What Next??
The current crisis is forcing management to concentrate on managing their day-to-day business as we all focus on surviving. One day, things will turn (quite when that will be is anyone's guess), and when they do, will you be ready?The companies who succeed will the those where management are looking to the future now. They will be asking:
How has our industry sector changed and how will it change as a result of the crisis?
Has it thrown up new barriers to entry or broken down existing ones?
What effects has the crisis had on our existing competition?
Has the crisis thrown up new competition?
Has the crisis opened up opportunities that weren't previously there where we can compete?
How has it impacted our buyers/suppliers?
Are there new buyers/suppliers out there now?
How do we get to them?
What do we need to do to prepare for these opportunities (people, training, systems, investment in fixed assets)?
Will we need additional finance (and how do we get it)?
Those willing to see the opportunity in this time of crisis, to ask these questions now and to will be not only the beneficiaries of the next recovery, but most likely its leaders.
Labels: Strategy
posted by William Martin @ 22:14
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