“Although published in 2003, the information still shows its relevance in today’s touch economy. Invaluable lessons are featured in this book. The ‘Harvard Business Review on Leading in Turbulent Times’ is indeed a wonderful resource for those who are having the toughest times in their business but wanting to find ways to being strong for the company, being there for your employees and staying resilient during the tough times.”
(c) Images courtesy of Harvard Business School Press
TITLE: Harvard Business Review on Leading in Turbulent Times
PUBLISHER: Harvard Business School Press
PAGE COUNT: 200
The business environment has become increasingly precarious, thus raising the stakes for nearly every managerial move. This cutting edge collection includes articles on how to lead in a dowturn economy, overcome a growth crisis, stay resilient through difficult periods and more.
The series is designed to bring today’s managers and professionals the fundamental information they need to stay competitive in a fast-moving world. From the preeminent thinkers whose work has defined an entire field to the rising stars who will redefine the way we think about business, here are the leading minds and landmark ideas that have established the Harvard Business Review as required reading for ambitious businesspeople in organizations around the globe.
As the economy is affecting many major business worldwide, it’s important to show leadership during the downturn of the economy, overcoming a variety of challenges and staying resilient.
Of course, it’s easier said than done as a business owner and knowing so many business owners who were so profitable a few years ago and then all of a sudden having to file bankruptcy and close down their long-standing business.
“The Harvard Business Review on Leading in Turbulent Times” came out during a time not long after dot.com’s have busted but before the major problems that we are seeing now among business worldwide. But the book still has its relevance. It’ all comes down to the management and how they are going to lead their business into more than just survival mode but trying to become profitable and trying to keep sanity within the company.
The book is broken down into eight chapters with several contributors discussing various strategies and identifying problems but how to lead in turbulent times. The chapters are:
- Moving Upward in a Downturn by Darrel Rigby
- The Growth Crisis – And How to Escape it by Adrian J. Slywotzky and Richard Wise
- After the layoffs, what’s next? by Suzy Wetlaufer
- How Resilience Works by Diane L. Coutu
- Cutting Costs without Drawing Blood by Tom Copeland
- We Don’t Need Another Hero by Joseph L. Badaracco, Jr.
- Patching: Restitching Business Portfolios in Dynamic Markets by Kathleen M. Eisenhardt and Shona L. Brown
I found a good number of the chapters to be wonderful reading because it’s the type of advice you would like to receive from a mentor. Not just beating around the bush but getting the job done.
One of the most relevant chapters that many management will definitely find quite invaluable is Suzy Wetlaufer’s “After the Layoffs, What’s Next?”. We have seen various industries, may it be automobile to real estate, where people have been working in these companies for years, decades and for some, family members working for a company for several generations.
But what happens when the trends of other rival companies start to show problems of mass layoffs, corporate restructuring or even closures. How are people at your company going to react, when you have to make changes. Changes that are not going to be favorable but changes that must be done. What happens when workers are no longer willing to support the company they worked proudly in. Damage control is necessary and Wetlaufer is quick to show an example of a company that was damaged during its layoffs but also showing ways of damage repair.
Many of the chapters featured in this book does have its relevance today. Some may seem dated as there are some chapters that get into 9/11 but despite when these situations may have took place, it all comes down to the valuable information from one professional to another and how we incorporate that into our own businesses and from then forward, leading in troubled times and staying resilient knowing that bad times are temporary. Some of those tough and dark times may take a little longer but its important to be strong for the company and your employees.
Overall, a book with a lot of invaluable information and a book that was definitely worth reading.