Business

Created 1/12/09

For most businesses, the ordinary aspects of successfully running a business present a host of issues that are adequately challenging, if not more so. In “normal” times, the vicissitudes of the economy may present additional challenges, but over the recent history of the U.S., these economic challenges have not been of a chronic nature and have followed a rather predictable pattern.

However, the challenges created by this current economic environment (during the “financial crisis”) appear to be very unique, unpredictable, and fast-moving. In addition to these inherent changes, government efforts to stimulate and intervene have added a new level of complexity, as now there is a new landscape. What most would consider a broad “capitalistic” economy has been changed to one of “partial nationalization” (or what some would consider “socialization”) as well as a broad array of other measures (guarantees, bailouts, etc) appearing across a number of industries and companies.

Companies across the business spectrum have started to adapt to these adverse economic conditions in a number of ways, including such standard actions such as job cuts and price cuts. But are these, and other actions such as tighter “cash management”, which have become accepted “standard operating procedures” during challenging times, appropriate and adequate for the new and unique business and economic environment in which we now find ourselves?

These issues will be presented and discussed on a going-forward basis.