Channel Button

There are 4 articles on this title. You are reading the article ranked and rated #4 by Helium's members.

Business   >

Business Strategy

Business survival during hard economic times

Survival during Uncerntainty:

Uncertainty prevails commonly in all businesses and individuals. Therefore, decision making under the conditions of uncertainty is very crucial in today's context and for the future ahead. Media plays an important role providing information in context but you all have to be very careful. Media adheres to two strange laws, namely Law of Premature Predictions and Law of Media Oscillation, to retain the uncertainty in order to sustain the interest and excitement until the last moment. Do not totally rely on what is published or being made available in the media for public consumption, to make decisions under conditions of uncertainty. If possible, do your own research and find out what exactly is happening. Do not try to understand one outcome while neglecting the other, in regard to an uncertainty. Instead, pay equal attention on both possible outcomes, in order to have a better understanding of the situation. Winners are those who forge clarity in an unclear situation in a way that the path is clear only to them.

Ambiguity management plays a vital role in the business world and at the same time paradox has become the key to success and survival. Ambiguity and paradox provide cool business opportunities if you are conscious enough to manage situations effectively. For example, when the picture ahead is not clear, it is better that you slow down the business move although it is extremely against the corporate business plan. My sincere advice to business managers is holding the long term plans and to concentrate on immediate plans until the picture becomes clearer for you. In case if it is really worthwhile, then take diversion in the business move but make sure that you are one hundred percent accurate. Also, if you are not sure of the necessary decision just never mind to follow another person who has the access of information and who appears knowing what has to be done. Unfortunately, some bad luck managers feel inferior to accept the fact that this could bring way out in business to survive.
Chaos has become a day-to-day reality in personal life and at work, at all levels. If an existing equilibrium is disturbed by an external factor a new state of equilibrium will form. One must know how to enjoy chaos. If you get caught in chaos that is grave and you will become the victim of circumstance. Therefore, you have to transform knowledge into wealth through cost-effective methods. Pre-consumed notions often fail but conceptual


Below are the top articles rated and ranked by Helium members on:

Business survival during hard economic times

  • 1 of 4

    by Terry H Hill

    An economic downturn is a phase of the business cycle in which the economy as a whole is in decline.This phase basica... read more

  • 2 of 4

    by Robin Landry

    With increasing competition and the worsening economy, maintaining profitability remains a primary concern among many... read more

  • 3 of 4

    by Ronald Claiborne

    In my opinion, and everybody has one, business survival during hard economic times hinges on four basic things. Thes... read more

  • 4 of 4

    by Ahmed Zaki

    Survival during Uncerntainty: Uncertainty prevails commonly in all businesses and individuals. Therefore, decision... read more

Add your voice

Know something about Business survival during hard economic times?
We want to hear your view. Write_penWrite now!

Debate Icon

Cast your vote!

Business success is an outcome of business ethics. No or yes?

Click for your side. Must be logged in.

148828

Featured Partner

ResearchSEA - Asia Research News

ResearchSEA - Asia Research News has partnered with Helium to bring you the ResearchSEA - Asia Research News Citizen...more

What is Helium? | User Guide | Community | Link to Helium | Privacy | User agreement | DMCA

Helium, Inc.
200 Brickstone Square Andover, MA 01810 USA