How should companies be positioning for recovery?
I think that companies have been very conservative and have been in hunker-down mode for the last few years. They’ve been reluctant to invest in their businesses and are worried about getting costs under control and getting through it. And that’s reflected in their communications. They’re watching their budgets, and some companies see communications as a sinkhole. But at some point, you’re going to get your costs under control. My advice is to start thinking about the upside before your competition does. Think about how the industry will look and how you will gain market share over the competition. The first people who start looking at the horizon—as opposed to at their feet—will have the advantage. You still want to stay as lean as you can. But this idea of saying “no” to opportunities in the name of cost cutting will not serve companies well. One thing you should look at in particular is internal communications. Employees are worried and insecure—and they need to hear from senior man
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