Executive Forum
Former General Electric CEO, Jack Welch, recently laid-out what he sees as the keys to survival in the current market environment. Here's an overview:
1.) Get your house in order. Recognize that "cash is king." Get your costs in-line. De-layer, by getting rid of bureaucracy. You will have then gotten your business 'positioned.'
2.) Communicate to your constituents (like you never have before. over and over again). Let your employees and shareholders know what's going on. And keep doing it, constantly.
3.) Take care of your best people. Your team -- your people -- are your most important asset. Your 'best' people are even more important. Show them the (genuine) consideration they're entitled to getting from you.
4.) Look at your competition. Know who your competition is, and even who your competition might become. Know who they are, where they are, what they're doing and what they're going to be doing. to the greatest extent possible.
Source: Investrend Forums (http://www.investrend.com/articles/article.asp?analystId=0&id=94556&topicId=127&level=127)
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