FUTURE FINANCIAL PERFORMANCE It is management’s job to be able to assess the operating environment for today and tomorrow and to adjust to the changes as they occur. Disruptions will occur and reoccur. Ideally, managers should pick up early on the trends and reposition the company before there are any lasting detrimental impacts from these “outside” forces.
All of the FACTORS in the following areas of the business have a notable effect on financial results. All of your plans, even in a crisis, should take these factors into account. Let’s take a quick look at the full list, so you can better understand that statement and, in some manner, rank the level of input priority each group of factors should have … first in survival plans and then in longer-term thrive plans.
TAKE ONE CAREFUL STEP AT A TIME. What’s the Best Way to React in a Distressed Economy? The previous paragraphs provided initial thoughts on surviving in an economic crisis. Once the business is stabilized and the move toward thriving is addressed, consider these thoughts below from noted business experts. There are two schools of thought when times are tough and the future is uncertain. One says that businesses should cut expenses and prepare to ride out the economic storm.