With dark clouds looming over the world’s financial markets, enterprises are preparing for the worst. It seems like déjà vu; only 3 years ago we saw the global financial meltdown and now again we seem to be heading to a similar fate particularly considering the deteriorating markets in Europe and the US.
Now, more than ever enterprises small and large have to focus their energy and resources on reducing unnecessary costs and maximizing the bottom-line. The catch is to do so whilst maintaining and enhancing efficiency and quality. Seems like a mountain of a task and is definitely easier said than done.
On the other hand, business development will also be an uphill task for enterprises during this period of uncertainty as companies would be less willing to part with their capital.
If there is one thing that enterprises can definitely count on during such a downturn, it would be the Relationships that they have built over time with their partners and existing (or potential) clients. A relationship, if built on the right foundations, would withstand any crisis.
Enterprises must realise the value of such relationships and not neglect them if they intend to maintain and possibly enhance revenue and growth.