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How to act in the market as a finance controller if market is going towards down trade?
First step : Scrutinized your employee list and take each person interview one by one in line and discussed personal apperance and views and discuss with them market condition as a friend to get valuable answer.
Second Step : you are a decision maker.You have to decide for finance safety for company protection under company policy and justify with your employee on humanity grounds but remember that it would not harm to company status as well as employee family support.
Third Step: Being a financial Controller, first try to reduce your accrued lliability ( local and overseas )as well as try to re-cover your funds from debtors through meeting arrangement with sales staffs and take immediate steps for reduce purchase of material through inventory control.Being a project-management, it is a cretical situation for major companies ,but need to monitor your budget- collection and payment forcasting and demand and supply as per preority is concerned.
