2 of 2 people found the following review helpful
A Disappointment from a Usually Great Author,
This review is from: Leadership in the Era of Economic Uncertainty: Managing in a Downturn (Hardcover)
While there is some good advice in this book, most of it is generic and applies in good times as bad. The one key new directive is to focus on cash more than anything else. This follows clearly if one understands the business fundamentals presented in the author's book What the CEO Wants You to Know : How Your Company Really Works. Since credit is tighter, and most companies' financials will look worse with declining revenues, getting cash externally will be much more difficult. The best solution is to work to avoid needing external cash.
Another new suggestion is to accept the greater uncertainty by revising budgets more frequently. By doing so, companies can react more quickly and also keep goals more realistic. With (unchanging) annual budgets in a very uncertain world, a month or two into the year, the budget may already be impossible, or met, if a turnaround happens sooner than expected. Either way, persisting with a grossly unrealistic budget for most of a year is not a good idea.
Unfortunately these two solid ideas and a little fluff (advice applicable anytime) does not make for compelling book.