What do Companies do to Adapt to Economic Meltdowns?

Typically companies will focus on:

  1. Delivering what really matters to customers
  2. Eliminating all costs that add no or little value to customers
  3. Selling services previously provided for free
  4. Increasing efforts to steal customers of competitors
  5. Improving operational efficiency
  6. Eliminating inventory payments
  7. 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.”

 

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2 thoughts on “What do Companies do to Adapt to Economic Meltdowns?

  1. Pingback: What Industries or Businesses Do Well During Recession? « Brian Hurley’s Blog

  2. Pingback: Great Depression Unemployment versus 2009 and the Coming Storm? « Brian Hurley’s Blog

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