Engineering and R&D are often critical to the long-term value of a company, yet they consume precious cash during a downturn. How can a company preserve long term value while still managing cash?
During extreme economic uncertainty a business must be prepared to have both a Deliberate defense and a Focused offense.
Fear, uncertainty and doubt is to be expected in the current state of the nation and world. Media (even remarkably ESPN) is eating it up and has a permanent “Breaking News” banner flashing and afixed to the bottom quarter of your television screen. With the sequestering and our newest oxymoron “social distancing” of Americans including working from home to flatten yet elongate the infection curve, this pandemic is an opportunity and quite frankly a necessity for your marketers to be master communicators. The world needs Thought Leaders right now as the economy is in chaos.
Crisis, our stakeholders need our leadership to Get to the Other Side. Very few events in our lifetime create such uncertainty. The ability to navigate a disaster and the number of mind-numbing scenarios is a true test. Yet, human nature is to react as business is usual. Instinctually we gravitate towards day-to-day decisions. The situation demands leadership and action: assess, measure, and react.