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Corporate turnaround – best strategy to counter recession

Corporate Turnaround – Best Strategy to Counter Recession

Bear Stearns is gone, Lehman Brothers is gone and Merrill Lynch is almost gone. Three out of the five great walls of the Wall Street (USA) have collapsed. Thanks, to JP Morgan Chase and Bank of America; at least two out of these three unfortunate Investment Banks did not meet the same fate as the Lehman Brothers Inc. The recession had engulfed three of the top Investment Banks of the world. However, these three were not alone; plenty of big and small companies around the world have tasted the bitter taste of recession. Nevertheless, the question still remains; is your company insulated from this financial Tsunami?

Recession is a part of macroeconomic cycle. Therefore, it occurs after a certain period; but this time it is not a usual recession. The on-going recession is equivalent to the great depression of 1930. Governments all over the world are taking stringent measures to counter recession at the macroeconomic level. However, would that be any relief for individual companies, which are already suffering the consequences of this massive recession? The answer is a clear cut “NO”. The reason is simple. Macroeconomic patchwork would not be enough to save individual companies. Therefore, companies around the world would have to take instant measures to counter this frightening recession.

“Survival of the fittest” is the law of nature. If an organization is not fit to compete with others, then eventually it would perish. “Strategy” is the key word to save a perishing business. Therefore, if a company is almost at the verge of a deep trouble, then the best strategy is “To strategize”. But the most difficult question is how to strategize? The best way to strategize is as follows:-

1. Improve your liquidity position by enhancing the inflow of cash and restructure your organization. Take all the possible measures to sustain the cash balance of the company and cut short your expenses. Strong liquidity base will give a new life to your company.

2. Search for new sources of income. A regular inflow of cash is very essential to sustain any business. Search for new corporate clients and sustain the existing clients.

3. Last but not the least; bring immunity to your business for a long-term survival and growth.

You might have been aware of all these steps of survival, but just to have the required knowledge about these steps would not help you. In-order to survive, you would have to efficiently implement these steps in your corporate entity. The current recession is not an ordinary recession; it is a financial torpedo, which will destroy many small and big companies around the world. The only way to survive from this monster recession is by strategizing your business in the best possible manner.

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