It is important for any company to know how to embrace technology. By taking a full advantage of the available technology, it is actually possible to reduce the effects of recession on our company. Recessions will eventually happen and while the market is progressing well, we should aim to embrace new technology to access a larger marketplace and gain greater profitability. The Internet is probably one of the most dramatic technology in human civilizations and it leads to thousands of new innovations based on online implementations. As an example, local retailers are able to tap into a bigger nationwide market by using the Internet. We should be able to transform the business by using the Internet based on its full potentials. Fishermen may freeze or smoke salmon, then sell their products nationwide. Prices should be adjusted accordingly, There’s no reason that we can’t reach out to any market, both national and international through Internet technology. This will help us to survive any kind of recession.
Effective implementation of technology can also be achieved through strategic partnering. There’s a huge pool of contractors who can deliver latest technology implementations. It is possible that our business doesn’t have enough resources to sustain a technological implementation. Strategic partnering could also offer us a package of services that can’t be delivered on our own. It means that we will be able to deliver many more things, even during a recession. Strategic partnering may include heating or air conditioning services, that can help to improve shopping experience or cool down servers in our local data centers. Strategic partnering also allows us to co-market our technological implementations. It means that we are able to deliver a more complete product for our customers. Technology could allow us to add product lines and services. Current products can be extended in terms of values and quality. Technology-based products could also ensure higher margin. As an example, Microsoft could reap huge profits by replicating their software.
Recession could actually produce a lot of opportunities. Many businesses have collapsed and some of those that survived may cut back on their overall production. Once the recession is about to end, there are a lot of opportunities to meet the newly rejuvenated demand. It is also a period of invention, because consumers may start to abandon older products that were common before the recession. Recession is a period when we hit the restart button and it is also the time when our best-laid plans often go awry. During a recession, we may stop gaining all avenues to obtain profit, Companies that are able to survive recession won’t need to cease operations and start new ones. After a recession, surviving businesses could get stronger, even compared to the condition before recession. During a recession, it is acceptable to barely cover the operational costs and this can be achieved if we have a number of advantages, such as excellent technological implementations. By being prepared, it should be quite easy to survive a global recession.