The Single Greatest Challenge for CEOs/Managers in the Current Economy

Posted by Curt Finch on Monday, 12-05-2011 11:40 am

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The current state of the global economy has created new challenges for companies all over the world. This has led to executive decisions being made out of panic, such as firing quality employees and slashing important programs. Regardless of their efforts, many companies have seen plummeting revenue streams, sometimes being forced out of business altogether.It may surprise you, but I actually believe that the greatest challenge in this economy is avoiding the mistake of blaming everything on the economy. It is easy for managers and executives to wring their hands and say, “This is the worst economy we have had in 80 years, and that is why my company has all of these problems.” To a certain extent, they are right. Yet that type of thinking does not lead to solutions. What if the economy never improves very much? Take Japan for example: they have been stuck with an anemic economy for decades now. Yet within that environment, some Japanese companies have excelled w...

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