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Time for companies to view things more positively
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Bikky Khosla | 09 Jun, 2009
The gloom is slowly lifting and there are signs of recovery in certain industry sectors. Although the change is minimal, nevertheless, we will now have to look at things positively. And while we are waiting for sops from the government, it should also not be the only option left with us.
Now is the time to take things forward. Yes, demand is currently low, so we can utilise this time in implementing certain factors in our operations that we have been postponing. For instance, this is the best time to develop a clear picture of one's business: where it stands and where it's headed.
One needs to analyse the current performance of one's business and identify the needs. Questions like 'Does my business need more new and powerful tools and approaches?' or 'How do I now define my business objectives, actions, organisational structures, roles and responsibilities?' need to be answered.
This is also the best time to analyse one's clients/ buyers. Get to know and identify the factors that influence buyer behaviour and try to analyse consumer buying roles and decision processes. Based on these findings companies need to develop new marketing strategies.
Not to forget corporate branding! Today, the markets are overpopulated with companies vying for space. As such, it has become very difficult to get one's marketing message noticed. And with the rising costs of launching a new product or service in the market, it has become even more important to cut through this clutter by corporate branding. A well- thought out or a powerful corporate branding strategy can give instant results. That is why it is important for any company that wishes its products to be successful to create and protect a strong corporate brand.
Most importantly, we also need to cut both time and costs in finding buyers. Not an easy task if you are doing things wrong. Lakhs of companies today rely on the web to find buyers for their products - cost-effective and less time consuming to say the least. If a company is into exports, imagine the huge expenditure incurred in travelling and finding buyers. Not anymore. If you are registered with a B2B portal, you can reap the benefits at a minimal cost. In addition, it saves your time too.
So before we take the big leap, we need to look into ourselves and make the adjustments required to thrive in today's market conditions. The same gloomy situation in the markets will not remain forever. But are we prepared for things when the markets brighten up and the economy is back to normal? This is the question we need to answer now.
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Economic Deppression
Bhabani Shanker Ganguli | Thu Jun 11 06:35:36 2009
True, the depression has affected the IT and Export Sectors, but manufacturing is doing 'business as usual!' Of course, buyers of High End Products are biding their time, which, I suppose, is why the Real Estate Industry is facing a grave crisis. But, this, too, will pass. As the economy shows signs of a recovery, big buyers will loosen their purse strings, and real estate and service industries will also begin to look up.
As far as B2B registration is concerned, it is not just helpful, but essential in todays changing world. Here language chauvinists, unless they use good translators, will suffer!
Economic Deppression
Bhabani Shanker ganguli | Thu Jun 11 06:32:08 2009
True, the depression has affected the IT and Export6 Sectors, but manufacturing is doing 'business as usual!' Of course, buyers of High End products are biding their time, which, I suppose, is why the Real Estate Industry is facing a grave crisis. But, this, too, will pase. As the economy shows signs of a recovery, big buyers will loosen their purse strings, and real estate and service industries will also begin to look up.
As far as B2B registration is concerned, it is not just helpful, but essential in todays changing world. Here language chauvinists, unless they use good translators, will suffer!
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Re: Economic Deppression
Nainesh Trivedi | Fri Jun 12 04:49:56 2009
I think people should be carefull when depression sets & also when it reduces. Both the phases are crucial. One can not have sufficient business at the same time it is just begining of new business arrivals. The SMEs specially tends to loose money by quoting low prices or not able to cater to customers with quality. Both the things stops progress. The businesses should be carefull & think positive. One should not rush to grab whatever comes as there can be bad quality business which brings frustration but not profit.
The business houses tend to work more for lesser amount & hence it causes fatigue. The wrong decisions taken once can hound you for years as prices once quoted can not be revised easily without fear of loosing business. So assessment of prices to be quoted should be carefully calculated in this time as not too low or too high. Be reasonable & positive thinking as one can not remove depression overnight.
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Re: Re: Economic Deppression
gita kakumaanu | Tue Jun 23 08:14:36 2009
the economic depression is there but why is that the economists,the finance minister ,PM,and planning commission vice chairman talking in different tones in nov 08. none of the administrators bothered about the ssi or sme sectors,they only give lip service, i'm a business woman running two foundries and we supply castings to automobile giants like ashok leyland who 've not made our payments for almost 180 days but our bankers only bullied us. wheras the govt is only planning to give stimulus package to he big players. in fact i know of many small players who committed suicide due to the economic depression'which has gone unreported.the govt is only there for the big players, the ssi and sme do not get enough support from the banks or the govt.
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