Success in 2010 Will Hinge on Efficient Execution of Strategies
January 4th, 2010
On the first business day of the year, we are all hopeful and optimistic for a successful and prosperous year, especially after the difficult environment we’ve recently experienced. However, while we may yearn for the easier environment we previously enjoyed, it is more likely that we will settle into a new normal environment, characterized by increased competition and thinner margins.
In some sense, this seems right, since the asset management industry enjoyed out-sized margins for many years. But it will require sharpened skill sets and new tactics. Resources will need to be deployed efficiently, minimizing waste. All logical alternatives for accomplishing tasks and executing functions should be considered, such as appropriate outsourcing. Strategies must be focused, based on careful planning, and executed crisply.
We all hope this year will bring an easier operating environment. But we must be prepared for continued challenges to come.
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Sanjeev Sharma | January 14th, 2010 at 3:48 PM
I personally feel that the Malthusian principal applies to economy and businesses as well – in the times of abundance we become lax and let costs and efficiency move in opposite directions – costs go up and efficiency becomes victim of complacency. Thus recessions are required – to remind us that we must be efficient in all respects. And more importantly at all times.
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