By Jeremy Kourdi
All companies battle through hardships, yet their response could make the variation among survival and failure. sensible yet inspiring, this booklet covers: understanding thereвЂ™s an issue, targeting what you do top: your center company, spending sensibly, being paid on time, scaling down on inefficiency, steadying the send and conserving employees morale, operating at exterior relationships (the financial institution, buyers, suppliers), figuring out survival strategies (and how you can stick with them), and never letting issues slip.
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All mail, memos, business plans and sales data are scanned and are accessible to the whole organisation. EasyJet’s marketing director has a direct telephone line and no secretary to ﬁeld calls, achieving the dual beneﬁts of reducing costs and being in constant, direct touch with customers, suppliers and employees, all offering suggestions as to how to make a good service even better. These actions developed and reinforced the strategic priorities of efﬁciency, awareness and customer satisfaction— and they made EasyJet popular, distinctive and successful in a very competitive market.
What is the trend for the following indicators of business performance? Are they getting better or worse? sales revenue in the last year sales revenue in the last month number of new customers 26 Page 26 Black green Page 27 Black green WHAT CAUSES A BUSINESS DOWNTURN? number of loyal customers number of competitors volume sold time taken to sell one unit proﬁt per unit sales cost per unit direct costs overheads These ﬁgures are, of course, interrelated. But if even just one of these indicators is worsening, you’ve got a problem.
Do you manage costs ruthlessly to offer value to customers, or do you spend more time and money ﬁnding the best suppliers to improve quality and increase sales revenue? The techniques you use to boost proﬁtability must be consistent with your organisation’s vision. Challenge 3: Choose the right path to growth One of the most fundamental decisions for any business is choosing the most effective strategy for growth. The ﬁve ways of proﬁtably growing a business are: 1. 2. 3. 4. 5. organic growth mergers and acquisitions integration diversiﬁcation specialisation All these are limited by the resources available—during a downturn, for instance, cash tends to be scarcer—and require a clear focus on objectives and a sustained level of commitment.
Surviving a Downturn by Jeremy Kourdi