Economic Crisis - Challenges Ahead
Below coded Object, one of the many in Outsights Knoweledge-Database , is shared with the readers of this homepage as many are suffering from the present economic crisis in Asian region.
Goal:
What focus and strategies in time of economic crisis, chaos and high competition?
Facts:
- Personal Coach & Organisation Coach
- Coaching Principles
- Business Survival
- Creativity and Synergy
Symptoms
- The newly appointed CEO of an engineering service / consultancy company is taking charge of "turning the company around".
- The CEO has much experiences in the particular industry that he is currently handling.
- Due to the currency problem, raw materials costs increases incredibly.
- New corporate management's strategy of going for volume sales at low margins for the past one year-plus, is to continue.
- It will be a very difficult task in view of economic situation and with Bankers refusing to lend out any more money.
- To make matters more difficult, Corporate also has no money to lend to their subsidiaries!
- Planning in place in re-activating old efforts to promote certain type of engineering consultancy services.
- I am spending more time on marketing, cutting cost in-house, and trying to find funds to run the business.
Cause
- Strategies formulated : "shrink" internally, expand externally, lubricated by fund to be found.
Fixes
- In time of economic slowdown in the whole of Asian region, the strategies set forth are commonly adopted by many, hence with highly competitive climate further set in motion. Then "Survival of the fittest" is the governing rule. It will be a stressful and uphill task for many.
- The Concept of Creativity and Synergy may not yet be fully explored and thus strategised. In time of turmoil and chaos, old approaches that work well may be copied many times by many competitors. A totally new approach, new way of doing things with creative ideas from all the stakeholders may be a promising arena to take off as springboard.
- Coaching Principles : Creativity, Synergy and Teamwork can be put into real test of human capacity and intelligence especially in time of chaos and crisis.
Refer Personal Coach & Organisation Coach
More coded Objects on application of the concept of "Creativity and Synergy" in the context of the crisis and difficulties for creation of opportunities in Outsights Knoweledge-Database. Any knowledge / wisdom gained will again be shared with the readers of this homepage.
End.
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By Andrew Wong, 15th April.1998
COPYRIGHT @ 1998
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