Develop a really detailed business plan
The dynamic business environment underscores the importance of a solid business plan that can act as a living, breathing model to support decision making based on today's information and not what company planners thought they knew at the beginning of the year. Start with the most detailed budgeting process possible. Adjust it to be driven by site managers with a CFO or similar individual acting more as a guide and facilitator than a director. Staffing and spending are best tied directly to the top line to ensure spending decisions are made on a situationally appropriate basis. Extending information gathering and review throughout the year with detailed quarterly reviews and updates can also be helpful.

Keep your bankers in the loop
If you think you've had a tough year, think about your banker. Banks are paying closer attention to their portfolios than ever. Try to be especially proactive in communicating. And be sure your bankers hear about it when something good happens.

Focus on continuous improvement and lean manufacturing activities
Take on projects across all functions and organizations and celebrate successes in reducing cost, eliminating waste and creating better and safer work environments. When employees are brought into the project-selection process, the impact on morale is multiplied as they see their ideas and priorities acted on.

Stay in front of your customers
Spend as much time as possible visiting with and listening to customers. In many cases, their companies are struggling with the economy too, and they may not have real clarity on their future needs. Assuring them that support will be there when they need it can greatly enhance your relationship. Becoming their partner means you'll find out what their needs are as soon as they do. This is definitely a time for extensive communication.

Improve the customers' experience
Review corporate plans to identify metrics that better characterize the customer experience. They're the ones that determine whether you're providing value. Identify places where efforts have fallen short. Adjust plans and track performance in those areas. In addition to on-time delivery and scrap, nonconformance and escapes really impact your customers and should be monitored. Publish your metrics to your team regularly, watch trends and customers will benefit.

Keep your employees well-informed
In particular, when something good happens, make sure that the entire company hears about it. Keep everyone well-informed and answer questions honestly. This keeps the rumor mill under control and promotes good morale.

Invest in the future
Although the economy is tight right now, it will be essential to be ready to run when the recovery comes. Put an increased focus on technologies and competitive position. Focus on driving R&D and productivity projects to closure. Benchmarking your capabilities against your competition and customer requirements can also be helpful.

Celebrate success
Don't forget to celebrate the wins. Good news has wings right now, and owners, customers, suppliers, bankers and employees are all eager to hear positive stories. Put extra effort into making noise when something good happens. Winning is contagious, and small wins beget big ones.

Like everyone else, our company is dealing with the most challenging economic environment in our history. We believe there are opportunities for growth in this market, and our strategy for this year has been to get back to basics. We believe we'll grow this year by paying close attention to spending and our cost structure, making our company more efficient and competitive, better meeting our customers' needs and keeping our employees well-informed and upbeat. We also hope to be well-positioned for growth as the economy recovers and things start to open up again.

Stewart Cramer is the president of LAI International, Scottsdale, Ariz., a provider of precision machined components for the aerospace, power generation, defense and medical industries. During Cramer's six years at the helm, LAI has transitioned from a group of three small regional job shops with 80 employees to an integrated contract manufacturer with five facilities, preferred-supplier status with a number of OEMS, industry-leading technologies and more than 250 employees.