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Tuesday, February 3, 2009

Taking Advantage of a Downturn Economy

“Seize Advantage in a Downturn” (pp.50-58) is the cover story of the January HBR issue. Written by David Rhodes and Daniel Stelter, both of Boston Consulting, this article advises leaders to protect their financial assets, their exiting lines of business, and their valuation relative to competitors—all done through tough-love leadership. This all in service of at the same time making forward thinking investments, M & A as well as redefining business models to meet the new reality. A couple of my favorite quotes:

--“Companies that injudiciously slash marketing spending often find that they later must spend far more than they saved in order to recover.”

--“You’ll have to ride out the recession carrying the baggage of any company you acquire, so due diligence takes on even more importance.”

Suggest this entire issue (January 2009) be read cover to cover…then re-read.

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