perpetuated by the media and politicians seeking protectionist policies that ultimately stifle innovation and hurt domestic industrial strength.
Hear how The Timken Company has reshaped its portfolio for profitable growth. In recent years the company has accelerated a strategy to pursue a more diversified mix of industrial markets, focusing on demanding customer applications where it can bring the most value in improving energy efficiency, reliability and safety. Through its bearings and power transmission business and steel business, the company has expanded into new products, markets and geographies and is poised to emerge from this economic recession stronger than ever.
In This Presentation You Will See
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Griffith's view of the state of manufacturing and how he believes manufacturing is misinterpreted by the public (in minute 3)
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How successful companies leverage the global economy (in minute 11)
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How Timken reoriented production from a century of tradition into areas that will compete in the global economy -- moving from defense to offense (in minute 18)
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The productivity explosion in manufacturing (in minute 21)
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The two things Griffith's wants every manufacturing leader to do (in minute 23)
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Griffith's response to a question on his opinion of the current state of the U.S. auto industry (in minute 26)
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Griffith's response to a question on growth opportunities in India and Asia for the the U.S. Steel industry (in minute 29)
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Griffith's response to a question on what keeps him awake at night politically (in minute 31)
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Griffith's response to a question on what the responsibility of both consumers and manufacturers in terms of determining what contries and locations to buy goods and services from (in minute 34)
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Griffith's response to a question on how manufacturers need to promote manufacturing in the public sphere (in minute 40)
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and more
About the Speaker
Since being named president in 1999, Griffith has led a transformation of The Timken Company focused on creating ever-increasing levels of value for customers and shareholders. By harnessing its legendary quality and industry-leading innovation, Timken has pushed beyond its historic leadership in the tapered roller bearing market into a vast global market for technologies to manage the friction generated by moving parts and improve the transmission of power in a wide array of machines.
Griffith joined The Timken Company in 1984 and has held positions as plant manager, vice president of manufacturing in North America and managing director of the company's business in Australia. From 1996 to 1999, he led Timken's automotive business in North America and the company's bearing business activities in Asia and Latin America. He was elected president, chief operating officer and director in 1999 and was named chief executive officer in 2002.
Griffith is vice president of the World Bearing Association. He is a member of the Management Executives' Society and serves on the boards of directors of the U.S.-China Business Council, Goodrich Corporation (NYSE: GR) and the Manufacturing Advocacy and Growth Network (MAGNET). He also serves on the board of Mount Union College.
Griffith holds a bachelor's degree in industrial engineering and a Master of Business Administration from Stanford University.
