Abstract
One of the most disturbing aspects of our current economic malaise is the number of companies reacting to difficult times by ignoring the lessons learned in the 1990s concerning high performance. These companies are embracing practices more likely to prolong their problems rather than alleviate them. With their backs to the wall, troubled companies face a number of questions. There is the practical matter of people: At a time when layoffs are in the air, how does the organization keep its top talent—the people it most needs to retain if it is going to recover? A broader but equally pressing issue is strategic: How will the business get out of trouble and on the road to recovery? The corollary question is just as important: What can it do to avoid, or at least minimize, similar trouble in the future? These challenges are even more daunting during an economic downturn. This article answers key questions to help identify the path to business recovery.
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