CEOs in the past have made serious mistakes in coping with a slowing economy, make sure you don’t. Bruce Nassbaum explains the 10 worst mistakes CEOs can make in a recession.
Some of these mistakes include firing talent, cutting back on technology, companies retreating from globalization and changing performance metrics.
The article sites Apple as an example of a company that came out of a recession on top by working on the Ipod throughout the downturn.
The message is to keep on top and don’t be scared. Don’t turn your company upside down just to save costs, stay competitive by working on something new, keep bringing in consultants from outside and stop retreating into Walled Castles.
Read more by accessing the article here.