Posts Tagged Crisis
How managing company in time of crisis (Just Opinion)
Posted by Admin in Management on March 10, 2010
We consider that the purpose of planning is to achieve long term goals in business, developing strategies and managing resources to carry out these strategies
That is, it really all managers responsible for business development managers as well as new paths and business models have to do is understand and become familiar with the market situation, being aware of as it is and within that framework to try distance itself from its competitors with innovative products and quality.
Finally we could not target the 10 points of how to manage a company in times of crisis and comment that I think are more important. The 10 are:
- Never give up the failures
- Having a proper strategic planning
- Avoid risky operations
- Adapting to market
- Troubleshoot root
- Standing out from the competition
- International projection
- Know who is boss
- Internet and new technologies
- Dispense with statistics
We especially highlight 3 of these points: avoiding risky operations, as an easy way in difficult times do not have a strong rebuke when necessary may be more money lost, apart from competitors, is critical to create a brand image also help your company that is the basis of your international renown such as the perfect example of Apple company, and supporting Internet and new streaming technology as a basic form of development and to some extent business model.
On this last point could be measured companies from various points of view: as investors in the ICT sector as generating business in the sector or simply enlargers its services through the Internet and new technologies.
In short, run a company right now is very simple, but always has to find the relationship between need and what can we as a company to cover. If we find out we will have a large market share in our favor and so we can get our products out below.
What is stagflation?
If any of you hear the news few weeks ago, it said the United States is going through a crisis caused by the “stagflation” and said what is that? So I gave myself the task of investigating and this is what I found.
Stagflation indicates the time or economic conditions that, in an inflationary situation there is a stagnation of the economy and the pace of inflation low.
This term was created in 1965 by Ian Mc Leod British Prime Minister who in a speech said “We now have the worst of both worlds: not just inflation on one side or stagnation on the other, we have something like stagflation.”
Stagflation is characterized by both higher prices, increased unemployment and economic stagnation, crises or even entering a recession. It is said that a recession when the national income declines for two consecutive quarters.
Stagflation is considered one of the worst possible economic scenarios for the difficulty of handling and correction, since monetary and fiscal policies that energize recessive economy worsen inflation and restrictive monetary policies that are used to combat inflation tend to deepen recession.
While recessions may have internal or external causes, stagflation is of domestic origin as the component of inflation is always a monetary phenomenon and domestic monetary policy in each country.