Retain mindfulness to regain the momentum

 All these caused concern, resulting in a drastic drop in Private Consumption Index, Business Confidence Index and Manufacturers' Confidence Index, and took these indexes to a new low since September 2001.

Could this really be an economic crisis again or another recession in the wings? Yet, before anything happens, we refrain from carrying out operations and put our activities on hold. The uncertainty and economic turmoil often cause anxiety that eventually gets magnified to turn into panic situations.

My question is, do we exaggerate and steer the condition to get worse? Yes, I am addressing the psychological impact that causes things to be worse than they are. Instead of panicking, afraid of what we cannot control, would it not be more productive to focus on what we can do at this difficult time to prepare for the worst?

Problems and crisis can be chaotic and frightening, especially the uncontrollable ones. The most sensible way to anticipate the unpredictable shortfalls is to stay calm and focused. Through mindfulness, we can rationally regain our momentum. But how much can we control? Plenty.

Let us start with good planning. A professional company usually has a clear business plan with an efficient information system, whereby data is always at the staff's fingertips. A good plan should include the best- and worst-case scenarios, with focused business strategies that can be adapted to changing environments.  

Next is pragmatic management. It can be controlled and is crucial. Effective management contributes to corporate growth, leverages creativity and potential to actuality and can compete globally. 

Equally important is staff competency development. Once a crisis hits, it would be too late to start empowering people. A good leader, therefore, must keep his or her team at their best - sharp, equipped and ready for all situations. 

There is a lot more we can do to strengthen corporate preparedness. If your company does not already have a strategic plan to control situations, make one. Just retain mindfulness and regain momentum, the crisis is already half over.

Kan Trakulhoon is president of Siam Cement. Follow his article every first Monday of the month.