The third polling was performed and bell shape response received, indicating that half of companies’ management thought they would be in 9% stronger after recession.
1. Manage Your Management Mindset
Problem of
Prevention-Focused (e.g. Survival focus build a feeling of disempowerment or
same cut for all things) and Promotion-Focused (Optimism culture and wider customer
expectation gap that do not notice the pie is shrinking).
2. Integrate Offensive and Defensive Plans
Defensive action is to improve
operational efficiency rather than by slashing the number of employees relative
to peers. Offensive action is to develop new business opportunities by making
significantly greater investments than their rivals do in R&D and marketing.
3. Protect Strategic Expenditures
An indiscriminate slash-and-burn response is a big mistake because it fails to distinguish between short-term operational and long-term strategic programs.
1. Careful About Discounts
There was dilemma of
short-term visible performance vs long-term invisible performance.
2. Focus on Switcher-Type Customers
Switchers were spending 40%
of coffee-related dollars at Starbucks.
3. Provoke Your Customers to Buy With Urgency
1. Manage Your Cash-Flow
“I will be very careful
about the cash and inventory control over than other things before any
investment decision.” Said by Andrew Lok.
2. Review Control Measure like KPI Carefully
Current ratio is short-term assets (cash, inventory, debtors) divided by its short-term liability (creditors, taxes, and deferred dividends). Quick ratio subtracts inventory from short-term assets and divides the result by short-term liabilities.
Reference:
Asia Pacific Institute for Strategy Limited (亞太策略研究所有限公司) – www.apifs.org
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Previous talks summary:
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