Competition has also intensified as a result of these changingconditions. The current market pressure has forced businesses to become moreopportunistic, placing huge emphasis on pricing and discounting in an effort toget ahead of their competitors.
Spending hasn’t come to an abrupt halt but consumers and businesses aredefinitely far more discerning about potential purchases and suppliers. Theyare less brand loyal, more price sensitive and are more willing than ever to‘shop around’ for value for money.
Today’seconomic conditions have caused turmoil across every sector. So what has changedsince the recession started? How has the current climate affected how companiesoperate and do business?
A business that really knows what its customers need and understandstheir behaviour will be able to serve their customers better as well as managetheir own business more effectively, now and as we enter the post-recessionperiod.
Organisations cannot afford to wait until the turning point of thiscurrent crisis has been formally announced before preparing for the impending growthperiod. Now is the time toswitch from survival mode to thrive mode and to prepare your business toaccelerate out of the downturn. If not, you will most certainly be left behind.
Many economists will not be drawn on when the current recession will endbut one thing is for certain - it will have finished before it has even beenofficially announced.
Figure 1 below demonstrates how official declarations regarding the endof the recession have taken up to 20 months to be formally announced in thepast.
发表于 2010-1-23 00:17
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