In today’s global economy recession, the macroeconomic are moving at light speed particularly because changes of oil prices and stock market indices. For the entrepreneur, it is very important to learn skills of business cycle management in recession to make difference between success and failure. Lakshman Achuthan and Anirvan Banerji presents Beating the business cycle book that provides the professional and technical section and tactics as masters of business cycle management in recession.
The first thing to do in business cycle management is to anticipate an unexpected downturn. Of course, macroeconomic developments in distant continents may seem insignificant, until you scratch the surface. The company strongly intertwined and thus the negative effects spread throughout the world quickly. Make sure that your business cycle techniques can take into account these changes.
The economic business cycle inevitably begins with the redeployment of capital expenditures. Following an alleged recession, business leaders, most conservatives might cut investment in new capital. Of course, this depends on the business you’re in. Similarly, the decision to buy or sell a business must be programmed accordingly. At the micro level, you also need to manage cash flow differently.
Do not cut your production for anticipating of business cycle recession. It is important while periods of economic recovery begins as well as growing demand , you have products. Do not also cut advertising fees. Tell yourself repeatedly that advertising is an investment, not expenditure.
Review your human resource needs that does not necessarily mean a reduction. Actual staff needs may fluctuate depending on market conditions. However, do not forget that during the off-season, the labor pool is growing! If you are faced with finding the right people, it might be a good time to redouble efforts during the economic downturn. Not only you are likely to get a wider choice of candidates, perhaps you can hire and pay them at lower salary.
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