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A slow economy means that its not just the demand and market is slow but organizations tend to slow down in most things unless they are getting an order or getting paid! This time is a lost opportunity-because a slow economy is really a good time to upgrade your thinking (even if company training budgets are well-slow) around your value chain. Here are two things to do to improve your organization's "sense and respond" ability:
- On the customer side, don't get stuck on just talking about orders. Try to explore how your customers' market is changing. Talk to your customer's customer if possible. This should give you great ideas of what to change in your offering.
- Take the time to talk with your suppliers both existing ones and
potential ones. If you listen you'll find amazing insights – and you
don't really have to place an order but you can get a good sense of how your suppliers can help in meeting the changing market of your customer.