For the cannabis industry to continue to evolve and establish itself in the mainstream market, employing professionals with mainstream industry experience is vital, according to industry experts gathered at the Benzinga Cannabis Capital Conference.
The sector may have its unique characteristics and regulatory considerations, but the principles and practices that have driven success in other industries are equally applicable.
That's according to Susan Thronson, a board member at Trulieve Cannabis Corp (CSE: TRUL) (OTCQX: TCNNF). The time Thronson spent at Marriott International Inc (NASDAQ: MAR) helped her prepare "for a VUCA environment of volatility, uncertainty, complexity, and adaptation" in cannabis.
However, one of the challenges unique to cannabis is the velocity, Thronson told attendees at Chicago Marriott Downtown on Thursday.
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"Things happen so fast in the landscape that is ever-changing, as we have just learned this week once again," she continued, referencing the Senate Banking Committee approving the Secure and Fair Enforcement Regulation (SAFER) Banking Act on Wednesday.
Michele Roberts, a board ...