Thursday, December 9, 2010

"There is no doubt that past few years have been tough but some firms have survived in style"

There is no doubt the past few years have been tough but some firms have survived in style        

         In Calgary, Alberta businesses have been struggling to keep a float during the economic downturn. For instance, some businesses went from over 200 employees to six workers. Although the recession has caused problems for many, some have used this as an opportunity to prosper. Three of the businesses that have come out in better shape are Little Rock Document Services, Groundswell Group and Watts Mechanical Services. Although they have felt the recession, they did manage to come out of it in better shape than most competitors. They also earned nominations for the 2010 RBC Small Business of the Year Award. The main key to maintain the business and continue to prosper is to stay focused through good times and bad. During the boom times, instead of satisfying everything and everyone, businesses should concentrate on what they do best.
            Print shop Little Rock Document Services used this year to invest by opening store branches. They proceeded to save money by being more cost-conscious, for example, leasing equipment rather than purchasing it. They were able to gain more experienced employees as businesses in the industry started to close down.
            Focusing on areas of strength during challenging times is a great strategy to sustain growth and success of a business. This article has no bias but teaches us the right thing to do to maintain a successful business. It allows us keep in mind about continuing to do what we do best. 

4 comments:

  1. I am surprised that any business came out for the better from the recession. I think this shows that those 3 firms are going to be much better off than the rest as the economy recovers from the recession.

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  2. Considering that most businesses are still struggling to recoupe losses created by the recession, these three firms have definitely had developed a business plan that would be effective post-recession. Many other firms should be thinking about revising their business plan if business hasn't picked up lately.

    - Tim

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  3. The recession caused many business people to stuggle. But it seems to me that in the greatest dangers you can find opportunities. After all when you fell down to the bottom, your only choice is to to climb back up.

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  4. @ jimmy
    Yes, i do agreed the those three businesses will most likely be even better after the economy recovers.

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