The economic resection time can be a chance for the organisations to excel, even though many companies show a decline in their growth with a strategic planning there is a chance for the organisations to show a positive growth even during the financial crisis. Some of the well established companies were able to withstand the crisis, companies such as Nike, Colgate-Palmolive and Unilever etc (). It is said that in addition to the idea of protecting and developing the market brand, organisation must also ensure that at the time of crisis operation flexibility is mush necessary for making an innovative and decisions which coincide with the market opportunities.
In order to run a smart business at the time of resection a company must balance in their cost reduction and in smart Investments. SAP AG a German software corporation, which is an expertise in business solutions, is one of the companies which made a much profitable business during the last financial crisis. The chief executive of SAP has said that few practices with less effort were enough to pass over the world financial crisis. The few practices are managing the cash flow, Run lean operations, Drive compliance Activities, Protecting and Nurturing our Brand, Getting closer to our Customers and Retaining the companies top talent (). Managing cash flow is to be done as the revenue within the company tightens, the company must be able to manage the cash flow from proper hand to hand and keep up the share holders’ confidence. Lean operations must be carried out in order to reduce the internal cost and by improving the employee productivity and making a stream lined operation. By lean operation a company can reduce 25 percentage of operating cost, and as for the external costs the company must take proper measure to reduce the Maverick and worthless expenses in the supplier environment.
Driving compliance activities in an organisation makes the rules and regulations of the company more rigorous than the existing initiatives. A streamlined work out in a organisations’ management will lead to a positive result of the company.
During crisis period the brand name must be looked upon,
We will send an essay sample to you in 24 Hours. If you need help faster you can always use our custom writing service.Get help with my paper