1. ENG1023/WRITING SUMMARY
THOUGHTS FOR SUCCESS
The mind is a powerful thing. You need it when you are facing challenges in business. It helps
by boosting your confidence when facing tough times aided by the right mental tools. All of us
have conscious and subconscious mind. Subconscious is the one that identifies the decisions
and the conscious mind will be the one rationalising the decisions, choosing which is best. After
the thinking, you determine your long term vision and mission which is the first principle to
success. To be successful, businessmen need to understand that we are a mind with a body not
a body with a mind
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2. ENG1023/WRITING SUMMARY
MAKING SURE IT’S BUSINESS AS
USUAL WHEN DISASTER STRIKES
The Singapore’s government has developed a standard called Business Continuity
Management to help businesses when disaster strikes. The BCM Institute’s president said that t
is important to have a crisis management plan but it is more important to exercise it. According
to him, if you don’t have the cash, having personnel who is familiar with the BCM also can help
the business. Organisations should hold a table top exercise or have one or two senior
managers who certified in BCM before applying a business continuity plan. Corporate leaders
should do everything to ensure their business running as usual even if disaster strikes.
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3. ENG1023/WRITING SUMMARY
THE HUMAN ELEMENT IN
ECONOMIC TURBULENCE
Firing employees is normal when it comes to downsizing. However, a company will usually look
for other alternatives in order to not disturb the financial flow of the company. Freezing salaries
and not giving bonuses is better than releasing employees. To replace bonuses, things like
employees benefits may be given to ensure the loyalty of the employees. When downsizing, you
need to analyse a lot of things like organisation’s current structure or the people and the
competencies needed in order to restructure the organisation. Facing a financial crisis is indeed
hard but usually another growth phase will follow right after.
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4. ENG1023/WRITING SUMMARY
THE CHANGING FACE
OF OUTSOURCING
Outsourcing can help to increase business performance but very few are able to successfully
apply it to meet their clients’ expectations. Outsourcing is a useful strategy in a market where
things that leads to a rapid change exists. Businesses have BPO or Business Process
Outsourcing which not only help improves their cash flow, but also the growth of the business as
it improves workforce productivity, assisting with post-merger integration, optimising application
and streamlining IT operations. Outsourcing seems like the best strategy to have when doing a
business as it helps in the growth and financial management of a business.
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5. ENG1023/WRITING SUMMARY
SHOPPING IN TOUGH TIMES
During a recession, shoppers will want cut their spendings and to them, to do so is to buy less
while some go for the cheaper brands. They are actually testing the relationship between them
and the brand. Most of the time, they shift to a private label because it feeds their basic needs
and wants. Shoppers nowadays buy products based on experience so marketers should offer
something that persuades them. Shoppers like to pamper themselves but sometimes, they also
wants to know what they are spending on. After the recession, a new generation of shoppers
will be born, a smarter generation of shoppers.
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6. ENG1023/WRITING SUMMARY
EXECUTIVE SUMMARY
After going through all the five articles, I have found out that all these articles are teaching
businesses on how to survive and get through tough times. These articles taught that even
when we are facing a hard time, it does not mean that we can’t get out of it. We just need to use
our heads and find the solutions which most of the time we oversee because we humans
normally will just try and ignore the problems instead of facing them. There are plans that are
developed everywhere around the world to help their country’s businesses to survive the market
and to survive the world.
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7. ENG1023/WRITING SUMMARY
CONCLUSION
As a conclusion for these five articles, we conclude that businesses around the world faces a lot
of challenges during the time of their business are running. Fortunately, a lot of countries came
up with various business plans like for example the crisis management plan to help businesses
to reconstruct after disasters. As we live our lives every day, the same goes to the businesses.
They also have the life of their own and like us, every day they are living. From the largest to the
smallest of business, they are running to serve us, to satisfy our needs and wants. These
articles taught us to be prepared for anything and also taught us that in times of hardships, you
should never give up and still continue to do your best to serve the people who are already
buying from u and potential customers. Life is like a wheel, sometimes you’re up and sometimes
you’re down but if you don’t try to move when you’re down, then you will stay down.
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