Business Tips for a recession and crisis
The economic cycle is changing and companies must take care to workers and be more productive to address the new year. Gabriel Villarrubia, Managing partner of business performance of services KPMGProposes several measures:
1. As a starting point, review and adjust the calendar year. It should prioritize and choose the projects most useful in terms of economic viability, social responsibility position.
2. Focus on what it can do better. Leadership products and services, uniqueness or innovation, good customer management, cost efficiency … must be good at all but to improve competitiveness is need to further strengthen the strengths of the organization.
3. Markedly different from that of everyday innovation: finding new and better ways of working. It is not only to make large investments in R & D, but to think differently and be constantly generating good ideas regarding the management of labor.
4. Restructure and flexible fixed costs. To do this, by introducing Cost reduction programs is key to correctly identify where and how to make a reduction of costs and how they can modify the cost without deterioration of management.
5. Increase asset productivity. Organizations need to optimize their assets and find them the most. To do this we must analyze the situation and eliminate non-performing assets or those which are insufficiently productive.
6. Adopt a conservative attitude on the finances. Avoid aggressive financial management and investments. The market will become volatile and credit, currency markets and the overall economic situation is more expensive.
7. Identify and motivate key managers for the company. Without people, there are companies, and in times of crisis, inescapably identify the key management team has to retain at all costs, encourage him and teamwork. It is a differential value.
8. Extend and expand markets. Although it seems a contradiction, the hard times to help companies find new market segments that would otherwise not seek or are forced to pass once the expansion projects that often postponed. If the target market narrows, we must immediately expand.
9. Build social profitability and sustainability. We must integrate the three pillars of current development organizations: economic growth, social progress and environmental aspects. This should create opportunities for professionals to develop their skills and attitudes of the most effective way possible. A long-term vision is key to achieving this goal.
10. Have a positive thought and think the best is yet to come. Times of crisis generate new opportunities for those who are able to work and better position themselves and for those who are able to anticipate and have acted accordingly.