Reaching back decades there was a time when Peter Drucker addressed times similar to our own in “Managing in Turbulent Times”. Written back in the days of stagflation, Dr. Drucker warned us of the changing economic and competitive landscape, argued for a rational conservative approach to business but also encouraged the exploitation of new opportunities.
Today might not be a bad time to stick to the basics and heed Dr. Drucker’s advice. We have conflicting data and reports of economic recovery yet the national debt continues to grow and a solution is nowhere near. Taxes are set to increase and uncertainty over healthcare costs remains. Yet job growth has been on the increase. Depending upon your state, state taxes of all sorts or increasing or the budget is being trimmed and services cut.
The bottom line for business planning today relates back to financial condition, future expectations and forecasts, sector and competitive landscape. It can be an excellent time to the plunge into a new activity if the liquidity is ample. It is also an excellent time to increase operational efficiency and to increase economies of scale. Keep in mind that the greatest opportunities are often presented in direst of times.
Follow Us!