When someone experiences a crisis, it is natural to stop engaging in activities. This is especially true if the crisis feels too heavy and recovery takes time. For example, if a company experiences operational problems, it may need to tighten operations, reduce unnecessary activities, stop expanding into new businesses, and even stop strategic planning.
On a personal level, for example, if someone is experiencing a financial crisis, they may choose to save money to the fullest and stop all plans that involve spending money. If someone is in a position without money, they may take drastic action to stop thinking and planning anything that involves spending money. Although this seems true (especially compared to people who are in crisis but still go out and shop around freely, even if they have to borrow again), it can be dangerous in the future as they stop their personal development. For a company, it can be hazardous for the survival of the company.
Saving money is indeed necessary. Reducing unnecessary activities or eliminating waste is mandatory, but that does not mean all costs are eliminated completely. During a crisis, some expenses classified as compulsory or investments must still be incurred.
Reducing it is allowed, but do not eliminate it completely. For example, from the company’s perspective, payroll is mandatory. Training and developing the quality of the team is also a required investment, as it maintains the company’s quality in a competitive climate. When the crisis subsides, the skills and qualifications will be the capital to soar faster than other competitors.
When I was a child, my parents reduced many things considered wasteful but never lowered mandatory costs such as tuition and adequate food for their children. Simply put, my parents chose to eat simply for themselves but would never make tuition payments late. They decided to reduce cigarettes or other non-essential needs so that their children could eat enough and be able to concentrate on school.
When doing this, my parents thought their children would have a better chance than they did. Simply put, sending children to school is not a waste because it can provide better opportunities for children in the future. The same thing applies to investment. Although the situation is not the same as the crisis experienced by companies or individuals, the principle is the same. Don’t stop investing during a crisis. Keep investing, even if it’s just a little because it can provide better opportunities in the future.