Regardless of whether you are based in San Francisco, California or London, England, we all agree that recent months have been pretty unstable from an economic perspective. What should one do with all of the business uncertainty we now face? As these two articles by Alan Gleeson of Palo Alto Software Ltd, U.K. describe, it is not a time to “batten down the hatches”. Instead Alan describes a number of solutions to help you manage your business through these times of unprecedented business uncertainty.
In Planning in times of Extreme Turbulence he suggests that managers revisit their business plans, undertake some scenario planning and also that they look for new opportunities as competitors scale back!
In his article, Steps to Recession-Proof your business plan he describes how it is important to assess your own businesses vulnerabilities as well as ensuring that all aspects of your credit control system are functioning effectively.
As he concludes:
“The increased uncertainty in our environment means that planning for the future has become more difficult. However, it is how we deal with this extra risk that will determine how our businesses fare over the coming months and years.”