This article by Sanjay Kirloskar, President, AIMA was published in ‘The Hindu Business Line’ on 26th October 2019.
Managing business has only gotten tougher, as the domestic economic slowdown has added to the challenge of technological and trade disruptions. India’s economy has been slipping for a few quarters, and expectations for the future are tinged with Worry. Quite a few sectors are feeling the pinch, and it has become a challenge to achieve growth or even sustain performance. However, bad times are good for house-cleaning and reorganisation. The pressure to survive can be used to become fit for growth.
It is instinctive to retreat into a shell now, but it is not a safe option with the business environment changing fast. A scramble to save money only fulfils the prophecy of doom. Worse, it damages the organisation’s vitals. As Warren Buffet said: “When others are fearful, be greedy”.