Renaud

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Dear Reader: There is a lot of fear and uncertainty about today’s financial crisis yet no one is really offering tangible help on How to survive.

Step 5: Over Communicate!
I tell my Romanian staff, ‘you will never get in trouble by over-communicating’. In other words making sure they sufficiently communicate with their peers, subordinates and customers rather than not communicating enough. Culturally speaking inter-peer communications is not understood as a pre-requisite for the job in Romania but its changing.
As a leader [...]

Step 4: Perfect time to Plan !
Ok so you now know that some companies do better during recessions and you have executed a thorough cost cutting exercise with your staff. By this time you probably agree with me that the economy will turn around. Now what?
Answer: Plan. Plan to be ready when the market does [...]

Step 3: Cut costs with a scalpel, not a chainsaw!
On a recent trip to Canada to compare economic news I was impressed by a recent article in Fortune magazine (December 15, 2008) where they ask 3 experts on how to cut costs during a recession. The experts were: An executive of a low cost airline, [...]

Step 2: Remember that some business can do well during a recession!
It’s normal to think that all businesses have difficulty during economic periods like these - not so. In fact some businesses do better. Let’s consider a few examples:
Candy:
It is a known fact that candy business is likely to fare better than other nonessentials [...]

Step1: Stop talking about it!
‘What comes up must come down’. This sounds like a terrible cliché but it’s true. Romania has witnessed spectacular growth and it seemed unstoppable. When I was reminded that in July the Romania’s GDP growth was 7.9% and 6 % for 2006 and 2007 respectively and ARIS is forecasting a growth [...]