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Abstract
While pundits claim the American economy is enduring the long boom of prosperity, a downturn could occur at any moment. Today''s managers, educated in a time without significant economic turmoil, may be complacent and unfamiliar with appropriate strategies for dealing with economic adversity on a macro scale. This article provides the basic tools a manager needs to prepare effectively for such a calamity before it manifests. Includes a sidebar that explores how successful companies navigate downturns.
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Abstract
While pundits claim the American economy is enduring the long boom of prosperity, a downturn could occur at any moment. Today''s managers, educated in a time without significant economic turmoil, may be complacent and unfamiliar with appropriate strategies for dealing with economic adversity on a macro scale. This article provides the basic tools a manager needs to prepare effectively for such a calamity before it manifests. Includes a sidebar that explores how successful companies navigate downturns.