Summary of The Upside of the Downturn
Ten Management Strategies to Prevail in the Recession and Thrive in the Aftermath
Copyright © Geoff Colvin, 2009. From THE UPSIDE OF THE DOWNTURN by Geoff Colvin. Summarized by arrangement with Portfolio, a member of Penguin Group (USA) Inc.
Competition, stress and hard times can bring out the best in people and in businesses, too.
The 2008 recession and its lingering aftermath have undoubtedly transformed the global economy. All aspects of business have changed, including consumer attitudes, competition, employee relations, the role of government, and customers’ saving and spending behaviors. Yet with all these shifts, few companies have consciously adapted to new business realities. Business journalist Geoff Colvin believes that the recession presents some intrepid managers with a rare opportunity to reinvent themselves and their businesses. He proposes 10 strategies that firms of all sizes can use to compete in the post-recession world. Unfortunately, some of his role models for those strategies haven’t held up as well as he anticipated – his book appeared in mid-2009, before all the dust of the financial crisis had settled. Nonetheless, getAbstract recommends his 10 sensible prescriptions to leaders who want a makeover for themselves and their enterprises.
In this summary, you will learn
- Why recession offers new opportunities for reinvention
- How to use 10 strategies to weather hard times
- How to build long-term company value
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