February 17, 2009
Typically companies will focus on:
- Delivering what really matters to customers
- Eliminating all costs that add no or little value to customers
- Selling services previously provided for free
- Increasing efforts to steal customers of competitors
- Improving operational efficiency
- Eliminating inventory payments
- Reducing payments to suppliers
There is some interesting analysis in a thesis report from Carleton University (COMPETITION DURING MARKET MELTDOWNS: THE PERFORMANCE OF TELECOMMUNICATIONS EQUIPMENT SUPPLIERS DURING 2001-2003, by Yanxia Hao, 2004) which suggests that:
“…companies should focus on a narrow range of effective actions to improve company performance during market meltdowns.”
Trackbacks/Pingbacks
[...] this post to get a view of what actions companies typically take in response to an economic [...]
[...] If you have an established business and are wondering what actions you can take to survive and prosper, please take a look at this blog entry. [...]