There are certain things that management should consider to better develop strategic objectives in a recession:
- Establish the strategic objectives for the company to become better but offering something unique. Providing a service and / or unique product that would enable a market position to be achieved.
- Make sure that when you set goals in changing circumstances, you are responding to a real change. And they are achievable with the means that are available.
- Check everything that is done to make it faster and for less cost, while exploring newer markets products or services.
- Never stop funding the pillars of the company, whether customer service, innovation, employee training, etc..
- Priority must be given to the team. You have to work to achieve an involved and committed team. Employees can be motivated to work hard to avoid layoffs. However, you need to ensure that they are being encouraged to work on the right things and for something more than fear of losing their jobs.
- Identify and motivate personnel key to the company. Without people, there are no companies, and in times of crisis, be sure to identify the key team that must be retained at all costs, motivate them and encourage them to work as a team. It is a differential value.
- Thoroughly monitor Finance and Cash & Banks, to avoid difficulties in the management of operational needs.
- Establish alliances whenever they bring something to us and avoiding alliances with much larger partners who may end up dominating