An extremely interesting article at The Financial Times on managing in a downturn by Donald Sull, the professor of management practice in strategic and international management and faculty director of executive education at London Business School.
Professor Sull addresses the issue under 4 main headings, viz:-
- Instil ongoing cost discipline
- Force hard choices
- Accelerate fundamental changes
- Seize golden opportunities
When you read the article it is tempting to think all this is obvious, but is it? Perhaps, it is when you step away and think about it, but how many of us actually do that. There are some excellent thoughts in this article.
I intend to return to some of the concepts in this article in later posts with particular reference as to how I think topics discussed in this and other recent readings can be applied to professional service firms.
The article is one in a series at the FT.