Experience is the best teacher, so they say. True to those words, Stephen Bittel, the CEO TerraNovaCorp has seen that when one spends a large amount of time doing something, they get to know the subtle details of that thing whether it is business, work, or anything for that matter. The economic cycle particularly in a business setup is one of the highly-debated subject because it matters to the economy of a company, a country and also affects the owner of the business as well as the employees.
Stephen Bittel says, “Understanding the economic cycle of a business helps company CEOs and founders not to worry a lot when things are not gong as they expected. Those in positions of oversight must understand that the economic cycle is inevitable and that if perfectly understood and plans put in place beforehand, nobody will lose.” Stephen Bittel goes ahead to break down the economic cycle before admonishing his fellow entrepreneurs and investors in various industries. The four phases of the economic cycle according to Stephen Bittel are expansion, peak, contraction and finally trough. Although each of these steps are distinct, Stephen says no single business will jump any of those steps even if the founder, presidents, employees or anybody involved did exemplary work. The TerraNovaCorp founder says the only thing will differ from one company to another is the time between the various phases.
“It’s important that business owners and leaders understand these steps and what happens during each step,” Stephen Bittel advises. The TerraNovaCorp founder argues that when those in oversight roles have a fully understanding of what happens in each phase of the economic cycle, none in the company and work will feel left out. Stephen H. Bittel, has been in the helm of TerraNovaCorp since he founded the company in 1980. CB ranks Mr. Bittel number 1,604.