TheEcole Polytechnique” issued a report on “how to manage in a downturn’. Here are a few excerpts :of the famous french “
â€¢ Urgency does not mean lack of vigilance : state of urgency makes people focus on short term which bad effects are know…on long term. Moreover, enterprise compartmentalization and a hard context lead to a strong deterioration of communiation. At last, blind faith in systems disconnects managers from reality.
â€¢ short term and lack of markers. The contractual short term logic destroys people’s markers and confidence disappears.
â€¢ Innovation is key to survive a downturn. But it will have to be cooperative and operated inside alliances, with partners.
â€¢ Intangible assets are a source of differencitation and development. Companies must identify therm and build their new strategies upon them, using new appropriate dashboards and indicators for this paradigm.
â€¢ Digital as a tranformation lever : companies underuse the capabilities new technologies offer and don’t reinvent themselves because of overcautiousness and fear of changing era.
â€¢ Maintening the links with the ecosystem in crisis time is very important, knowing that it’s a time of high customers volatilty and that the public opinion will try to analyze even the weakest signal. Mastering one’s communication and information will imply to use tools that allow this new form of transparent communication.