Recession is an opportunity. Emerge stronger.
(5 votes, average: 4.6 out of 5)
Loading ...A few weeks earlier, I was at the NASSCOM India Leadership Forum, and had the opportunity to hear the doyens of the industry speak and share their outlook for the industry and the economy in general. Though the mood appeared up-beat, the forecasts weren’t too great and the under currents of recession were felt by everybody.
That said, recession is not always a bad thing, it gives the required jolt to the economy to cut the flab and create efficiencies. Maximize your resources, improve synergies and reduce your discretionary costs. However, that doesn’t mean you throttle your business with the cost reductions, instead channelize your resources or money into new opportunities. Intel for instance uses the downturn or the troughs in the business cycle to setup chip manufacturing units (”Fabs”, as they call it), as the costs are at an all time low. The same goes for new business acquisitions, as their valuations are lower and attractive in these times.
It is also time to revaluate your markets, your consumers, understand where the lacuna exists and foray into new avenues of business and opportunities. I know of companies hosting an action committee or a shadow board and whose objective is to help the company weather recession, and identify business opportunities.
The state, industrial federations and associations (like NASSCOM), also play an important role in boosting the morale and providing the necessary tools and sops to companies. In these times best practices and success stories should be shared with the community, and not held close to the heart. It is not uncommon for bad news, and the woes of the economy to get highlighted, and the cynics will continue to lambast the status quo. We need to look beyond the few black dots on a white paper, and focus on the stories and news of resilience and successes. If recession is the collapse of our economic system, the accumulated small successes can be the resurrection.
I’m tempted to use a popular aphorism; The Chinese character for “Crisis” represents two symbols “Danger” and “Opportunity“. The choice is ours.
Related posts
- Being Creative: Or how to ride out the global recession Unless you have been hiding under a rock, you would...
- Those 3 great days at NILF 2009….. I had a blast attending the NASSCOM India Leadership forum...
- Winning in a Recession – Lessons from Previous Downturns (Friday’s 2.0 – 43rd Session) With this aptly timed session in today's market scenario,...
- Surviving the Recession As the US Recession looms like a dark cloud over...
- Dealing with the Recession – what you could do, other than worry The sentiment, as the say in stock market parlance, is...
If you enjoyed this post, please consider to leave a comment or subscribe to the feed and get future articles delivered to your feed reader.
Comments
No comments yet.
Leave a comment