Mastering management: managing in a downturn It’s just like old times. Unemployment is soaring, order books are shrinking. The phones that used to keep ringing have fallen uncharacteristically silent. And the taxi ride across town, which until recently could take anything up to an hour on a bad day, can now be knocked off in under half that time.
Welcome to the global recession 2009. For some managers, this is a new (and unpleasant) experience. They have never known markets like this before. For more than a decade, business, while not necessarily easy, seemed relatively steady and predictable. There was growth, low inflation and rising demand. The graphs kept heading the right way.
