This is a management lesson from the streets but via Linkedin. I saw this post by one of my contacts and realised that there is lesson to be learnt from here.<\/p>\n
During times of recession or low sales, what does a corporate do? This is what I think they do:<\/p>\n
1.Cut costs \u2013 reduce advertising and training costs.<\/p>\n
2.Cut prices.<\/p>\n
3.Offer extended credit, even to un-credit worthy customers.<\/p>\n
And, what does the man on the street do?<\/p>\n
1. Advertise more \u2013 the Paytm (E-Wallet) ad is proof of this. And I am sure he has invested time in learning how to use Paytm.<\/p>\n
2. No credit extension \u2013 Just offer a better and easier way to pay. And I presume<\/p>\n
3. No cutting of price. With this facility the hawker may even be charging a premium. And no one would even bother to negotiate.<\/p>\n
So, do we need a business degree to teach us what to do in tough times?<\/p>\n","protected":false},"excerpt":{"rendered":"
This is a management lesson from the streets but via Linkedin. I saw this post by one of my contacts and realised that there is lesson to be learnt from…<\/p>\n","protected":false},"author":1,"featured_media":50,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"yoast_head":"\n