Some businesses – and some people – will emerge from this downturn 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 journalists, says even the scariest recession has an upside. The best managers know conventional thinking won’t help them win in these tough times. They’re taking smart, practical steps 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 all that matter. They see the recession as a rich opportunity to reinvent their organizations and lay the groundwork for future growth. Colvin’s ten solidly grounded strategies will increase your company’s competitiveness and build its long-term value. A sample: · Reset priorities. Easy to say, harder to do. Pursuing the lofty goals set in good times can be disastrous now. · Reevaluate people and steal some good ones. Mass layoffs are a tempting way to cut costs, but great companies often find smarter alternatives. And if your competitors are dumb enough to fire their best people, grab them. · Keep investing in the core. Trim the fat from your budgets but not the muscle. The best companies actually increase some spending in a recession, funding the areas that make them unique and valuable. · Don’t rush to cut prices. Many companies assume they must – yet the long-term damage often outweighs the short-term boost. Colvin shows how these strategies really work, using examples of major companies that have applied them with inspiring results.
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"Great insights into where we are now, how we got here, and what we can do during this downturn to prepare for the upturn and eventual future downturns. " — Luanne (5 out of 5 stars)
"Great insights into where we are now, how we got here, and what we can do during this downturn to prepare for the upturn and eventual future downturns. "
" Solid book but not earth shaking. "
" Great insights into where we are now, how we got here, and what we can do during this downturn to prepare for the upturn and eventual future downturns. "
Geoff Colvin, Fortune’s senior editor at large, is one of America’s most respected journalists. He lectures widely and is the regular lead moderator for the Fortune Global Forum. A frequent television guest, Colvin appears daily on the CBS Radio Network, reaching seven million listeners each week; he also co-anchored the PBS program Wall Street Week for three years. He lives in Fairfield, Connecticut.
Lloyd James (a.k.a. Sean Pratt) has been narrating since 1996 and has recorded over six hundred audiobooks. He is a seven-time winner of the AudioFile Earphones Award and has twice been a finalist for the prestigious Audie Award. His critically acclaimed performances include Elvis in the Morning by William F. Buckley Jr. and Searching for Bobby Fischer by Fred Waitzkin, among others.
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