The Guardian on Monday was amongst a number of publications to report on a recent survey of finance directors/managers (Fears rise among leading firms that UK faces double dip recession, says Deloitte) that public sector spending cuts and slow economic growth around the world has caused business confidence to fall over the last few months. This has led to fears that we may be heading for a double-dip recession and will raise a number of questions about businesses growth prospects in the coming months.
There is one thing for sure, double-dip recession or not, no matter where you look around us, things are changing rapidly, whether business, economic, political or social. No organisation however big or small is going untouched. There are several outcomes of this if you own or manage a business or team. Here are some that spring to mind:
One of the outcomes of this type of uncertainty is that there may be more redundancies. Whilst it is saddening when this has to happen, many organisations, following a set of redundancies, can flounder and lack direction as they roll on in survival mode. But, what about the people and existing customers that still remain? How are they feeling? I think it is very easy in such times to focus on the present and try to minimise loss. However, what can get forgotten and is equally important is the future and the remains of your team and your customer base. I believe they still want to be motivated, they still want a purpose, they still want to be led and they still want to be taken care of.
Successfully navigating change can be a challenge but as leaders and entrepreneurs this is one of your primary tasks. Here are a few things to consider that, I believe, that you can do to help and boost your growth prospects:
A lot to consider? Perhaps. But, if you want to create a growing and thriving organsiation in this time of uncertainty and change, you might want to spend some thinking time about these points.
What else would you add to this list?
Thanks to svilenn001 for the photo