2009-07-21
In the recession, it is important for all companies to focus on the selling. With the right sales resources and sales management, opportunities emerge to grow organically and take market shares.
In regards to costs, managers must be brave and stand by the critical costs and know where to draw the line to other types of costs that they do not need. Analyze the margins.
Does the company have the right profitability on the products and services? Invest in the profitable products and phase out those with poor profitability.
Now more than ever are the company's advisers examined. Do you have the right relationships to support yourself in this situation? Is the auditor able to help you with relevant reports that support your decision?
The auditor is one of the key advisers in a company and in companies that do not have a board or external members, the auditor is often the only adviser.
One factor that is easy to forget, although it should be on the top of the agenda, is communication. Be open about your actions. The most important and perhaps most difficult of all is the timing of communication and actions.
The management´s toughest challenge is to manage both the long-term strategic thinking and the necessary daily activities. It is easy to lose the big picture and overview if you get stuck in the necessary concrete action.
As a business manager, you have to make difficult and important decisions. It is important to believe in your ability to decide what is best for the company, but also to seek assistance and relief.