HOW COMPANIES CAN GET OUT OF CRISIS
The big financial crisis has hit the real economy. The diagnosis and forecasts are still ambiguous and far from clear.
Every company must deal with its own specific problems and face its own risks as they have always done. There are, however, some considerations about mental attitude and short and long term actions in crisis situations that can apply to everyone. There should be optimism in a sense that crisis should be seen as a source of oppportunity and a chance for change.
On the basis of mental attitude, the crisis of 2008 should induce many to go back to do "simple and clear things". This crisis is a result of stratagems which created a lot of confusion in the distribution of roles, risks, responsibility, contributions and remuneration.
In the short term, the high degree of uncertainty suggests first that we cannot longer hesitate with respect to the rationalization of processes and the efficient use of personal, material, and financial resources. This is a general principle of running companies which may become a matter of survival. In crisis situations loose resources are drastically reduced.
Second, it is time to speed up the simplification processes of the corporate, organizational and logistic structures on a global scale. Processes that have already been activated by many companies when they centralized corporate functions according to the logic of global economies. Third, we should look around in order to understand how things are changing for our suppliers, clients and competitors. The crisis may bring up opportunities for instance making aquisitions or draw up strategic agreements that previously seemed more difficult or less interesting. Fourth, now is the time to take advantage of the current fluidity of the job market in order to bring talent and skils into the company which may have been inaccessible before. Additionally there could be favorable circustances to encourage investments in technical and managerial training programs for personnel already employed in the company.
All in all, we should learn from past experience in order to avoid making he same mistakes with consequences that may affect hundreds of million of people.