What Have Managers Learned from the Recession?

The ancient Chinese believed that the most severe curse was to be condemned to live in interesting times. They define such times as being fraught with rapid change and turmoil. Today's managers must feel they have been subjected to this greatest of all curses. Managers who have survived the recent recession must use their experiences to assist their organisations in adjusting to a changing environment. Although each manager and company will come away from their recent experiences having learned different lessons, several key lessons are common to all organisations. These concern the development of an environment for decision‐making and a system for managing all assets including the most dynamic, people.