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Be Frugal

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A business that can't make a profit won't survive. And when a business fails, it destroys the livelihoods of everyone working there. This is why businesses need to remain consistently profitable.

When times are good, it's easy to become loose about managing expenses. Feeling rich during good times leads us to spend unwisely, forgetting that the next downturn could be right around the corner, instead of preparing for it. Habits such as overspending can be hard to break when the inevitable economic downturn occurs, so building a culture of frugality is the best way to insulate your business from temporary shocks and ensure long term stability.

Learn more about Kyocera's Management Philosophy here: