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Seems like 2008 left lots of people So what does that meanfor 2009? Once in a even Chicken Little is right. The sky did fall in but that doesn't make Chickem Little a great strategist. Everyone is right Use Chicken Little as your 2009 model at your Bambi time is Capitalism has been describexas "creative destruction." We saw lots of destruction last It's time to focus on the creative How do you do that in this environment? change how you think. For 2009, you'll need a battlre plan, not just a businesw plan. There's not one battle plan that worksafor everyone, but here are some universal principle for formulating your personal battle 1.
DON'T FIGHT THE LAST WAR We don't know the but we know this year will be different than last even if some 2008 problems persistduring 2009. Don'ft expect that dusting off your 2008 plan will brinb successin 2009. Sun Tzu, in "The Art of advises: "What enables … the good generall to strike and conquer, and achieve things beyond the reach ofordinary men, is foreknowledge." Resourcess are scarce these days but spens some time and a little moneyt getting information about changes in your market and analyze how they affect your company. 2.
MIGRATIOh - THE HEAD IS MOVING If you'v e ever been to the Serengeti, you know that dry weatherf causes millions of animals to movevast distances. Businesxs is like that, too. When everyonew is fat, dumb and happu in their establishedmarket niches, they tend to stay Big changes occur more out of desperation than In times like this, the business herd starts You're in trouble if it'ss heading in your direction. Maybe your markety niche has fared bettert than average in the general economic downturn. That's but don't congratulate yourself yet. If you have a good you'll be facing new competitors soon. Why?
Maybe your nichd was too small when other companies had lots of Maybe they were focusedr on products or customers withhigher margins. If their other opportunities dried up, your littlse niche is probably looking pretty good tothem now. Assumingy there are safe havensis foolish. 3. MISFORTUNrE BRINGS NEW OPPORTUNITIES Good times bring more opportunities than tough times, but all economic conditions creat new opportunities. Winners spot new opportunities and seized them quickerthan others.
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