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The Upside of the Downturn

Ten Management Strategies to Prevail in the Recession and Thrive in the Aftermath

ebook
2 of 2 copies available
2 of 2 copies available
Never waste a crisis.
Some businesses—and some people—will emerge from today’s economic tumult stronger and more dominant than when it started. Others will weaken and fade. It all depends on critical choices they make right now.

Geoff Colvin, one of America’s most respected business jour-nalists, says even the scariest turbulence has an upside. The best managers know that conventional thinking won’t help them in tough times. They’re taking smart, practical steps—frequently unconventional and even counterintuitive—that will not only keep them strong, but will also distance them from the pack for years to come.

The dozens of top-performing leaders Colvin interviewed reject the common view that slashing costs and firing employ­ees are the only effective tactics. They see volatility as a rich opportunity to reinvent their organizations and lay the ground-work for future growth.

Colvin shows us how these strategies really work, using exam-ples of major companies that have successfully applied them.

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    • Booklist

      June 1, 2009
      Colvin passionately argues for C-suite proactivity, from managing people and resetting priorities to reengaging customer relationships and innovating solutions. Sound much like principles to be used during prosperity? Perhaps. The real difference today, insists the author, is the mandate to surge ahead, not just recover. Every one of the strategies is armed with data and real-life business paradigms: Toyota, for example, is cited as the paragon of protecting people assets, training and developing its employees even during factory slowdowns. Three questionswhat is our core? How is this recession changing our customers and our behavior? and Will this recession hasten or even cause a large-scale restructuring of our industry?form the heart of business-model transformation, a radical change that might not need to happen, per the Walmart save more, live better ad philosophy. No explicit how-tos are highlighted; on the other hand, keeping company with the likes of HP, American Express, General Mills, and Amazon is a powerful proposition, and one well articulated by Colvin.(Reprinted with permission of Booklist, copyright 2009, American Library Association.)

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