Tuesday, August 4, 2009

Business management principles in a recession

Effective expenditure controls.

Some call this cost control, but a better approach is to ensure effective spend for the future survival of the business is more important that straight cost cutting.

Future planning.

Understanding of customer needs, trends, innovation, creativity, market demand opportunities, product development all individually or collectively help lay the foundation for the future. Production or service delivery methods may also be changed

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