This crisis will eventually pass. And when it does, we want to have put our customers in pole position and be ready to take advantage of the resurgent growth opportunities.
The situation still could develop unexpectedly positively in 2020 so far, despite the permanently negative headlines in the global economy. And the benefits of digitization will become increasingly clear as the crisis unfolds.
Our recommendation: “Prepare for the rise in the storm!” … in addition to the measures required to ensure the immediate survival of the company:
- Increase “short-time allowance” for employees who are developing their skills within further training.
- Now is the time to initiate personnel-intensive activities. What has been left undone so far?
- Especially in the tools area:
- Prepare data
- Clean up tool stocks
- Think ahead. For R&D measures there are possibilities for funding by the Federal Government.
Go Digital! If you have not yet invested much in digitization and electronic commerce, why not set up an appropriate R&D program?