Downturn? Invest in Human Capital
I totally agree with this view. Invest in all your assets, customer relationships, branding, processes and people. This is not true for consulting firms alone but for all business. According to this ConsultingMag article:
Romil Bahl, the President & CEO of business advisory firm PRG-Schultz, says —adopt the strategy today’s leading firms followed during the last downturn. Rather than retrench for survival, invest in growth, especially in the talent that will be the engine of that growth. "Firms that have the P&L strength and ability to invest into a downturn,” he says “invariably come out stronger."
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Investment in 'human capital' will certainly help a company to face this economic downturn effectively!!
Absolutely true. People, their knowledge and their relationships are the best source of sustainable competitive advantage, BUT
Note the qualifier in Bahl's quote: "Firms that have the P & L strength …"
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