What should you do when in Recession?
How to Create the right Recession Strategy?
Maybe, more than anytime else, Recession is the time for the companies to be true to their Vision, get more focused on fulfilling their mission and dedicatedly honour their core values.
This is the time, when the companies and their top management are tested by the employees, customers and all stake holders.
Are they visionaries or are they just another bunch of opportunists?
Do they really have a Vision or they have a Vision Statement as a good PR exercise.
What are their Real Core Values? or are there any core values at all, except self preservation and survival.
The difference between great companies, visionary companies and ordinary companies is very vividly visible in the way they deal with the challenging times like Recession.
This is where the rubber meets the road. This is where the CEO and the board have to walk their talk.
Do all those hours spent in the vision mission exercises mean anything? OR the vision the first casualty of the recession.
What is the value of the Core Values created by the top management, investing some huge amount of man hours and a great amount to time and money?
All the companies, who will dump their vision and their core values at this time, are being short sighted.
Next Quarter, next financial year, when you would have survived the tough times, when you look back at those people, will you be able to talk big? will you be able to get everyone aligned on any big vision?
How do you honour your values and fulfill your vision – when you are worried about going down?
That is the time, more than any other time in your life, to honour your values and be true to your vision.
This is what differentiates the originals from the fake, the men from the boys, the winners from the also rans.
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