Recession is a word driven everywhere; Since the day Joseph Schumpeter came up with an idea of trade cycle with recession being a part of it, the word "recession" or its idea is now not only a word only used by trade analysts, Managers and strategy planners.
Its become a term used every now and then by general masses.
It is of utmost priority for the organizations to curb recession from drowing their businesses.
So how to slowdown this Slow down ??
Some simple and straight forward way is :
1. Go in for strategic shopping: purchase whatever is of priority, buy necessary items
2. Reduce spending: can be done by stretching the capital expenditure and improving productivity of work force.
3. Innovation : Radical or even tactical.
4. expand boundaries: think and plan differently; globalize products and markets
5. Donot cut advertisements and promotional expenses: rather promote and incentivise selling via different campaigns or you may also diverify the marketing portfolio as per requirement of the market.
6. Most importantly try and work out some of these fundas BUT "don't speculate".
May be my gyan can help some1 somewhere to stagnate the recession.
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