Business Plans

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At this moment, the world economy is in a recession. But that does not mean a recession without a solution. There is no exact cure that applicable to all types of businesses, but there are strategies that can be generally applied in time of recession. It all depends on the company’s strategic profile itself, particularly seen from their financial and marketing aspects. As seen from the side of the company’s financial and marketing strength, the things that have to do is to buy a competitor or their assets and then increase marketing costs.

While, the company is in a stable position (strong finance, but the marketing is weak), according to him, what should be done is to build stronger marketing team along with acquisition of strong brands. If the company is shaky, weak finances, strong marketing, create fresh funds by cutting overhead costs, renegotiate with suppliers and do some improvements.

Meanwhile, if the company goes into bankruptcy, just close it. Save whatever can be saved or sold if there’s anyone want to buy it.

Image: www.relationship-economy.com

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