Different Ways of Confronting the Crisis

Truism: management practices for businesses during times of crisis cannot be the same as those used during boom times.

Tuesday, June 23, 2009

Even though Panama appears to be doing a better job of dealing with the global crisis compared to other countries in the region, signs of a slowdown are clear. Commercial activity has decreased nearly 10% in the first quarter of 2009.

Panamanian companies react to the crisis in different ways, with two things in common: innovation and change.

In an analysis in an article in Martesfinanciero.com, Mario Muñoz and Kerem Pérez note that, “Innovation, penetration of new markets, and the search for alternatives are some of the activities that companies are doing right now in order to rise above the crisis and maintain themselves in a competitive market.”

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