A Few Private Sector Lessons for the City of Coral Gables

The City of Coral Gable is not following some of the most fundamental of preceps and experience of well managed private companies during a recession:

–Don’t be surprised by a recession by not having reserves and a backup plan;

–Most importantly, take advantage of the crisis to take the enterprise along a different path, reexamine it culture, evaluate its leaders, and refocus and strengthen services to consumers;

–During bad economic times, cut costs to retain the core staff;

–Cut way back on capital expenditures.

–Streamline the organization and its structure, including the redefinition of questionable units;

–Focus on the core values and services of the enterprise;

–Rethink the future path of expansion of the enterprise, there may well be a different path to prosperity in the future, very different from the past;

–It is a good time to refresh the staff with new ideas and training, and outstanding managers;

About Stephen E. McGaughey
International consultant in economic development programs and projects

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