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What Causes Tough Times?
  • Economic Recession
  • Landlord raising rent
  • losing key team player (employee)
  • Ex-team player stealing key accounts
  • Not keeping up the changes
  • Lack of adaptability
  • Company focusing on Customer Services instead of focusing on Customer Satisfaction
  • Team players not understanding and/or working towards company's Mission Statement
  • Key account closing their doors.
  • Sales team does not know when to stop talking and close the deal.

What are the benefits of an Economic Recession or Tough Times?

  • It forces companies to prioritize by eliminating non-productive products, services and eliminate company's divisions that are a drain on bottom line.
  • It provides great opportunities to invest in Real Estate and/or acquire competitors businesses who have decided to close their doors.
  • Tough Times creates a window of opportunity for companies and management to have a reality check as it relates to:
  1. The relevancy of the company's Mission Statement  in today's environment.
  2. Review the long term sustainability of the company by examining the readiness of company transitional team in case of top management departure for whatever reason.
  3. Review the generation gap if any between top management, staff and company customer base and implement an educational training program to close those ideology and generational gaps thus having one vision from top management and staff that is in harmony with customer needs.
 
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Exchange Rates

ECB Exchange Rates
Currency EUR 
2010-02-09
USD 1.3675
CAD 1.4640
CHF 1.4659
DKK 7.4442
GBP 0.87610
JPY 122.07
SEK 10.1616
NOK 8.1705
AUD 1.5765
RON 4.1370
USD 1.3675

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What Causes Tough Times?

25-12-2008 | Theo Chambers Economic Recession Landlord raising rent losing key team player (employee) Ex-team player stealing key accounts Not keeping up the changes Lack of adaptability Company focusing on Customer Services in...
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