“The worst economic times - the Great Depression - was actually a rich period of management reinvention…Enterprises outperformed competitors and actually grew by excelling in understanding and satisfying customers’ changing needs.”  

 -          Harvard Business Review: Editor’s Blog, June 2008

 

“Companies that delay investments [in current strategy] may forego significant growth opportunities when uncertainty subsides and the economy recovers.”-          The McKinsey Quarterly, December 2008

 

“Stay on course… To chart a course to success in this economic climate, marketers must be confident that their brand compasses are accurate and their goals are clear… Don’t jeopardize your long-term brand strategy when adjusting to the new reality.  When the clouds clear, you need to be ready to compete.
- American Marketing Association: Marketing News, February 2009

At a recent meeting given by the United Way, I was impressed about how the above quotes from the presentation applied to our business. Too much prudence in the current economy may be a miscalculation.  Although the situation in the economy is dreary there are areas of light. 

To be sure this may be the exact time to tighten up your operations and to focus more clearly on the long term strategy - products, customers, suppliers, employee training and so forth.  In order to get the most take a hard look at your systems and procedures to ensure that you can be at top form as the economy brightens and the clouds clear.

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