I recently did an interview with Michael Fischer from Lyondell-Basell about important change work that often gets ignored. The short list of to do’s is pretty straightforward:
Manage costs. Decrease them wherever possible
Protect your share of a shrinking marketplace
Conserve cash so that you can weather the financial storm
These make sense. But alone, they miss the mark.
There’s one good thing about times like these when the economy tanks. It encourages out of the box thinking. You get ahead by challenging fundamental assumptions. The more sacred the assumption, the more you need to call it into question.
What’s the most basic assumption in this economy?
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