Magazine article Management Today

Don't You Believe It ... Recession Can Be Managed

Magazine article Management Today

Don't You Believe It ... Recession Can Be Managed

Article excerpt

Over the past 18 months, much time, effort and money has gone into attempts by both politicians and businesses to resolve the financial crisis.

The benefits have been marginal, at best. Whether you're a world leader or the boss of a three-person firm, trying so hard to fix the economy is a bad idea. Here's why ...

Change doesn't stop in a recession. Your business has been affected over the past five years by technological change, demographic change, fashion trends, the rise of new economic powers such as China, and shifts in customer preferences. The recession may alter the direction of some trends, but it won't stop them.

You may win the battle but lose the war. There are things you could do that would benefit you in the short term but kill you in the long term Maybe it's cutting back on product innovation, or marketing, or people development. If you don't know where you want to be in, say, three years, how do you know whether this surgery will be risk-free, risky or fatal? …

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