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Anxiety Over a Life Free of Inflation

ISO’s survey for the biggest 500 companies, shows that 80% of companies were getting their income from other resources than their activities. Although the bussiness world is giving support to the government fight with the high inflation rate, possible difficulties coming along with the low inflation program urge them to develope new strategies for their bussiness.

As the companies will be losing their main resources of income with the low level of inflation, they are also seeking support from the government and the banks in return.

INTERVIEW WITH MURAT YALNIZOĞLU

Murat Yalnızoğlu, President of Management Consultants’ Association, and one of the partners of ARGE Danışmanlık, answered our questions about the difficulties of bussiness life as the economic situation is changing and the solutions they are offering to their clients.

Who is coming for consultancy to you ?

Various people, like bankers, tobacco producers, executives from public or private institutions and from national or international companies, managers of family companies of Turkey are coming to us.

What kind of services are you offering?

It changes depending on the structure of company. Recently our favourite area of service is strategy. Strategy for building grounds to make a company distinguishable among its rivals, to make it leave its rivals behind and adapt it self to changing conditions with a master plan. The master plan includes answers to some essential questions like; “Which products will be offered to which customer?”, “What must be done or must not be done for the best presentation ?”

What are the demands of companies for consultancy recently?

There has been significant changes in Turkey for the last 2-3 years. The decrease in inflation is the most significant of all for companies and consumers. Turkey has been living with a very high level of inflation for 20-25 years. Companies have built up their structures upon an inflationist order. A sudden attempt to change this, results in an enormous imbalance for the companies. We’ve already started to move away from the inflation. When we examine ISO’s survey for the biggest 500 companies, we see that %80 of companies were getting their income from other resources than their activities. In the new economic situation, companies are losing their main resources of income. What will they do now? How are they overcome the stagnation ? Are they going to have crisis? Asking all these questions, the necessity for new visions is obvious.

Are there people coming to you in panic asking for immediate help?

Yes. Not in panic maybe, but they are coming in confusion. They feel the urgent need to change and improve things but they do not know where to begin. For instance if you say, “Lets begin with clarifying our expenses.” It won’t take less than 6 months. If you decide “to improve your production process” or “learn more about your customer”, those will take more than 6 months, too. Everybody knows that they do not have that much time. You cannot do all those things with priority at the same time. You have to seek a solution for this situation.

How will low inflation rate affect structures of companies?

In order to adapt to new economic situation companies need healthier structures. Where expenditure, profit rate, customer profile of the company are very clear and quality of products, sales activities are high. This is the rule for competition not only in Turkey but in every country of the world. Thus, sooner or later companies will be re-structuring themselves in this direction.