The strategy challenges for business in 2016 Business Management Consulting Fir m
BY: Group50.com
The year past ended on a mixed note for the corporate world. While volatile stocks on DOW were down by -2.2% and manufacturing index by -14%, the dollar strengthened by +13%. Consumer products however witnessed an upward movement in the stock markets. Economic analysts are not much optimistic about 2016, some of them predicting a recession soon. Their skepticism is not unfounded either; it is the eighth year of economic boom that we have entered into. Big industry players like Verizon, AT&T and 3M have reduced their capital spending significantly, while United Technologies and GE have already resorted to cost cutting measures to optimize profits.
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The scenario is not healthy for small businesses A recent survey by National Federation of Independent Business (NFIB) found that only 25% of small businesses are planning capital outlays for this year, which is the lowest figure ever since 1974, the year it started conducting surveys on the health of enterprises. It presents a gloomy picture for small industries. The big challenge for industry leaders, especially the small business owners is -Should they maintain the optimistic view and hope for the best, be it in a denial mode or prepare for downturn and continued turmoil? The answer to these questions lie on a number of factors like the industry your business caters to, the balance sheet of your enterprise, your business strategies and the stage of the business lifecycle your company is currently passing through.
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What should work for you? You may still prefer to wait and watch, move into maintenance mode or choose a proactive strategy to implement new cost cutting initiatives, paring costs and analyze your profit improvement measures. It is the right time you chose your business strategy with diligence and due seriousness. You may already have brainstormed on the business intelligence you have to devise your strategies to prepare and counter the likely downturn, but not getting the desired outcome. In such a scenario, you need to have specialists around you to provide you the insight and strategic initiatives to keep you moving forward and upward.
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For specific problems, you need specialists to solve them. With their years of expertise in making businesses sustain and grow even in gloomy scenarios, Group50 consultants may offer you perspectives that never occurred to you.
Contact Group50 Consultants at the below credentials to know how it may help your business succeed and thrive in 2016, and scribble a new success story for your enterprise
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For more information about Group50 Consultants: Visit: http://www.group50.com Phone: 909-949-9083 Zip:91784 Location: Upland, California, United States
Still interested? Group50’s Ask Our Experts is free for the time being, so you can check it out and let us know what you think. You can register here.