Companies that carefully monitor the economy can prosper in all phases of the business cycle, a relentless alternation of economic expansions and recessions. Best-selling author and scholar Peter Navarro champions a do-it-yourself approach to forecasting. He says that instead of relying on outside experts, firms should produce their own economic forecasts to ensure optimal decision making in both the upturns and downturns of the business cycle. Navarro provides multiple examples of economic indicators that require no formal education in economics to understand. His book also includes case studies of companies that embraced macroeconomic analysis and of others that ignored the potential of tracking the broad economy. getAbstract recommends this book to any manager who wants to use economic forecasts to make better business decisions.
In this summary, you will learn
- What makes economic forecasting so valuable
- How your firm can create its own economic forecasts instead of relying on outside experts
- How companies must organize themselves to profit from forecasting and prosper in any economy.
About the Author
Peter Navarro is a professor at the Merage School of Business, University of California-Irvine, and the author of several books, including The Well-Timed Strategy and two bestsellers, The Coming China Wars and If It’s Raining in Brazil, Buy Starbucks.
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7 years agoGood Read to understand how business should prepare for business cycles