The extended shutdown of China’s manufacturing sector due to the coronavirus is likely to affect all companies and their competitors. Here’s how you can out-plan your competitors and weather this economic storm more gracefully.
SAP’s Catalyst is a social influencers program on managing your business, empowering your people, engaging your customer, and improving your decision making topics.
Sarah Evans recently interviewed Robert Sher about the transition of moving from the startup phase to the midsized space. Not only is it exciting, but you can also begin to see the momentum of building your business.
In order for growing midsized companies to avoid a customer experience meltdown, their leadership must plan and build leadership infrastructure. Without leadership infrastructure, growing companies can be victimized by their own success.
When a company grows to midsize, it often grows faster than its partners and suppliers, and fails to adjust its outsourcing processes to its growing needs. Here are four simple steps midsized companies can take to manage vendors.
In a no-longer-growing market, increasing sales and marketing may actually not be the best way to grow. Making big efficiency gains may be far better.
Startup companies that thrive react to a new market opportunity at lightning speed, long before big, established companies even recognize what’s happening.
Be afraid! Many growing midsized companies are at risk for a PR disaster like Comcast’s if they underinvest in operations. Last-minute rush-job hiring, poor training and the pressure of a growing company can combine into operational meltdowns.
Too many midsized companies underfund and ignore operations until it all melts down in the middle of a long-hoped-for growth spurt. Some companies never get a second chance.
Any company that has weathered the recession of 2008-2009 well should congratulate itself for exemplary performance amidst truly trying times. And with the stock market at new heights and the broader economy on the upswing, the leaders of many high-flying companies could not be blamed for feeling that now is the time to double down on their strategy. Yet ironically this could sow the seeds of trouble.
One of the fundamental truths of business is that cash is king. Too many firms run so lean that they are at risk of shutdown if any large problems arise. Find out where cash goes, where it should go, and how to stay in a comfortable range.
Robert Sher is founding principal of CEO to CEO, a consulting firm of former chief executives that improves the leadership infrastructure of midsized companies seeking to accelerate their performance. He was chief executive of Bentley Publishing Group from 1984 to 2006 and steered the firm to become a leading player in its industry (decorative art publishing).