|
First of all, get a sense of perspective.
The world is not ending. Workers and management should
take a deep breath and realize that civilizations have
been around for millennia. Think about it. We have endured
centuries filled with upheaval and new discoveries.
Be assured that there will be a tomorrow and business
will be transacted. As soon as people rid themselves
of fear, the black cloud will lift, and they will be
in a much better state to be productive.
Second, focus on fundamentals. When
times are good, companies try to accomplish as much
as possible. However, when times are tough, people should
focus on the fundamentals because they don't have the
extra cycles, extra capital, or the extra personnel
to achieve all that they would like to do. In addition,
determine your company's raison d'être. Ask, "What do
we do well?" and "What are customers willing to pay
for?" Regard this time as an opportunity to refocus.
To do so, determine your competition's
position in the market space and what you can do to
gain a competitive advantage. This is the point where
you need to tighten the belt one morenotch and continue
to make investments, even when times are tough. It's
one sure way to gain the competitive advantage. Because
when the economy begins to turn around, companies will
find themselves in one of three scenarios: either having
gained marketshare, maintained marketshare, or lost
marketshare. I think most people in these markets hope
to be able to maintain marketshare. That's the wrong
mentality. Companies must regard this time as an opportunity
to gain a competitive edge. Be aggressive, even now,
to do whatever it takes to remain a winner. Take advantage
of the opportunities that change creates.
|
|
John McEleney, president and CEO of
SolidWorks, offers some thoughts on how businesses should
perceive the present economic situation and some tips
on weathering the storm. |
| |
|
|
Third, set priorities. In the book The 7 Habits
of Highly Effective People, author Stephen R. Covey talks
about urgent versus important. In times like today, I think
prioritization is important. Determine what efforts are urgent
and which ones are important. Then, structure your thought processes
and work activities to address the important issues that are
urgent.
Fourth, use this lull in the action to educate
yourself and update your workplace. If your operation is using
dated technology, study up on what's offered today and what
best suits your needs. Invest and train your staff so that
when the economy turns around, you will be in a much more
competitive position to gain additional marketshare.
Case in point: Recently while on vacation,
I met a longtime AutoCAD user. Ironically, his company recently
purchased some SolidWorks seats. He told me that the younger
users relished the new technology and migrated to it with
gusto. However, the older users were using the traditional
2D CAD system and methodologies as a crutch. With business
a little slow, we both agreed that this was a terrific opportunity
for him to force the change-resistant users to improve their
skill sets. Undoubtedly, this is the time to implement new
technology and conduct training so that when events do turn
around, companies will be in a competitive position and much
stronger.
Technology providers today are focusing greater
energy on forming collaborative partnerships, both for delivering
the latest advancements efficiently to end users and promoting
technology education. For example, Solidworks works closely
with Moldflow to deliver integrated solutions for the injection
molding plastics industry. Further, Web-based options abound,
make it easier to acquire new technologies and the training
necessary to use them to their fullest potential.
A few years down the road, when we look back,
I bet the winners out of this recession are going to be companies
that went the extra mile, made sound investments in people
and technology, and updated their product development environments.
Companies that take these bold initiatives will reap tremendous
rewards.
Lastly, maintain a sense of optimism. The
world is getting bigger every day and it will continue to
need technology. Tomorrow someone will launch a new innovation,
a new product, a new service, or new technology that will
allow us all to be more efficient. There is always going to
be that next level of innovation. Let me remind you that in
the late 1800s, some folks wanted to close the US Patent Office
because they thought that everything that could be invented
had been. They were so wrong.
|
