Growing in an Economic Downturn
During an
economic downturn organizations have to do more with less. Companies tend to
tighten budgets, cut staff, reduce services, decrease quality, contain negative
output gaps (spare capacity), minimize effects of rising inflation, manage
confidence and investments – but there is an alternative. There are ways for
companies to grow, smartly invest and to emerge from a downturn stronger than
their competition. As basic as it may sound, an organization’s ability to grow
from a downturn lies in its business processes and operational decisions,
driven by a company’s business mission and objectives.
