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Tough Economic Climate

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PowerPoint from Kansas SBDCs Frank Choriego's Tough Economic Climate presentation.

PowerPoint from Kansas SBDCs Frank Choriego's Tough Economic Climate presentation.

Published in: Business, Technology

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Transcript

  • 1. Successful Business… In a Tough Economic Climate… Is it Possible ? Created by Frank Choriego, Wichita State University SBDC, Feb. 2009
  • 2. Understanding the Global Economy
    • Technology and Globalization
    • Desire for immediacy
      • Products
      • Services
      • Lifestyles
      • Profits
  • 3. Is it going to get better? How? When?
  • 4. What should I do NOW?
    • Get Strategic
    • Become Deliberate
    • Develop Critical Thinking Skills
  • 5. How and Why?
    • To Become…
    • To Remain…
    • To Be More…
    • PROFITABLE
  • 6. So What are the Steps?
    • Develop Goals and Objectives
    • Develop an Inventory of Resources
      • Strengths
      • Weaknesses
    • Identify Environmental Conditions
      • Opportunities
      • Threats
  • 7. Steps continued…
    • Resources, Competencies and Competitive Advantages
      • Superior Product
      • Superior Technology
      • Superior Innovation
      • Superior Customer Responsiveness
  • 8. Steps continued…
    • Strategy Development
      • Maximize Strengths
      • Minimize Weaknesses
      • Take Advantage of Opportunities
      • Avoid Threats
  • 9. Steps continued…
    • Strategy Selection and Implementation
      • Is the strategy implementable?
      • Can I afford to implement?
      • Do I have time to implement it?
      • Can I measure results?
      • Budgets, Time Lines and Milestones
  • 10. Steps continued…
    • Evaluating and Redirecting
      • Use the “yardstick”
      • If it doesn’t measure up… figure out why, quickly – fix it or ditch it…
      • If it works…can I do more of it?
      • Go back to number 1 Every 12 to 18 months
      • Deliberate, Strategic, Critical Thinker
  • 11. What else?
    • Don’t be shy…ask for help if you need it. Who can help?
    • Suppliers
    • Bankers
    • Government – Local, Regional, Federal
    • Customers
    • Employees
  • 12. THANK YOU