---

Guest post by: Niall Devitt Become an Author

Tweet

---

---

I thought for my first post of 2009, Id start with a hypothetical situation about two imaginary competing companies contemplating what 2009 will have in store.


While these companies are of a similar size and operate in the same space, their philosophy as to how best deal with the situation is entirely different.


So why not name them after their individual philosophies.


Let’s call the one company “Wait And See“


The CEO of Wait And See is a man by the name of Freddy Fearful. He listens to the media reports and reads the papers. He believes that his company is at the mercy of the downturn and this makes him very anxious. He learns that his competitors are in a similar position, which tends to ease his anxiety somewhat.


When his employees look to Freddy for leadership, he stresses caution, saying that it is better to make no decision than a rash one. At the first team meeting of 2009, he tells his managers, that his plan is to do nothing for now and hope that the situation improves by the end of the first quarter.


Let’s call the other company “Take Action Now“


The CEO of Take Action Now is a woman called Dawn Decisive. Dawn realises that there are many things about the downturn that are outside of control. She decides the best way to deal with the problem, is to devote her time positively impacting the pieces where she remains in control.


At the first team meeting of 2009, Dawn details her plan to move the company forward. She announces a series of measures with the aim of adding additional value for customers. She talks about ways in which the business will adapt to deal with the situation.


She communicates about the best way to handle the unknowns, stressing the important of being flexible and re-active in the months ahead. She asks her managers to instruct their account managers to approach customers to find out how the company can help during the downturn.


Actions define Outcomes


We all know which company is going to arrive in 2010 in better shape. My point being, there are many aspects of the current business climate that are unpredictable, there are many more that can be predicted.


For business leaders, it is ultimately the aspects that remain within their control that will decide the overall fate of the company. Of course you should be careful of bad decision-making, but no decision is equally a bad decision.


No know really knows how the overall economic climate will play out over the coming months and possibly years. What we can say is that individual businesses will be defined by the decisions they make and the actions that they take. Politicians should also take note.

Related Articles

  How A Simple Question Earned Thousands Of Dollars
  Matching, Pacing and Rhythm
  Check Your Bank Account. There Is A Deposit Of 84,600
  Make it New, Now
  Is the student ready?
  Ready, Set . . . GOALS!
  Career Advice: Four Secrets to Creating Successful Job Opportunities
  Google US Search Share Reaches 63.2% in May 2009
  How To Avoid 'Baby Talk' SEO Copywriting & Make The Sale
  8 Ways to Boost Service Business Revenues. Part 1 of 2
  Make A Fortune With Your Network Marketing Downline! ~SECRET TO WEALTH ONLINE
  New York Commuter Tax
  5 Ways to Energize Your Business for 2009
  Orchard survey shows that CEOs expect business climate to improve in 2010
  U.S. Dollar Forecast for 2009
  Make A Fortune Starting With A Small Budget In Multi Level Marketing Opportunities! ~REVEALED
  Who Are the Most Powerful Women in Business?
  Is the pathway clear?
  Forbes Richest People Prove That You Should Start a Business
  2009 Salary Planning Forecast

Related Forum Posts

My entry
Re: Moderators on vacation
How She Does It
Re: Did you meet your goals in 2010?
Closing the big sale

Share this article. Fund someone's dream.

Newsletter

Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!

Name:
Email:

Popular Articles

Resistance to Change and How to Deal With It

** The Passion of the Resume**

Cleavage in the Boardroom

Suggestions

Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.