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Hari kiran
Insight guru • 1m
Well crafted answer and great solutions . * Putting the problem in front of the board members for suggestions and considering their ideas is a vital thing. When any company becomes large in size, a founder can't be the sole person who would be able to manage everything. A founder can't be the only problem solver in the organization and sometimes a third person perspective can bring outside the box ideas which can help in the long run. *Your solution about the discussions with the employees makes absolute sense. It is important to honestly confess about the situations and using only those people interested to join the journey with the company during the hard times would not just avoid draining the margins for the company in the name of incentives also allows us to understand who are really interested to stay loyal to the company. *Strategic acquisitions to combat the new advancements in the market is a very underrated idea. It's important for the founder to understand that, he/she can't build everything from the scratch. Sometimes, using the cash in bank to acquire new companies can give the required push and momentum. Using the experience of the team from an already established company would allow the founder to use his focus more on other issues. Acquisition should be a symbiotic addition but not something that creates new problems and this happens only when the company being acquired is informed about the reasons & responsibilities very clearly.
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