Thursday, October 16, 2008
Building reccession resistant small business : Part - III
Innovation is denoted as a fundamental trait on entrepreneurs. However, it is also seen as a byproduct of practicing creative disciplines, in some or other forms .The ability to govern ourselves and channelise our energies in creative direction will lead to building up innovative ideas in due course of time. The small business has to focus more on governing internal factors then on governing external situation in bringing changes, which could positively resist recession. The team and the entrepreneur plays a big role on differentiation the small business by practicing innovation, in every range of activities. With the growth of Science and Technology humanity is more aligned to govern the nature , then to govern themselves . This creates an essential misbalance in the harmony of inside and outside realities . We pretend to be more comfortable with outside realities then inner realities . Small business could not afford this kind of mistake . Though present financial situations shows that even big business and financial institution could not afford to do so. More safe side strategy for the small business, would be where entrepreneur changes himself first, to provoke change in the people around him . Later he could also transmit this changes to his supplier and customer . There is no better way to have sustainable change other than one, which starts from an individual and moves slowly, and gently towards the collective. Moving from self governance to corporate governance is the path which would prevent any form of personal and organizational recession to happen . This is more inexpensive and better way to handle recession in comparison to creating debt cycles and worsening financial situations.