This is second of two posts about how executives, managers, and owners can prepare themselves for business after the U.S. presidential election.
Every time there is a presidential election, it seems as though the country becomes divided into two camps, each of which is sure that its candidate will bring economic good times and the other will be the ruination of the country.
As we mentioned in another post, there will be significant challenges for any business, whether Obama or Romney is elected. No matter what the condition of the economy, there are always opportunities. It might be from a new marketing strategy that attracts new customers. Innovation could result in products and services that are compelling and without significant competition. Or data analysis, such as combining geographic information systems (GIS) and big data techniques and technologies, can help you gain critical insights that can show a door to opportunity.
For example, when the major dot com crash came in 2001, Google was only a few years old. Amazon was founded in 1994 but was still years away from being profitable. And yet both companies went on to become major successes and help define the Internet industry.
Neither was an accident. Those in charge applied sound principles and the best data analysis at the time to find how they could move beyond others. There is much to learn from actually doing business, but to really thrive and excel, owners, managers, and executives need more. They need the type of learning and training that can offer the breakthrough insights that propel a business.
A good place to gain such understanding and expertise is in a contemporary MBA degree online like the offering from American Sentinel University. At American Sentinel, students begin with a sound foundation in management basics: managerial economics, business simulations, organizational behavior, finance, and strategic management. Those form the center of what is necessary to run an organization. But even that is not enough for the modern world, where companies must navigate the confusing combination of challenging economic times and rapid changes in technology and capabilities.