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Post by David Wyld on May 29, 2013 5:34:36 GMT -6
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Post by franklinvazquez on Jul 11, 2013 14:37:00 GMT -6
INSTANT MBA: Don't Become Paralyzed In The Middle Of A Crisis
I believe that by not following the advice of this article, many companies failed during the last economic recession because managers did not act promptly. Time is valuable for any company, and from a business perspective, the time value of money represents one of the main principles of Finance, which holds that the one dollar today is worth more in the future. Following this idea, businesses have to seize investment opportunities quickly, and managers need to make financial decisions at the right time. During a crisis, there is not room for doubts; good leaders should not be afraid of making drastic decisions that will help a company survive an economic turmoil.
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Post by campbell22 on Jul 19, 2013 10:33:19 GMT -6
INSTANT MBA: Don't Become Paralyzed In The Middle Of A Crisis I like this article. I think one of the worst things you can do during a crisis is nothing. By doing nothing you're not getting any closer to fixing it so you should at least try something. I see it as, you're already in a crisis so if the decision you make to try fixing things actually makes things worse then who cares, things were already bad, but if that decision turns out to be the correct one then you're looked at as the hero. During a crises, one should work harder to try and fix things, not stopping until he comes up with a solution for the problem.
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Post by elvia on Jul 19, 2013 11:29:22 GMT -6
INSTANT MBA: Don't Become Paralyzed In The Middle Of A Crisis
A Lot of businesses can benefit from the advice in this article. During any crisis a decision needs to be made immediately. Yes, you are in the middle of a crisis, and yes, things are crazy and you don't want to make the wrong decision, but the bottom line is a decision needs to be made in a timely fashion to prevent damage that can't be repaired. Managers should be able to make decisions during a crisis just as effectively as they would before. No manager should be afraid to make a decision that they believe will help their company survive a crisis. Quickly collect as much information as you can then make a decision.
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Post by jalesianelson on Jul 19, 2013 15:11:39 GMT -6
Instant MBA: Don’t Become Paralyzed In The Middle Of A Crisis As a leader, being able to make decisions during a crisis is essential. Fear will not help your company overcome what lies ahead in the fog. This article expresses what should have taken place in the most recent recession, and because they did not do this, a lot of companies went out of business. Every entrepreneur should read this article and take note to what should be done in a crisis, because the worst thing you can do is nothing.
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Post by Deleted on Jul 22, 2013 10:10:51 GMT -6
INSTANT MBA: Don't Become Paralyzed In The Middle Of A Crisis
Making decisions on the whim is the definition of being a manager. In such a fast paced society, no one wants to wait. Making these decisions early and as frequent as possible will help you make better ones when the time arises. Do everything in your power to have the situation come out in your favor and life will be better than what you expected.
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Post by lydell on Jul 22, 2013 10:40:46 GMT -6
I think one of the worst things you can do during a crisis is nothing. By doing nothing you're not getting any closer to fixing it so you should at least try something. I see it as, you're already in a crisis so if the decision you make to try fixing things actually makes things worse then who cares, things were already bad, but if that decision turns out to be the correct one then you're looked at as the hero.
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Post by harrisonrainwater on Jul 23, 2013 14:27:48 GMT -6
INSTANT MBA: Don't Become Paralyzed In The Middle Of A Crisis
It is important to remain vigilant in the time of crisis. If you get too caught up in the bad side effects of a crisis, it can cause the problems to worsen. Crisis causes a lot of negative emotions but must be controlled. The only way to move on from a crisis is to be willing to take the necessary steps needed to succeed again. Take a step back, look at the situation from a broad perspective, and establish a course of action that you and your team feel suitable and appropriate.
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Post by neilthompson on Jul 23, 2013 19:47:29 GMT -6
INSTANT MBA: Don't Become Paralyzed In The Middle Of A Crisis
This is a great article. I have also had a manager that often warned of analysis paralysis. It is very important to gather and analyze data in a crisis, but there comes a time when you have to make the call that you have enough data to move with your decision. If you continue to gather data and never make a decision, the situation will likely worsen or at the least it will just end up at its own ending point. This will most often not work out well and will render you very ineffective.
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Post by kylekling on Jul 24, 2013 9:50:07 GMT -6
INSTANT MBA: Don't Become Paralyzed In The Middle Of A Crisis
In a crisis you must show the people around you that you are not phased and not worried. If they see that you are worried then they will be too, but if they see you are calm they will follow suit. Being able to make quick decisions in tough times is what separates the good leaders from the great ones. Even though it might be a scary situation, as a leader you need to stay calm and make the best decision possible, but also make it quickly. You don't have time to sit around and think about for a long time, make a quick decision, and if it doesn't work then quickly make another one.
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Post by scotthunt13 on Jul 24, 2013 10:05:07 GMT -6
INSTANT MBA: Don't Become Paralyzed In The Middle Of A Crisis
It's important not to show fear in the middle of a crisis. It's alright to be scared, everyone else is too but don't show it to your employees. They need to know that you're cool, calm, and collected and going to do something to fix the problems. Show them that you have everything under control and that there is nothing for them to worry about anymore.
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Post by blaine on Jul 24, 2013 20:09:20 GMT -6
It is important for leaders to know how to react when their is a crisis within their business. They have to have confidence in the decision that they are making and know what is best for their business. They have to know how to make the right decision for their business as well. They should also be able to seek out advice from other leader or people who are in the same business as them. It is always good to seek advice but only the leader knows what is best for their business and they have to know that they can make the right decisions for the business.
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Post by anthonytaormina on Jul 25, 2013 8:18:35 GMT -6
Alt link 98: INSTANT MBA: It's Survival Of The Fittest, And Your Business Has To Evolve
Being stuck in your ways is not a great way to be successful in todays economic climate. At one time by doing things the way they had always been done was good enough for a business to survive, but with technology advancing exponentally, and break throughs in the science of business you have to adapt and be prepared to make changes.
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Post by cmbrogan on Jul 25, 2013 14:12:53 GMT -6
INSTANT MBA: It's Survival Of The Fittest, And Your Business Has To Evolve
In order to be successful, a business must be prepared grow and evolve to appeal to their customers. Changes and adapting to the public's eye is important to maintain success because other competitors are trying to put others out of business. The corporate world is competitive and only the strongest corporations with good business plans will be able to compete daily.
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Post by mda1287 on Jul 25, 2013 16:29:07 GMT -6
INSTANT MBA: Don't Become Paralyzed In The Middle Of A Crisis
Some hard times will come along in business, and you want to be able to work through it. By all means take the crisis in and battle through it and then keep working. The more that you think that you can't move on you won't, it is all in your head and you have to just bear through it.
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