The natural inclination of business leaders during an economic downturn is to cut people, programs and reorganize. Examples of this are in the newspapers and web sites daily: Alcatel-Lucent, AOL, Sprint, the airlines, Dell, Discovery Communications and many other companies plus countless medium and small business which never hit the media. There are alternatives to cutting and pulling back during an economic downturn.
Six tips from George F. Franks
While economic downturns are admittedly difficult, and are formidable obstacles to small businesses that are trying to survive and grow, an economic downturn can open up opportunities. A well-managed company can realize the opportunity to gain market share by taking customers away from their competitors. Resourceful entrepreneurs capture the available opportunities, from an economic downturn, by developing alternate methods of doing business that were never implemented during a prior growth period
Setting goal, objectives, and implementing required Actions: By Terry H. Hill
