Back
SHIV DIXIT
CHAIRMAN - BITEX IND... • 1y
Professional Business Concepts— 3 “ Business Hibernation Strategy ” Business Hibernation is same as animal hibernation , in this process you just need to survive the period of huge problems and Competition. In this process you need to cut few things from your business and wait for favourable condition 1=} Calculate the market conditions and how it will last 2=} Calculate the impact on your business and revenue 3=} Cut non essential cost 4=} Start negotiating or anybody for better terms 5=} Slow down operations 6=} Stream like everything and focus only on core products 7=} Manage your work force 8=} Reduce less important employees 9=} Reduce working hours and salary 10=} Communicate with your team and tell your problems 11=} Manage cash flow and seek for financial help 12=} Only operate core products that give profits 13=} keep in touch with your loyal customer base 14=} Rebuild everything and with detailed analyse of every problem 15=} Reduce debt and slowly start
Replies (4)
More like this
Recommendations from Medial
Looper
If nothing goes righ... • 7m
I hate people cutting off conversations to be long and having a clear debate or knowledge transfer. In India, people are ashamed of having a core-level conversation on anything. They just cut off the topic to avoid sharing their experiences and persp
See More
Kunal Insa
Let's build somethin... • 7m
Loss Management in Business 1. Risk Assessment: Identify and evaluate potential risks. 2. Cost Control: Manage expenses to reduce unnecessary costs. 3. Insurance Coverage: Protect against unforeseen events. 4. Quality Management: Ensure high prod
See More
Download the medial app to read full posts, comements and news.