Not only do I continue to see more evidence of the "new normal" business environment discussed in last month's issue but, in my discussions with clients and service providers, it's apparent that embracing and understanding how to thrive in the new normal is critical to success. As a reminder, [...]
The business environment has changed and will not "return to normal"; instead, a "new normal" is emerging. The U.S. and the world economy have been in a recession for at least a year, and the media is starting to discuss a slow recovery. Whether the recovery is weak or [...]
There is an immense amount of worrisome facts, figures and stories reported on the news every day. To make matters worse, now that we are connected 24/7 with cell phones, iPods, Facebook, TV, email alerts, etc, there is no escaping - even on vacation. In watching businesses, leaders, friends [...]
The recession continues to seemingly worsen by the day. Businesses are cutting back. Employees are fearful. Foreclosures are rising. And the cycle continues. So, what is a manager or business to do to break this cycle? Minimize Complexity: One of the keys to success is to minimize unnecessary complexity. [...]
In today's economic and business environment, cash is king. The critical importance of cash in businesses continues to rise. One just has to read the news to see cash highlighted on a daily basis in relation to several high profile companies - GM, Chrysler, MGM Mirage, GE Capital etc. [...]
Businesses continue to cut back as the economy continues to worsen - seemingly every day. Cutting costs in a reasonable and smart manner is required; however, cost cutting alone rarely achieves success. As one of my mentors used to say, the best problem to have is a cost problem [...]
In today's economic and business environment, most people/ businesses are doing their best to survive; however, this approach is not a recipe for success. Instead, it is critical to aim to thrive. Only the best businesses and people will thrive during the current turbulent times, so if your goal [...]
The Wall Street Journal and other news sources are starting to talk about a bottoming process, implying that an economic recovery will be forthcoming. Although I wouldn't bet $1 on this occurrence, I would invest far more than a dollar on the critical need to be prepared for an [...]
In the recent past, there was an abundance of mergers and acquisitions occurring, and although there has been a temporary slowdown in today's environment with the freeze of the credit markets and the squeeze on cash, significant opportunities will arise with the emergence of rock bottom prices. So, to [...]
The current recession has thrust many companies and individuals into crisis - at a minimum, plans have been put on hold, and in many cases, it has been the worst crisis experienced since the Great Depression (if the company was around since then). This crisis has caused many companies [...]
