But it can be done. First of all, get your ship in order - both business portfolios as well as organisationally. Corporations have to become very clear about goals, objectives, businesses - and if necessary restructure and consolidate to achieve an effective shape. The days of big conglomerates are over. The Korean crisis has proved that.
Companies have to stick to core competences and acquire the right size.
During a demand slack, companies are forced to merge, says Harsh Goenka, RPG Enterprises. Strategic choices have to be made. Operations have to be streamlined, competitive advantages of the corporation and competitors have to be identified, non-value added activities junked, costs reduced and resources conserved. This is not only beginning to happen, it's going to become the order of the day. Next, get your organisation in fighting trim.