Managing to Succeed in a Challenging Environment

With 2010 well underway and the economy improving slowly, we find ourselves recovering from one of the most challenging business environments in memory. The natural tendency has been to delay, retrench and hunker down, postponing new initiatives until the brighter days that lie ahead. However now is the time that savvy executives and managers take decisive action, not just to continue watching costs, but to manage smarter. There are many cost-effective steps that you have probably already taken to improve business performance, enhance cash flow and add to the bottom line. Did you target the highest potential business and promote the most profitable services? Did you reduce your aged receivables and invoicing lag? Did you renegotiate outdated vendor agreements to obtain better prices and terms? You've weathered the storm and now it's time to implement high-impact management initiatives that promise a tangible result.