Firms focus on cuts, not new products.

March 30, 2010 at 6:18 pm Leave a comment

Few companies that expect profits to decline this year seem to be planning to remedy the situation by introducing new products or services, according to a McKinsey executive survey. Those weakened companies appear to be focusing more on cutting operating costs. The good news is that most executives see a brighter year ahead: Some 74% of the respondents say they expect their companies’ profits to rise over the next 12 months, up from 46% in December 2009.

from Harvard Business Review | Daily Stat | March 29, 2010

What weakening companies are doing.

This may be what a majority of companies are doing, but have they made the right decision? My sense is no. A death of a thousand cuts is eventually fatal. I encourage you to look at your options and make the right choice. New products and new messages to existing customers and new prospects maybe the only way to keep them buying. — KS

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Entry filed under: management, strategic planning.

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