Many business organizations would have felt and equated the events during recent times, particularly during 2008 with fighting a global war. Unlike the earlier world wars this global war is related to global economy.

In this war, the key and effective weapons are accurate and timely information, a proper understanding and statement of risk and the ability to manage and move ahead cautiously.

Normally best practices would have helped one to get over business competition in normal times. Right now every one is fighting for survival and hence appropriate business strategy is very much needed to deal with this global war. Only with such a strategy one can ensure safe passage.

Business organizations instead of succumbing to opt for freezing their operations or cutting back their growth strategies during this period should exploit the business opportunities.

Instead of looking at the present scenario and developing cold feet and fear as leading to an economic disaster or failure, one may view the environment as ripe with opportunity and initiate appropriate actions such as the following.

Scan the global environment for possible geographic expansion and investments such as asset acquisitions. They are available at a fraction of their original cost.

Exploit competitor weakness, positioning and uncertainty and lure exceptional talent relatively at a lower cost to company.

Go in for aggressive intensive competitive and growth strategies to achieve higher market share.

Partner with global market players in connected businesses and also with financial institutions to improve margins and ensure continued business performance

Leverage ability of the employees as it is only during critical times such as these, employees produce sterling performance due to fear of job loss

Invest in creation of new assets, new product development, and technology up gradation as the cost of capital is at its historical low.

Rethink and rework on achievements, expectations and targets. Set higher hit rate and win ratio. Only this will ensure maintaining margin and revenue objectives.

In my view, the present recessionary conditions will linger for some time. One of the optimistic forecasts has been made by Thomas Donohue, Chief Executive of US Chamber of Commerce. According to him, economic growth will start picking up from the mid of 2009.

Slowly and steadily, effective regulatory regime is taking over financial markets all over the world and in particular developed economies. Due to these external and self regulations one could see safe leveraging ratios setting in place in all the markets.

With the lowest trading and lending volumes already reached, it is now only one way to go. Market will pick up volumes slowly and steadily. An economic rebound is round the corner. Capital flows will regain pre eminence.

The best story of the current market conditions is the world’s developed economies and emerging economies still remain linked. Though protectionism has been advocated by a few, no one is taking them seriously.

Business attitudes are slowly rebounding and becoming positively aggressive. The need of the hour is global visibility, liquidity management and flexible technology solutions.

If the businesses survive this global war, they will make a big kill when the economic rebound takes place.

Are they ready