THE CHALLENGES OF RUNNING A PROFITABLE BUSINESS IN A DEPRESSED ECONOMY

In this booklet, we will examine the major challenges facing running a profitable business in a depressed economy, and propose remedies for them. As said initially, running a profitable business at this time is a function of business management, which would depend largely on the entrepreneur's learning and mastering its rudiments, such as leading, delegating, organizing, control, finance, hiring, dismissing, marketing etc. These are the indicators of the wellness or otherwise of the business. Improper handling of any of these elements of business management can undermine the profitability of the business and may very well be an indication of the beginning of its retardation or death.

It is my firm belief that in this booklet, your attitude towards your business would receive vitality and your minds will be renewed to embrace the vast untapped potential, capacity, and effort of your resources - your staff, their talents, commitment, involvement, and empowerment.