Some sectors, such as housing and banking, have had major slowdowns. We're luckier than most in that, while people don't have to buy a new house, they do have to buy food. Food isn't optional but the amount and quality of food is and that's where the price-value relationship takes over. Stakeholders are still looking for huge increases even though economic indicators tell us that sales are flat and that any growth should be applauded. If you accept that as a premise, then sit back and relax, because, as Betty Davis once said, "It's going to be a bumpy ride."

In the past, slow sales meant it was time to do a SWOT analysis or circle the wagons. SWOT stood for Strength, Weaknesses, Opportunities, and Threats. That's old thinking. The new thinking is SWOC which stands for Strength, Weaknesses, Opportunities, and Challenges. That's right, Challenges. Some of the challenges we're faced with as an industry include attracting, and more importantly, keeping, good employees. Another challenge is tracking product efficiently. Whether it's data mining, e-commerce, or product recall and food safety, we have to be able to identify and track perishable products just like CPG.

When it comes to business, you can grow it or you can steal it. Whether you're growing your market or stealing market share from the competition, it boils down to share of market and market penetration. Join Rick Goodman, Senior VP, Smithfield, as he shares insights and ideas to help you pull back from the edge.