What Leading Indicators Do You Use?
Recently Fed Chairman Ben Bernake announced that the recession is probably over. Indeed, there are a number of signs that the economy may soon be turning around. But, once stung, many of us are loath to jump back in with both feet.
We’re waiting for the right moment to make financial, operational and other
types of commitments that will launch our business back into the new economy.
Depending on the industry and sector, different business people rely on different indicators to make these decisions.
My question is, “In order to determine when you will pull the trigger on important business decisions, what leading indicators do you use and why?
“Next in importance to having a good aim is to recognize when to pull the trigger.”
-Elmer G. Letterman
Senior managers meet for monthly budget reviews to discuss variances. In addition we use strategic planning for meeting existing and upcoming agency needs.
Our experienced managers know key legislative, other agency and funding source opinion leaders, thus, with a goal to keep a pulse on the "market".
Thanks for the question!
Reply to this
This is a good question, and I am finding that companies I am dealing with look at their industry statistics before determining all their options in making a decision. If they are aligning their business decisions with their goals and strategies and reviewing what's happening within their industry, they are more likely to make an accurate decision. More and more companies are looking deeper into the issues surrounding a decision due to the economic situation.
Reply to this