Media companies always look for the right balance between quality and short-term profits. Quality requires big investment in several areas: production, good supplies, research and innovation, distribution, customer service and on top of everything… people.
When recession arrives, managers tend to cut expenses. Some of the “cutting” is healthy: in fact, the crisis are excellent excuses to get rid of inefficient people and innecesary burdens. But the danger is to cut to much, to destroy the organization’s muscle.
When the crisis arrives, the goals should be i) short-term survival, and ii) to arrive at the end of the crisis helthier and stronger than rivals. Companies that “at the end of the tunnel” have not not big debts, preserve the prestige of their brands and keep their teams happy and motivated have good option to capture a big part of market´s growth. In times of crisis, managers should have drive and inspiration to keep the balance: they should reach the financial targets while protecting quality.
