I just came across an e.mail explaining about, what is recession?.
The subject of the e.mail was : Story
Here is the story & followed by my opinion on the recession.
What is recession?
This Story is about a man who once upon a time was selling Hotdogs by the roadside.
nHe was illiterate, so he never read newspapers.
He was hard of hearing, so he never listened to the radio.
His eyes were weak, so he never watched television.
But enthusiastically, he sold lots of hotdogs.
He was smart enough to offer some attractive schemes to increase his sales.
His sales and profit went up.
He ordered more a more raw material and buns and use to sale more.
He recruited few more supporting staff to serve more customers.
He started offering home deliveries. Eventually he got himself a bigger and better
stove.As his business was growing, the son, who had recently graduated from College,
joined his father.
Then something strange happened.
The son asked, “Dad, aren’t you aware of the great recession that is coming our way?”
The father replied, “No, but tell me about it.” The son said, “The international situation
is terrible. The domestic situation is even worse. We should be prepared for the coming
bad times.”
The man thought that since his son had been to college, read the papers, listened to
the radio and watched TV. He ought to know and his advice should not be taken lightly.
So the next day onwards, the father cut down the his raw material order and buns, took
down the colourful signboard, removed all the special schemes he was offering to the
customers and was no longer as enthusiastic.
He reduced his staff strength by giving layoffs. Very soon, fewer and fewer people
bothered to stop at his hotdog stand And his sales started coming down rapidly, same is the profit.
The father said to his son, “Son, you were right”.
“We are in the middle of a recession and crisis. I am glad you warned me ahead of time.”
Moral of The Story: It’s all in your MIND! And we actually FUEL this recession much
more than we think we do!!!!!!!!!! !!
What can we take away from this story??
1. How many times we confuse intelligence with good judgment?
2. Choose your advisors carefully but use your own judgment
3. A person or an organization will survive forever, if they have the 5 Cs
* Character
* Commitment
* Conviction
* Courtesy
* Courage
The tragedy today is that there are many walking encyclopaedias that are living failures.
The More practical and appropriate views on this economic recession is:
“This is the time to reunite together for any small or a big organization,
this is the time to motivate and retain people which are the biggest asset,
this is the time to show more commitments to the customers,
this is the time show values of our company to the world,
and this is the time to stand by our Nation”.
My Opinion :
The economy, organisational behavior & personal behavior, are all completely
different now, than it was before 2002.When we study business management,
a basic rule is thought, that Business has a Life Cycle. The up cycle will be
followed by a proportionate down cycle.The recent up cycle was extra ordinary,
naturally the down cycle follow the same way.
To talk about business, There is one thing clear, Man want to make money as
Quickly as possible, in fact over the night & want to become billionaire. Is not it so?
As long as we do the business the natural way, dont desire to make too much
of money, when there wont be too many selfish business CEO’s, & speculative
business markets, then we will be finding a real econmay be we could see that
in couple of years .
If something really we can do at this time, to manage our economy…………
– Reduce the prices globally
– Give flexible payment options
– Don’t commit too much salaries & do sack them followed by a worry.
– Spend as much as possible, but be realistic to the prices we buy.
– Request Central banks to print more papers
– Liberalize loans to Individuals & companies (assuring employee count.)
Write your comments & views below on how to handle this situation, in other terms a life cycle. Is not it?