If you ask what is constant in the business world, the answer is change. How do you deal with change?

1. Attach every change initiative to a clear purpose and goal. Change for change’s sake is stupid and enervating.
2. Change should be a relatively order process and to do that people have to understand why change is necessary and where the change is taking them.
3. Hire and promote only true believers and get-on-with-it types.Sometimes the best solution is to hire people who believe change is necessary to do the work.
4. Look for people who ask “Why don’t we ….”   These people have courage about the unknown and know if they fail they can pick themselves up and move on.
5. Ferret out and remove the resisters, even if their performance is satisfactory.
6. Seize Opportunities
7. When companies have difficulties, they have to sell divisions to pay their debts. Other companies can buy at bargain basement prices if they seize the opportunity.

Crisis Management

5 useful tips

1. Assume the problem is worse than it appears.
2. Assume there are no secrets in the world
3. Assume your company’s profile will be portrayed in the worst possible light
4. Assume there will be changes in process and people. No crisis ends without blood on the floor
5. Assume the company will survive, ultimately stronger for what happened.

Remember during the crisis the business still has to run and trust is what you need at every turn.

Linking to dividend paying stocks, every company faces change, although as long-term investors we do not want the company to do anything not to continually pay its dividend. One of the many ways to protect yourself is judge to see how the company handles change and how did it handle its last crisis. If you are impressed, and you believe they were doing the right thing, it is easier to make the investment.

There are more questions than answers, till the next time – to raising questions.