This week Jaguar Land Rover announced a multi – billion pound investment program which will generate over one thousand new jobs in the West Midlands – a fantastic example of how a company can thrive in a recession when it focuses on producing a quality product range which exceeds customer expectations.
Here is just a short list of some major companies which not only started in a recession (or even a depression) but went on to grow into some of the biggest and most successful companies in he world today.
General Electric – 1873
Disney – 1924
Hewlett Packard – 1939
Burger King – 1957
Microsoft – 1975
So here are some thoughts on growth in the current recession:-
- Business Case – if the business case is sound and has been rigorously reviewed – forget the recession. Have the courage to invest in your convictions.
- Ignore the herd – just because the majority of companies are acting like rabbits caught in the headlights doesn’t mean that yours has to.
- Crush Competitors – that’s right, take the opportunity to mop up your timid competitors markets.
- Eliminate waste – apply LEAN principles to maintain the competitive edge.
- Ensure Quality – apply 6 Sigma t0 minimize defects & maximise yields.
- Employ Interims – If you are cautious about taking on full time employees make use of highly qualified contractors available at short notice to meet your immediate business needs.
Fortune favours the brave !
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