Question

How could a new enterprise system (or a major upgrade) be justified during a difficult business climate like a recession?

Answer 1

During recession understanding the gravity of the situation and turning it favourable for the business is all that matter to difficult Times. here are a few tips to stay connected and throat during the recession.

Maintaining healthy relationship with contracted parties:- it is understandable that it might be difficult to pay out suppliers during the lockdown recession. Hi where it would be helpful to give your vendors are suppliers are landlords , sufficient notice in case there is going to be any delay in payments so that they can also be prepared and there is no bitterness in recession period.

Communicate transparently with your customers:-
we are all in this together so the ideal way is to stay transparent with you are consumers about what your business is going through. Consumer scan impetus ise with companies facing a crisis as long as the communication is transparent.communicate with customers to understand their perception of the product offered by you.

Managing employees and relate optimisation.:- when the time come to make the tough call duet with compassion look out for government directives and offer extra compensation as and when required.search implementation should be carried out only once and not in stage such that it does not affect employee morale.

Communication to shareholders:-
Consult with your investors or external exports to plan the right form of communication with stakeholders most importantly customers and employees. Have and honest conversation on the situation and it impact on your business with your entire leadership team. Any negative message should be delivered with utmost empathy along with transparent reasons.

Keep your team engaged:-
your team relies on you so keep them updated about every development.as promoter it is your responsibility to keep your team members engaged and stay connected with them through video conferencing. it is very important to maintain high spirits within the team and understand the general mood within your remote workforce.

Why this way new enterprise system be justified during difficult business climate like a recession.