After the Crisis

From an article by Saul F. Berman, Richard Christner and Ragna Bell…

In the wake of the recent economic crisis, companies worldwide are scrambling to prepare for growth in an increasingly complex atmosphere. As they seek a trajectory for success in the post-crisis environment, what can organizations do to help them successfully manage uncertainty and complexity and, ultimately, foster growth? We believe the answer involves decisive actions designed to preempt scarcity, drive cost efficiency through productivity and agility, and seek targeted and innovative approaches to revenue growth.

My Thoughts…

It is hard to argue with those sentiments.

However, let me take it one step further. In the wake of the recent economic crisis, management in all companies should be looking for ways to foster growth. They should be looking at this downturn as the time to break out as a market leader. They need to find ways to be more productive and agile. They need to seek innovative approaches to revenue growth.

Preempting scarcity seems like a sound strategy. And, if you want to see a good example, look at Wal-Mart. Their core competency is logistics and they know it. Their revenues have increased in the current economy.

When looking for ways to be more productive and agile, look at your business processes. More efficient business processes will lower costs and leads to increased revenues, and improved customer relationships. It can differentiate you from your competitors. It can be the key that allows your company to break out as the market leader. You could make it your core competency.

‘Innovative approaches to revenue growth’ is about marketing. Apple is a good example. They packaged a data storage device with a clever user interface and some stylish packaging and have sold millions of iPods. I am not sure they understand that their core competency is packaging, but next came the iPhone. Next, the iTV; The iToaster?

What does all this mean? NOW is the time to break out of this economic slump as a market leader – so, step up…

Your Thoughts…

What steps has your company taken to be a market leader?

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