The most important reason of today's economical crisis is short-termism which is the single most destructive business impulse now. In order to break the cycle and beat the crisis, you should not let your business get caught up in this crisis of short-termism.
Big-sized or small, manufacturer or service company. No matter how great your business or product is today, we know that tomorrow will come faster than it used to. In today's technology-oriented business world, we all have to know how to harness the power of our connected customers and networked employees.
The result: Innovation, creativity, resilience and active leadership will be what we need; to produce not big numbers but genuine, lasting values.
Wise woman you are! That is so true that "tomorrow comes faster than it used to". We were just talking about it yesterday, how technology has changed our lives. One has to be so much smarter and you have to learn so much more just to operate a phone! And we are "linked" immediately these days by those phones, our computers, TV, etc. No longer does news take days to get to the masses. It is there almost instantly! And financial transactions that used to take days, happen in minutes so there is no room to retreat if a business makes a bad decision and customers no longer can play the "I can write the check now and will be paid in two days before the check clears the bank" game. We are in a time of rapid communication that has brought such change to our world that I think many people don't even realize how it has changed. Business as it used to be is a thing of the past, I think.
ReplyDeleteShort-term thinking and not trusting each other. The mechanism of todays financial market is too much like a chain letter, selling money for more money. Where is the real value, it is difficult to see.
ReplyDeleteSo very true. I also believe a focus on excellent customer service will become important once again.
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