To take advantage of the opportunities that exist now and will develop over the next two years, it is crucial for you to know where you and your business really stand today. How can you build on opportunities you find or develop new opportunities when you do not really understand the strengths and benefits you have?

Jack and Suzy Welch said to plan as if the downturn will be longer and harsher than you think, in the October 13th Business Week.

Think of it this way. Those people who go through some version of this strategic hunkering down thinking increase their ability to survive. If things get even worse, they saved time and money, versus those who were reactive rather than proactive. If things get better quicker than projected, these proactive companies will be in a stronger cash position to take advantage or opportunities than the reactive companies.

At a strategic or 50,000 foot view, see this as a prescribed plan for your business that includes similar steps to the process you may personally follow when a crisis occurs:

A check-up to identify immediate issues.

Tags: corporate

This entry was posted on Thursday, October 23rd, 2008 at 3:00 am and is filed under Corporate. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.