How do you define core competencies? Have they changed since the downturn of the economy, or have you forgotten they even exist? For businesses to survive the continuingÂ economic crunch, they must revisit and refocus on core competencies. After all, they are what your business was built on in the first place.Â Take a hard look at everything inside of that core, and possibly even redefining your core competencies. SmallBusinessNotes.com published an article with helpful tips on surviving the economic downturn that I would recommend any business owner read. If you can successfully refocus on your core competencies, you will come out of this downturn a stronger and more profitable business.
If you were a lion in Africa, at the top of the food chain and you had to find a way to survive a sustained drought, you wouldÂ change your hunting grounds, or you would perish. What would you choose?
Change is necessary to survive this down turn.Â
Its not even close to business as usual.