Implications: Oil prices may have a direct impact on the consumer who frets about the cost of her/his commute. But energy also impacts the price of anything that is grown, manufactured or shipped… from groceries to home furnishings, from clothing to building materials.
Have you given any thought to how your business will position itself if or when the prices for your goods and services become more expensive? How much of that higher cost will you be able to pass along to the consumer? How much of a price increase will your customers tolerate? Could higher prices in other business make you a contender in new categories of business that you’re not even thinking about now?
The best response to rising energy costs will come from those businesses who saw it coming years before it happened.