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Business strategy
Making business plans when the economy isn't doing well.
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[QUOTE="Leah Kelvin, post: 342763, member: 106815"] When the economy is in a process of recession, writing a business plan becomes an exercise in careful thought and strategic planning. The step-by-step manual entails evaluating the current environment vis-à-vis economics and industry analysis. It also involves relooking at the goals of the business along with short term objectives and long term vision. In particular to financial planning, budgeting that focuses on cash flow management and reduction in costs is key. Market analysis, customer segmentation as well as product and service innovation are needed to adapt to changing consumer behavior patterns and keep ahead of competition. [/QUOTE]
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Making business plans when the economy isn't doing well.
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