With recession hitting us yet again .. we are seeing alot of businesses going down like a pack of cards … for some it may be an opportunity , for others its quite a scary picture knowing that if big businesses couldnt survive , how will the smaller ones survive ?
Markets are becoming extremely competitive and requires a constant input of creativity to keep the business not only running successfully but well ahead of the competition … so what are the new creative ways are out there ?
Keeping in mind SME’s coz they cant invest as much as big businesses can .. please share what your company / business might be doing to beat the competitors ?
Re: Beating the competition ...
What does SME stand for? I am pretty bad with abbreviations.
Re: Beating the competition ...
Sorry southie ... SME stands for Small and Medium sized Enterprises ...
Re: Beating the competition ...
Thanks CB. isnt it true that if a company has a solid balance sheet, then it can use a downturn to even gobble up the competition and increase its market share?
Re: Beating the competition ...
It can for sure ... but thats risky business coz while a company takes over another , you got to be careful regards the baggage that follows .. and in an already tough market you will not only be fighting to pull your own weight but also the new company's weight that you have taken over ... so it will become double the effort !
It becomes particularly difficult in countries with big Red tape ...