How to Bounce Your Business Off the Bottom
Businesses can decline over the years until they no longer have enough working capital to maintain their current course of action . Without drastic change , the business will either be sold or liquidated in bankruptcy court . Change requires a new way of thinking about things , taking risks and making better strategic choices that lead to higher outcomes . Organizations operate on processes & procedures . The culture of an organization will determine its overall communication and work patterns . When processes & procedures and culture are aligned to market needs it becomes more likely that the business will be able to pull out of its current predicament . Consider a company that produces a single product that once brought in a lot of money but over the years alternative products have been developed by competitors that are eating away at a shrinking market . Continuing to do the same thing