The world around us is shifting in terms of the economy and our markets are not doubt-ably out of question. What is questionable is how we address the challenges that faces us, it is too easy to bunker down and take a month by month view of the situation.
However this would not be the most opportune approach to managing during tough times. It is appropriate to let strategic thinking propel your actions as opposed to fear. LET’S BE REAL ABOUT RECESSION…Let’s think strategic business during both recession and depression periods.
Too often long-term goals or even sustainability is sacrificed for short-term survival or gain. To take the action to keep the doors open now, only to close down in twelve months time, doesn’t make sense.
A strategic approach would be to address immediate issues, together with long-term concerns, so that the two action plans are implemented simultaneously. Don’t let fear propel your actions, remember that an economy under pressure does not necessarily mean financial difficulties for every organization. In some cases it can mean assured growth, especially in market shares for some lines.
What I want to simply put across is, if in survival mode a company has to take the necessary measures quickly and decisively in order to ensure that the immediate pressing needs during recession are met, with regard to existing capital and the present Market base based on the current customers in relation to potential clients. BE REAL and SMART DURING THOSE TOUGH TIMES.