Business growth opportunities in a slowing economy
Posted: Wed Dec 18, 2024 8:53 am
In this article we tell you how to deal with an economic slowdown, as well as the situation that comes after.
Any change in the economic situation is a test of the credibility of a business project.
The transition from one phase to another is consolidated through negotiations with different parties. We show you how!
We do not yet know whether the expression economic slowdown will best describe the economic outlook for the coming months. There are decisive factors in the environment whose evolution is difficult to predict.
However, it seems that the scenario of economic slowdown is a reasonable possibility for the immediate future, of a few weeks or months. Therefore, it is worth getting down to work in different directions.
Start of marked hange dominican republic email list in the economic climate is a challenge for any business. Would you know how to deal with it? Take note of these tips.End of marked text
From economic slowdown to transition
In principle, the term economic slowdown is used to describe a situation in which growth continues, but at an increasingly slower rate. The key question is what comes next . We might think that there comes a point at which growth stops or we even enter an openly critical situation. Or perhaps, after a time, we reach a turning point and begin to grow more and more vigorously.
Now, you don't know exactly what will happen, but you do have to make decisions . And what is certain is that the measures you take will not be as valid if the next phase is one of recovery as if it is one of crisis.
Since no one can know with sufficient accuracy what the environment will be like in a few quarters, it is necessary to work out several scenarios in advance.
Typically, given the scenarios, you make decisions based on some criteria . To give some examples:
Adjust your business so that, when opportunities arise, you are in the best position to take advantage of them.
Prepare the company to minimize losses in the most adverse scenario.
Find your resource configuration that is as flexible as possible.
Whatever your criteria, it is likely that, with the arrival of the situation that follows the economic slowdown, your company will need to make adjustments . Therefore, it is advisable that you think about the transition between both phases from now on .
To achieve this, you need to analyse what the consequences of your decisions might be in different areas and scenarios . You will have to think about financing, investment, marketing, procurement, processes, people management, etc. measures. And you will have to visualise how all the pieces of the intended transition would fit together with different gradations of both prosperous and crisis situations.
Any change in the economic situation is a test of the credibility of a business project.
The transition from one phase to another is consolidated through negotiations with different parties. We show you how!
We do not yet know whether the expression economic slowdown will best describe the economic outlook for the coming months. There are decisive factors in the environment whose evolution is difficult to predict.
However, it seems that the scenario of economic slowdown is a reasonable possibility for the immediate future, of a few weeks or months. Therefore, it is worth getting down to work in different directions.
Start of marked hange dominican republic email list in the economic climate is a challenge for any business. Would you know how to deal with it? Take note of these tips.End of marked text
From economic slowdown to transition
In principle, the term economic slowdown is used to describe a situation in which growth continues, but at an increasingly slower rate. The key question is what comes next . We might think that there comes a point at which growth stops or we even enter an openly critical situation. Or perhaps, after a time, we reach a turning point and begin to grow more and more vigorously.
Now, you don't know exactly what will happen, but you do have to make decisions . And what is certain is that the measures you take will not be as valid if the next phase is one of recovery as if it is one of crisis.
Since no one can know with sufficient accuracy what the environment will be like in a few quarters, it is necessary to work out several scenarios in advance.
Typically, given the scenarios, you make decisions based on some criteria . To give some examples:
Adjust your business so that, when opportunities arise, you are in the best position to take advantage of them.
Prepare the company to minimize losses in the most adverse scenario.
Find your resource configuration that is as flexible as possible.
Whatever your criteria, it is likely that, with the arrival of the situation that follows the economic slowdown, your company will need to make adjustments . Therefore, it is advisable that you think about the transition between both phases from now on .
To achieve this, you need to analyse what the consequences of your decisions might be in different areas and scenarios . You will have to think about financing, investment, marketing, procurement, processes, people management, etc. measures. And you will have to visualise how all the pieces of the intended transition would fit together with different gradations of both prosperous and crisis situations.