BUSINESS STRATEGY – Response Towards Global Financial meltdown

The Global Financial Meltdown:  Should it be a wait and see Altitude for Business?

As the adage says “Your attitude determines your altitude.” I am tempted to imagine that this adage applies to Kenyan CEOs more than ever before. Right now, many of them are closing their fingers and waiting to see the trend of the economy. Worse still, we were just coming out of the woods after being slowed down by political crises of 2008. In the meantime, there are neither new investments nor even commitments in most organizations. Some have cut down on any expenditure that relates to any non core activities. Others, as we have learnt have already started retrenching staff aiming to reduce spending.

Indeed, most CEOs are seemingly trembling in FEAR and are at the same time unsure of what is likely to happen to organizational performance, which determines continuity of requisite contracts. But, as Brian Tracy puts it, fear is confronted with courage, a step at a time. Do not get cowed by the situation. FEAR is in any case said to be FALSE EVIDENCE APPEARING REAL. We need to realize that every threat corresponds with opportunities and vise versa. In death for example, there is business for the morgue and hearse services. As dry weather spells doom to majority, it is big-time business for water venders and borehole owners particularly in the City. Strategy concepts indicate that business MUST continue successively in both good and bad times. Let us all embrace strategic thinking rather than adopt a wait and see attitude. Indeed, we must refuse to be victims of FEAR. In any case, are we not players in the same economy that we are leaving in the hands of others and not our own?

Advertisement