SCORE Small Business Blog

Managing: Focus on the Big Picture During a Recession
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Q. How Do I Keep Perspective on the Big Picture Especially During a Recession?

Planning Process A: Companies that have a longer term strategic plan (3+ years) have a significant competitive advantage in challenging economic times. They have already gone through the exercise of indentifying/prioritizing key initiatives and know where to apply their limited resources. (i.e., $’s, people). They already have a clear vision for the organization (i.e., what will the company look like in the future)? In most cases, a recession may slow down the rate at which a company moves forward, but more often than not, a depressed economy does not change the direction that a company should pursue. Bottom line, in a recession, stay the course – cut your expenses but do not change you direction.

Here are a few resources to help you focus on the big picture and overcome the recession blues:

 
Sue Hartman, Guest Blogger
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Discussion (2) Comment

  1. [...] Fellow SCORE guest blogger Sue Hartman stated an excellent point which I will copy and paste to save you the time of searching for the actual blog: [...]

  2. You’re right! A long term vision is necessary to avoid future problems like the economic recession we’re living right now. Companies should always aim their strategic plans in the long time.

 

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