Published by:
Harvard Business Publishing
Length: 7 pages
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Abstract
Mikhail Gorbachev has set himself the most daunting management challenge ever. As CEO of Soviet Union, Inc., he inherited declining industries characterized by waste, poor quality, secrecy, and misallocation of resources. At the heart of Gorbachev''s turnaround effort is an ambitious market-oriented reform package. Some advice to Gorbachev: halfway measures will not do. His reform measures should rely even more on market incentives, so as to quickly bolster the consumer economy. Unless consumer goods improve in quality and become more readily available, Soviet workers will have little reason to work harder and put up with the insecurities and strictures of market competition.
About
Abstract
Mikhail Gorbachev has set himself the most daunting management challenge ever. As CEO of Soviet Union, Inc., he inherited declining industries characterized by waste, poor quality, secrecy, and misallocation of resources. At the heart of Gorbachev''s turnaround effort is an ambitious market-oriented reform package. Some advice to Gorbachev: halfway measures will not do. His reform measures should rely even more on market incentives, so as to quickly bolster the consumer economy. Unless consumer goods improve in quality and become more readily available, Soviet workers will have little reason to work harder and put up with the insecurities and strictures of market competition.