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cycle alternating crests and troughs over a time period of 6 to 8 years.. With widespread globalization, the influence of the business cycle now cuts across boundaries of countries. A sub-prime crisis in US has its repercussions in the software industry in India. A slump in software Industry affects auto industry and real estate business. The snow-balling effect leads to a global recession.

Many times, the business plans have to be re-tuned considerably to take into effect the business cycles and the effect of globalization.

== The influence of Government Policies ==

In a country like US, where open door policy and free market access have all along been a norm, the severe and current domestic financial crisis has the potential to bring in protective measures to safeguard the interest of local man-power and to generate large scale local employment. Such unprecedented policy changes coming from Government can turn the business plans of companies - both in US and outside, topsy turvy. Unless a high degree of course correction and restatement of core business plans are undertaken, business houses cannot remain afloat for long.

Thus, staying true to any business vision needs a high degree of flexibility and frequent course correction. It has to be strongly associated with good ethical principles too, if the business house wants name and respectability in the long run.

Learn more about this author, C.V.Rajan.
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