Recession and Crisis Threat or an Opportunity? II
Obviously, to exploit these opportunities, you should get into this situation with a well designed plan and enough money to run it.
Why do not more organizations take advantage of the opportunities offered recession?
Many times it is a problem of attitude and vision. Many managers and entrepreneurs associated with periods of recession as a punishment and assume that the organization should be along the lines of other companies.
Therefore begin to cut costs indiscriminately to “not lose too much” leading the organization to problematic situations in the long term. Thinking in the short term but can be a “natural” attitude is not the most appropriate. Jack Welch, famous former General Electric executive, says “managing an organization thinking about the short and long term is very complicated. Few companies are able to do it.”
Therefore, a key element is to address the recession as an opportunity and not as a punishment, preparing for when you get the positive cycle.
There are already many organizations that understand this. According to a Price Waterhouse Coopers study in Europe, CEOs have sought to preserve those important activities for the future of business: 84% claims to have cut its budget for R & D, 72% had not lowered its costs of expansion and 77% say they have closed factories or offices. 53% say they have opted to adjust the size of their companies downsizing and outsourcing those functions less important for the company.