Monday, March 02, 2009

recession survival skills or business best practices?

A popular magazine came out with an article such as "5 recession survival skills". I condemn this approach of journalists to fill up pages for selling their magazines. 

The points mentioned in this article are good business practices to use even in good times - not just bad times. I fail to understand why would anyone spend more than necessary amount even in good times. In business, thrift has to be a way of  life and a mindset. However, such organizations cease to exist due to their excesses in costs. 

Of course, there are organizations where inefficiencies are in-built and a part of the culture. The case in point is Citi. I had blogged about them way back here