How to plan ahead for hard times in business
Adeleke, Taiwo Adekunle (2011)
Adeleke, Taiwo Adekunle
Mikkelin ammattikorkeakoulu
2011
All rights reserved
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2011111514581
https://urn.fi/URN:NBN:fi:amk-2011111514581
Tiivistelmä
The topic was actually picked to device or proffer effective solution on how to deal with or tackle hard times when one is about to establish a business. However, I discovered that man-agement seems to over look the issue of hard times in day to day running of a business.
They should remember that the only thing that will aid and assist a business to forge ahead is when there are proper and adequate strategies. These strategies must be followed incessantly in order to overcome any eventuality of hard times during the course of the business.
More so, if there are good decisions in place; hard times should not be see or view as a threat but rather as a prospect to explore the market and do what is right according to the manage-ment decisions in order to achieve unbeatable success.
Nevertheless, management decisions can mar or build the company, so, that is why their decisions must be a perfect one for them to scale through the hard times. This also boiled down to the issue of effective Leaders, if the leaders are well qualified Leaders their decisions should be able to penetrate and have effective and efficient impact on the hard times so that it will not have negative effect on the company.
During the hard times the company must make sure that they have mutual relationship with their potential customers more than ever before because this relationship will not allow them to shift focus, by changing their taste for a lesser product during hard times. But if their relation-ship is cordial it will be difficult for them to lose all their customers. Though few might want to shift focus because of market trend and threat to their turnover.
We are living in the most challenging times for business and economics that we have experienced in our lifetimes. It is only the fit businesses that will survive the challenges
They should remember that the only thing that will aid and assist a business to forge ahead is when there are proper and adequate strategies. These strategies must be followed incessantly in order to overcome any eventuality of hard times during the course of the business.
More so, if there are good decisions in place; hard times should not be see or view as a threat but rather as a prospect to explore the market and do what is right according to the manage-ment decisions in order to achieve unbeatable success.
Nevertheless, management decisions can mar or build the company, so, that is why their decisions must be a perfect one for them to scale through the hard times. This also boiled down to the issue of effective Leaders, if the leaders are well qualified Leaders their decisions should be able to penetrate and have effective and efficient impact on the hard times so that it will not have negative effect on the company.
During the hard times the company must make sure that they have mutual relationship with their potential customers more than ever before because this relationship will not allow them to shift focus, by changing their taste for a lesser product during hard times. But if their relation-ship is cordial it will be difficult for them to lose all their customers. Though few might want to shift focus because of market trend and threat to their turnover.
We are living in the most challenging times for business and economics that we have experienced in our lifetimes. It is only the fit businesses that will survive the challenges