Failure Decoded
Failure Decoded
Power Up: Exploring new business opportunities to navigate the global financial crisis of 2023
In this episode Dr Pradeep Kumar Sacitharan shares his experience and insights about the current Global Recession and how it has impacted different sections of the society and businesses. The year 2023 has seen the collapse and failure of some of the biggest banks in the United States of America and the European countries are experiencing rising cost of living that has left many people food insecure.
The resilience of an economy is influenced by numerous factors, and it's important to recognize that the economic performance and resilience of a country can be influenced by a wide range of internal and external factors. This conversation dives deep into the different business sectors impacted by inflation and how pivoting and building stronger business systems could be the way forward to avoid failure and build stronger and powerful economies. So let us Power Up.
Show Notes:
3:00 Not everything is in our control, not even the looming recession however, our response can control the outcome.
4:00 Covid, disruption of the supply chain, impact felt by consumers and challenges for entrepreneurs.
9:12 Offer the best quality products at a good price to the customers and do not cut corners.
12:57 Tips to invest in commercial real estate at this time.
20:28 The challenges faced by the food industry and rise of food insecurity.
22:57 Import and export strategies to implement now.
26:08 Establishing new and ethical export trade deals with developing, resource rich countries can prove to be lucrative.
33:05 Business is a numbers game, building strong networks takes time and hustle.
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